This part of the guidelines considers the principles underlying the structure, mechanism and processes put in place in the investment of reserve funds. These principles should form the initial building blocks of an investment governance process. They set down the investment beliefs and the missions and goals which underlie any investment process. These principles should be regularly reviewed to ensure that the ensuing investment process correctly reflects them and takes them into account, as they underpin the structure and mechanism put in place.

The overall goal of governance is “doing the right things and doing things right”.