The Treasury has today released the latest round of Investor Confidence Rating (ICR) results for nine public sector agencies. The release shows five of nine agencies assessed received either an ‘A’ or ‘B’ rating (on the scale of A to E).
“The ICR is helping agencies get a better understanding of how well they’re managing their investments and where they can be making improvements to their investment and asset performance” according to Secretary to the Treasury Gabriel Makhlouf.
The latest release shows ‘A’ ratings for Housing New Zealand Corporation and the Ministry of Foreign Affairs and Trade and B ratings for the Ministry of Business, Innovation and Employment, New Zealand Customs Service, and the Ministry of Justice.
“These results reflect an improved capability and performance in recent years” says Mr Makhlouf.
The Department of Conservation, Ministry of Health, the Department of Internal Affairs and the New Zealand Police received ‘C’ ratings.
“Overall these results indicate a solid foundation for improving investment performance over the next two years,” added Mr Makhlouf.
The ICR assesses how well investment-intensive government agencies are managing their investments and assets and highlights areas for performance improvement.
Twenty government agencies have now had an ICR assessment in the last 18 months.
The ICR results are available on the Treasury website: http://www.treasury.govt.nz/statesector/investmentmanagement/review/icr/results