Document ID: chunk:federal_register_of_legislation:F2019L01510:reg:5
Version: federal_register_of_legislation:F2019L01510
Segment Type: reg
Provision Reference: reg 5
Character Range: 1751–2461

5  Object
       (1)    The object of this Direction is to give guidance to the Board in relation to its investment strategy for the Fund.
       (2)    The Board must seek to maximise the return earned on the Fund over the long term, consistent with international best practice for institutional investment, pursuant to section 42 of the Act, and subject to its obligations under the Act and any directions given by the Responsible Ministers under subsection 41(1) of the Act.
       (3)    This Direction is given under subsection 41(1) of the Act to articulate the Government's expectations for how the Fund will be invested and managed by the Board. This sets out matters of risk and return for the Fund.