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


Fund Appoints GMO to Second Multi-Strategy Mandate

New Zealand Superannuation Fund Appoints GMO to Second Multi-Strategy Mandate

Auckland (15 June 2006) - The New Zealand Superannuation Fund today announced that Grantham, Mayo, van Otterloo & Co (GMO) has been awarded a global multi-strategy mandate.

This is the second global multi-strategy mandate awarded by the Fund following the appointment of Goldman Sachs Asset Management (GSAM) last month.

Under the mandate GMO will employ a number of different active management strategies incorporating equities, fixed income, currency markets and relative value between those markets to generate alpha. The alpha generated by this strategy will be overlaid on a market exposure for which the benchmark is the MSCI World Equity Index.

Headquartered in Boston, GMO is a privately-held investment management firm with around US$100 billion under management. It is the fourth mandate awarded to GMO since the Fund began investing in September 2003. In June 2004 they were appointed to manage a small cap EAFE equities mandate, followed by a large cap global growth equities mandate in February 2005, and a New Zealand timber mandate in October 2005.

The appointment of GMO brings the total number of external investment mandates to 34. The value of the Fund at 30 April 2006 was $9.9 billion.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news