iQ Portfolios
Governance.
A robust investment governance framework designed to ensure disciplined decision-making, independent oversight and ongoing accountability across every iQ Portfolio.
Multiple layers of oversight, by design.
iQ Portfolios are supported by a robust investment governance framework designed to ensure disciplined decision-making, independent oversight and ongoing accountability. Governance responsibility is shared across the Ventura Board, the Ventura Investment Committee, the IQ Portfolio Managed Account Investment Committee, and Morningstar, who acts as an independent asset advisor. Together, these bodies provide multiple layers of oversight across portfolio design, implementation and ongoing monitoring.
Ventura Board Ultimate responsibility
Approves the overarching governance framework, key policies, delegated authorities and risk controls.
Ventura Investment Committee Day-to-day governance
Approves portfolio design, asset allocation and changes such as rebalancing or manager adjustments.
IQ Portfolio MA Investment Committee Investment decision approval
Sub-committee that approves all investment decisions taken within the iQ Portfolios; feeds up to the Ventura Board.
Morningstar Independent challenge
Independent asset advisor providing research, analytics, stress-testing and constructive challenge.
Each body, defined.
Ventura Board
Ultimate responsibility for investment governance.
The Board of Ventura Investment Management Limited has ultimate responsibility for investment governance across iQ Portfolios. The Board approves the overarching investment governance framework, including key policies, delegated authorities and risk controls, and provides oversight of the Investment Committee’s activities.
Through regular reporting and escalation mechanisms, the Board ensures that portfolio construction, manager selection and changes remain aligned with stated investment objectives, regulatory obligations and the best interests of investors. Summaries of Investment Committee deliberations and key decisions are provided to the Board to support effective oversight and accountability.
Ventura Investment Committee
Day-to-day governance under a Board-approved charter.
Day-to-day investment governance for iQ Portfolios is delegated by the Board to the Ventura Investment Committee, operating under a formal, Board-approved charter. The Committee is responsible for approving initial portfolio designs, overseeing asset allocation, and approving changes such as rebalancing or manager adjustments over time.
The Committee reviews portfolio performance, risk characteristics and implementation outcomes on an ongoing basis, informed by research, manager reporting and independent insights. Where iQ Portfolios are offered through platforms without a third-party responsible entity, the Ventura Investment Committee acts as the primary investment decision-making body. Where a third-party responsible entity is involved, governance is coordinated through joint or parallel committee arrangements to ensure appropriate oversight is maintained.
IQ Portfolio Managed Account Investment Committee
Approves all investment decisions taken within the iQ Portfolios.
The IQ Portfolio Managed Account Investment Committee is the governing body responsible for approving all investment decisions taken within the iQ Portfolios. It reviews and challenges the methodology proposed by the Ventura Investment Team, finalises and approves portfolio changes, and oversees the governance, compliance and documentation of every decision made.
The committee is deliberately structured to bring independent challenge to the investment process. Its members include the Ventura Investment Team, the responsible entity (Ironbark and Ventura, depending on the structure of the underlying scheme), and Morningstar as an independent voting member. Morningstar acts in the charter as an independent asset advisor — effectively an outsourced CIO function — enhancing the depth of Ventura’s own investment resources rather than replacing them.
Independent Asset Advisor — Morningstar
Independent insight, challenge and analytical support.
Morningstar is engaged as the independent asset advisor supporting the design, oversight and ongoing evolution of iQ Portfolios. In this role, Morningstar provides independent insight, challenge and analytical support to strengthen portfolio construction and risk management.
Morningstar works closely with the Ventura investment team and participates in the investment governance process, including attending relevant investment committee meetings to provide research-based perspective and constructive challenge to proposed decisions. Their role includes stress-testing portfolios, supporting tactical asset allocation decisions and assisting with additional fund and manager reviews where required.
Through the use of best-of-breed technology and analytical tools, Morningstar provides dynamic portfolio analytics, risk diagnostics and forward-looking insights. These capabilities support ongoing monitoring, portfolio resilience and business continuity across market cycles.
Morningstar’s advice informs—but does not replace—Ventura’s formal investment decision-making. All material investment decisions remain subject to approval through Ventura’s Board-delegated Investment Committee framework, ensuring appropriate independence, accountability and governance oversight.