RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

CONTENTS PART1:GeneralInformation............................................. 3 • AboutRandWaterProvidentFund.............................................. 3 • OurStakeholders........................................................... 4 • Ourvalues,cultureðics................................................... 5 PART2:ExecutiveReports.............................................. 6 • ReportbytheChairperson.................................................... 6 • PrincipalOfficer’sReview..................................................... 7 • ForewordbyFundingManager............................................... 12 PART 3: Rand Water Provident Fund Strategy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 • MandateoftheFund....................................................... 15 • FundRiskManagement..................................................... 15 • TopResidualRisks. ....................................................... 16 PART4:GroupGovernance............................................. 19 • GovernanceStructure...................................................... 19 • CompositionandTermoftheBoard............................................ 20 • AuditandRiskCommittee................................................... 20 • InvestmentCommittee...................................................... 21 • StatementofCompliance. .................................................. 23 • TreatingCustomersFairly. .................................................. 24 • MemberCommunication.................................................... 25 PART5:AnnualFinancialStatement...................................... 27 • Regulatoryinformation*..................................................... 28 • Statement of responsibility by the Board of Fund*.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 • Statement of responsibility by the Principal Officer*.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 • ReportoftheIndependentAuditor............................................. 34 • ReportoftheBoardofFund*................................................. 37 • Statementofnetassetsandfunds............................................. 41 • Statementofchangesinnetassetsandfunds.................................... 42 • Notestothefinancialstatements.............................................. 43 • Reportofthevaluator...................................................... 54 • Report of the independent auditor to the Registrar of Pension Funds.. . . . . . . . . . . . . . . . . . 55 • Investment schedule pertaining to annual financial statements. . . . . . . . . . . . . . . . . . . . . . . 94 • AssetsheldincompliancewithRegulation28.................................... 98 • Report of the independent auditor on compliance with Regulation 28 totheRegistrarofPensionFunds............................................ 100

2 Rand Water Provident Fund Annual Report | 2022-2023