Trustees - What do they do?

The Trustees ensure that the Fund is managed to comply with the trust deed and all relevant legislation. They are ultimately responsible for ensuring that your benefits are secure and that your rights as a member are protected at all times. The Trustees must also report to you each year about your individual benefits and the Fund’s overall financial position and performance.

The Trustees can delegate their functions, but not the responsibility for them. In practice the Trustees undertake most of their functions directly by running an independent office to administer the Fund. To help them they sometimes get advice from specialists such as actuaries and lawyers.

The main function that the Trustees delegate is investment management. However, they still:

  • set the investment policy and objectives for each investment strategy
  • select the fund managers
  • meet with the mangers regularly to discuss the investments
  • monitor the managers’ performance

Within this framework they leave the day-to-day investment decisions to the appointed fund managers.

Who are they?

The Fund is administered by a board of eight Trustees. Four are appointed by the Participating Employers and four by the Maritime Union of New Zealand (MUNZ).

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David Young - Chairman (Wellington)
David has been a trustee since 1982 and chairman since 1990. He is a consultant engineer who has been involved in a number of industries including several years as chief executive of the NZ Port Employers Association.
Joe Fleetwood - Deputy Chairman (Wellington)
Joe was appointed General Secretary - MUNZ in December 2009 and became a Trustee February 2010.
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Phil Adams - (Port Chalmers)
Phil is the current President of MUNZ and is employed by Port Otago. He has been a trustee since 1995.
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Jon Baxter - (Auckland)
Jon is Group Human Resources Manager, Ports of Auckland. He has been a trustee since 2002.
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Ray Fife - (Bluff)
Ray is Secretary of the Bluff Branch of MUNZ and is employed by Southland Stevedoring. He has been a trustee since 2003.
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Russell Mayn - (Auckland)
Russell is the Assistant General Secretary of MUNZ. He is also the Secretary of the MUNZ Auckland branch - Local 13. Russell is our newest Trustee having been appointed in November 2006.
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Kathy Meads - (Christchurch)
Kathy is Chief Financial Officer, at the Lyttelton Port Company. She was appointed as a trustee in 2005.
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Ray Welson - (Auckland)
Ray is currently a consultant to the stevedoring industry after retiring after many years with the former stevedoring firm of Leonard and Dingley. He has been a trustee since 1989.

The Trustees can be contacted care of the Fund Director at the address below.