Board Communique October 2021
Dear Members
The Principals Australia Research Foundation Ltd (PARF) Board met via Zoom on 12 October 2021, following the PARF AGM. The agenda included 4 key matters:
1. Director administration
2. Reviewing the investment policy and performance
3. Progressing the revised Strategic Plan
4. Confirming the Research and Development Funding Panel.
Director administration
The AGM on Tuesday 12 October re-elected, two directors; Michael Hall, nominated by ASPA, and Dennis Yarrington, nominated by APPA.
As required by rule 19.4 of the constitution, the Board elected office bearers. Dennis Yarrington was appointed Chair and Michael Hall Deputy Chair.
Investment policy and performance.
The Board reviewed investment returns against publicly available benchmarks and the investment mix and was briefed by the Investment Portfolio Manager from the investment advisers JB Were.
The Board adjusted the investment share between cash assets and real property assets based on advice from the Investment Portfolio Manager.
The Board tasked the Finance and Investment Committee with seeking further advice on an appropriate mix of investments to increase income in line with PARF’s costs and research funding needs.
Strategic Plan
The Directors, having provided further feedback, asked the Chair and Deputy Chair to produce a final plan for the next meeting. (That plan will be posted on the website.)
Research Funding Panel for 2022 academic year funding round
The Board confirmed Andrew Pierpoint, Garry Brown OAM and Ian Anderson as the Research and Development Funding Panel members, and appointed Andrew Pierpoint as Chair.
The Panel will meet in November to assess applications and recommend proposals for funding to the Board. The plan is to notify successful applicants by 26 November 2021.