11 December 2019
Anthony Jordan
[FYI request #11643 email]
Tēnā koe Anthony
Your Official Information Act request, reference: GOV-002610
Thank you for your email of 13 November 2019, asking for the following information under the Official
Information Act 1982 (the Act):
“1/ Please supply the evidential references that MS Rebstock reffered to, for the Benchmarks for
each Respective year, MS Rebstock Proclaims in the article published 12 November 2019
Insurance Buisseness
“The work Nicholas has done for ACC and New Zealand has been outstanding. This is
demonstrated by the ACC investment fund’s performance exceeding benchmarks for 25 of the
last 27 years,” said Paula Rebstock, chairperson at ACC, as reported by NZ Herald.
“When Nicholas joined ACC in 1993, funds under management were less than $1 bil ion and the
investment team was only five people. Now the investment team has 60 people across a range of
portfolios and $45 bil ion in funds under management.
Every $100 that ACC invested 27 years ago has effectively grown to be worth more than $1,350
today.”
2/ Please supply Evidence that would separate the out going CIO's achievements from the
targets the ACC have made, over the same period MS Rebstock Proclaims, to meet any
ACC claimant 'termination/case closure' objectives
3/ Any other additional information that would assist with statement below in the context of 'a
duty to assist' (as set out in the Official Information act)
The aim being, to identify the out going CIO's financial achievement income to the Corporation
vs the ACC's financial objectives to 'protect and manage' funds”
Benchmarks and achievements
Appendix one provides the investment benchmarks for the past 27 years.
Information not provided
For question two, we have interpreted your question to be:
What has Nicholas Bagnall’s contribution
been to ACC’s key performance indicator (KPI
) of returning people to independence for your phrase
‘termination/case closure’ objectives.
ACC does not hold the requested information for question two as individual performance is not
measured against the return to independence KPIs. We believe this information would not be held by
any other agency or be more closely be connected to the functions or activities of another agency. For
this reason, this part of your request is refused under section 18(g) of the Act.
