Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZSF Appoints Two Further Investment Managers

For Immediate Release

28 January 2004

NZSF APPOINTS TWO FURTHER INVESTMENT MANAGERS

The Board of the Guardians of New Zealand Superannuation today announced the appointments of Fisher Funds Management and Allianz Dresdner Asset Management.

Fisher Funds Management has been appointed to manage a portfolio of New Zealand equities with a focus on smaller companies. The mandate requires all holdings to be outside of the Top 10 companies listed on the New Zealand Exchange.

The allocation to Fisher Funds Management will be approximately 1.25% of the total assets of the Fund, and the mandate is expected to grow to approximately $120 million by the end of 2006.

"The appointment of Fisher Funds Management reflects our view that there are some excellent investment opportunities in smaller New Zealand companies," said NZSF Chief Executive Paul Costello. "The allocation complements the holdings of AMP Capital and Brook Asset Management, whose portfolios tend towards larger companies, and ensures the Fund has a diversified portfolio of New Zealand equities," he added.

The allocation was welcomed by New Zealand Exchange Chief Executive Mark Weldon: "Many of NZX's smaller companies have performed exceptionally well in the last few years and the additional attention and capital flows directed to these companies is very positive."

Allianz Dresdner Asset Management will manage a portfolio of international equities, with an initial allocation of NZ$250 million. Allianz Dresdner is an active manager and will complement Barclays Global Investors who manage a portfolio more tightly structured around a global sharemarket index. Several more active international managers are expected to be appointed by the Fund during 2004.

-ends-

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>