Defining Success

In order to hold ourselves accountable for our returns, we have clearly defined our objectives and as a result, we measure success three ways:

Absolute return objective

  • Annual return of CPI + 7%, over three year rolling periods.


Relative to benchmark objective

  • Outperform stated benchmark over three year rolling periods.


Relative to peers objective

  • Performance in the top quartile of broad, and selected, group of peers.


Achieving the relative measures is largely a consequence of achieving our absolute return objective.