Investing for the public good
Owning the right assets, managing them well, funding them sustainably, and managing risks to the Crown balance sheet, are all critical ingredients to the ongoing provision of high-quality and cost-effective public services that New Zealanders value. That means that the quality of investment management is vital to maintaining New Zealanders' living standards now and in the future. It explains why the Government is committed to ensuring investment management and asset performance practices remain fit-for-purpose.
In 2014, the Treasury established the Investment Management and Asset Performance (IMAP) team to oversee the Crown's investment in the Crown estate. IMAP has a specific focus on improving the effectiveness of investment management and asset performance in the State sector.
IMAP aims to ensure the Crown owns the right assets, manages them well, funds them sustainably, that risks are managed and that the benefits promised are realised. The team's interest extends beyond assets and capital investments, but the focus for 2015 and 2016 is to get capital and on-demand investments performing well.
The IMAP team assists ministers and agency chief executives to have confidence that:
- investment decisions are informed and prioritised well and align with government's long-term goals
- the investment portfolio is delivering high public value
- investment decision making and asset management across the State sector is robust, transparent, effective and efficient.
We are doing this because we want to optimise the benefits and public value that are created as a result of our investment interventions. Making the investment system more efficient and effective means that resources are freed up to be reallocated due to avoided costs, the intended outcomes are more likely to be achieved, and that government will have the confidence in tackling more challenging and complex issues.