TCorp is the financial services partner to the NSW public sector, providing best-in-class investment management, financial management solutions and advice. With $107bn of assets under management, TCorp is a top 10 Australian institutional investor and is the central borrowing authority of the state of NSW, with a balance sheet of $158bn.
Created by the Treasury Corporation Act 1983, TCorp is a wholly owned entity of the state of NSW and is part of the NSW Treasury cluster. We have the same legal capacity, powers and authorities as a company under the Corporations Act 2001 (Cth), which allows us to raise and manage money to help the NSW Government and ultimately, the people of NSW.
TCorp is a public financial corporation (PFC) and not a budget dependent agency. PFCs provide financial services including insurance, lending and investment management, trade in financial assets and liabilities of the state and operate commercially in the financial markets. Furthermore, TCorp is a net contributor to the state through the payment of tax equivalents and dividends and in FY22, we generated a dividend of $95.0mn. Our borrowing, investment and financial management activities are regulated by the Government Sector Finance Act 2018.
TCorp has a unique remit, being the only public sector organisation that acts as both a fund manager and a government central borrowing authority. We combine both functions to our clients’ advantage and provide long-term benefits to the people and communities of NSW. Our scale, market presence and strong credit rating provide access to a broader range of opportunities at lower costs, compared with the private sector. TCorp provides 2 main service lines to clients:
TCorp pays respect to the Traditional Custodians and First Peoples of NSW and acknowledges their continued connection to country and culture.