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Funding The Future
One RSL, Working Together.

Our 2026 vision is for every veteran in NSW to know what the RSL stands for and what it does, and want to be involved as a member. To achieve this, the RSL in NSW needs to work together. That’s why we have launched the RSL NSW funding model. It has two parts: the Aggregated Investment Management Service and the Veteran Support Fund.

The Strategic Plan 2021-26 will deliver this vision for the RSL in NSW, with 56 initiatives that will achieve six clear goals. The Strategic Plan recognises that the strength and backbone of the League is the local sub-Branch – the members in the sub-Branches are the centre of what the League stands for and what the League does.  

Mobilising the combined resources of sub-Branches is critical if the League is to act as one RSL and deliver consistent and relevant localised services and support to members and the wider veteran community, as well as their families. 

Being a membership-based organisation, RSL NSW values the autonomy of sub-Branches in asset management and decision-making. Accordingly, State Branch (ANZAC House) ensured this principle underpins the funding approach proposed to achieve the League’s vision. 

In the Strategic Plan 2021-26, this funding approach is called the ‘Financial Resource Management Concept’ and is colloquially referred to as the ‘pooled funding model’. The funding model is made up of two parts. The first part is Investment Management, and the second part is the Veteran Support Fund. 

ANZAC House respects that while we aim to work together as One RSL, each sub-Branch will have its own local activities to deliver, a financial and investment strategy to set, and decisions to make.

We encourage all members to speak with their treasurers, presidents and the trustees of their sub-Branches about the current status of their sub-Branch investments, and how their current services and performance would compare to what Morgan Stanley can offer.

Below, answers to frequently asked questions will help sub-Branches make informed decisions about participating in the two separate parts of the Funding Model.

Frequently asked questions
What is this change and why is it happening?

The funding model is made up of two parts. 

The first part is investment management, and the second part is the Veteran Support Fund. They are separate, and participation in either or both is entirely voluntary.

Under the first part, sub-Branches can establish an investment portfolio with Morgan Stanley. 

The second part, the Veteran Support Fund, will fund the RSL NSW Strategic Plan 2021-26 and other strategic initiatives where it makes sense to combine our resources to achieve greater impact, such as our donation to our partner charity, veteran services provider RSL LifeCare, which delivers RSL DefenceCare and other programs, amongst other initiatives. 

This will help us achieve our vision: for every veteran in NSW to know what the RSL stands for and what it does, and want to be involved as a member.

The future for RSL NSW is in re-establishing what it stands for. We have a serious and urgent purpose, but that purpose is underfunded. Every part of this organisation needs to prioritise support for members and the wider veteran community, as well as their families – that’s what RSL NSW stands for.

Participation in either or both parts of the funding model is entirely voluntary, but its success relies on sub-Branch participation.  

Is ANZAC House taking control of our money through the investment management model?

No.

ANZAC House’s role is limited to maintaining the RSL’s strategic contractual relationship with Morgan Stanley and ensuring delivery of investment management services meet the agreed commercial arrangements.

None of the invested funds come to ANZAC House, and participating sub-Branches work directly with a Morgan Stanley adviser. 

Each sub-Branch retains full control of its investments and receives the full return on the amount it invests. 

All sub-Branches, irrespective of whether they already have investment managers, are invited to arrange a meeting with Morgan Stanley to discuss their specific investment circumstances (see the Contact Morgan Stanley information further down the page).

 

Is ANZAC House taking control of our money through the Veteran Support Fund?

No. 

We’re asking sub-Branches to make voluntary contributions to the Veteran Support Fund (VSF), which will help to deliver the initiatives of the Strategic Plan and agreed, state-wide programs and initiatives, such as our recent $2.1 million donation to RSL LifeCare

The RSL NSW CEO will present a proposed target budget for the VSF each year, with a four-year forecast. The budget reflects the priority initiatives to deliver our core purpose of supporting members and the wider veteran community, as well as their families, complementing what is delivered locally by sub-Branches.  

As the need for new state-wide initiatives arises, these will be proposed to the District President’s Council by members through their sub-Branches to be funded by the VSF.

All expenditure will be aligned to RSL NSW’s core purpose: supporting members, the veteran community and their families throughout the state. The executive and Board’s role is accountability and transparency.

The VSF will promote the RSL’s mission and strategic intent to grow membership, and strengthen the RSL’s ability to support members, the wider veteran community and their families across the state.   

   

Can we stay with our existing investment manager?

Yes.

We understand there are long-term relationships between executives, trustees and their investment managers.

Individual sub-Branches can continue to make their own investment decisions, and participation in the investment management scheme is entirely voluntary.

Following a very competitive procurement process, sub-Branches can now choose to invest their assets with an investment management service provided by Morgan Stanley, a global firm with proven results in managing not-for-profit portfolios and aligning returns to investment strategies.

This offer is available to sub-Branches with an opening account size of $100,000.

We’ve created this opportunity for sub-Branches to participate in a fair, equitable  investment scheme taking advantage of the benefits of scale, the breadth and expertise of investment knowledge, and management fees which will reduce further for all sub-Branches as the collective amount managed increases. 

Regardless of where a sub-Branches funds are managed, each sub-Branch can still contribute to the VSF and oversee the delivery of the agreed services.

 

We manage our investment decisions – why change?
  1. Take advantage of the benefits of scale: reduced fees, global reach and risk diversification.
  2. Reduce investment decisions required by executives and their trustees
  3. Free up RSL NSW members to concentrate on what they volunteered for – helping veterans and their families.

Participation is voluntary. This is an opportunity – we respectfully encourage trustees and senior executive members to compare current investment strategies and performance with what Morgan Stanley can offer. If nothing else, this may encourage your current investment manager to do better – a positive result for the sub-Branch.

The opportunity is to invest individually, with each sub-Branch choosing its portfolio, while collectively taking advantage of the benefits of scale, such as reduced fees, global reach and risk diversification.

We know many sub-Branches’ volunteer executives have long made day-to-day decisions about large cash investments and strategic asset allocations, with approval of trustees. This exposes both the executives and their trustees – no matter how competent or experienced – to greater risks.

These volunteers spend significant time on this important function. Participation in the investment services provided by Morgan Stanley is designed to streamline investment management decisions. Volunteers can instead set the investment policy statement and monitor performance via regular reporting.

As well as mitigating risk, this also allows RSL NSW members to concentrate on what they volunteered for – helping other members and the wider veteran community, as well as their families – secure in the knowledge their investments are professionally and effectively managed, and regularly reported on.

 

How do I find out more information?

Use the form below to request a download of the Morgan Stanley Fact Sheet, or see the Contact Morgan Stanley information below for a confidential and obligation-free discussion of your sub-Branch’s investment needs.

Download the Fact Sheet

Use the form below to request a download of the Morgan Stanley Fact Sheet to find out more about the offer and how your sub-Branch can take up the opportunity.

Contact Morgan Stanley

Use the form below for a confidential and obligation-free discussion of your sub-Branch’s investment needs. 

Alternatively, contact Patrick Regan at Morgan Stanley via email or phone:

Phone: 02 9775 2902

Email: patrick.regan@morganstanley.com