Fund making inroads for its members.
An ‘alternative’ asset-allocation strategy is put to good use.
When rushing along the Johannesburg-Durban motorway, pause briefly outside Harrismith to take a look at the Highway Junction Truck Stop. It’s a fine example of “responsible investment” by a retirement fund – in this case the Transport Sector Retirement Fund – directly to serve the occupational needs of its workforce members.
The project is large and impressive. It’s also unique.
“Four years ago we determined that good-quality truck stops are sorely lacking along SA’s major routes,” says TSRF principal officer Joe Letswalo. “Recognising that the vast majority of our members are truck drivers, and that a major cause of accidents is driver fatigue, we launched a strategy to ensure that our members and the broader transport community would have facilities to park and sleep safely.
“At the same time we wanted them to have access for refuelling and auxiliary services such as restaurants, primary healthcare clinics, recreational and warehouse space.”
A multi-brand facility, it is probably one of the busiest truck stops in Africa. Three different petroleum brands – Engen, BP and Total – have their own forecourts. Trucks can park overnight on a reinforced concrete surface with no chance of being stuck in mud. It’s purported to be the preferred stopover for about 70% of truck drivers passing through the N3 corridor.