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

 


Fund appoints Northern Trust to new passive mandates

Joint Media Statement - New Zealand Superannuation Fund and Northern Trust

15 October 2013

New Zealand Superannuation Fund appoints Northern Trust to new passive global equities mandates

The NZ$23 billion New Zealand Superannuation Fund has appointed Northern Trust’s asset management arm, a leading global provider of index, active and multi-manager solutions, to manage four new passive global equities mandates.

The mandates track global large cap, global small cap, developed emerging markets and developed REITs (real estate investment trust) market indices.

Fiona Mackenzie, Head of Investments for the New Zealand Superannuation Fund, said around two-thirds of the Fund was invested passively, providing cost-effective access to diversified global share-markets.

“Adding a third passive equity manager to our stable will give the Fund more capacity and flexibility in managing this very important part of our portfolio.”

Northern Trust has had a custodial relationship with the Fund since 2007. Ms Mackenzie said appropriate separation was in place between Northern Trust’s asset management and asset servicing businesses. Northern Trust has both asset management and custodial relationships with the majority of its global clients.

“We are delighted to be broadening our relationship with New Zealand Superannuation Fund,” said Bo Kratz, managing director for Northern Trust’s asset management arm in Asia Pacific. “Northern Trust has always placed a key emphasis on understanding our clients’ unique requirements and we are pleased to now extend our asset management capabilities to the Fund and help them achieve their investment objectives.”

“New Zealand Superannuation Fund is one of the world’s most innovative sovereign wealth funds and we look forward to working closely with them,” said Bert Rebelo, head of business and strategy for Northern Trust’s asset management arm for Australasia.

The mandates are flexible in size.

ENDS

About the New Zealand Superannuation Fund
The New Zealand Superannuation Fund is a Government savings vehicle to help pay for the rising cost of New Zealand’s universal superannuation scheme. The Fund, which started investing in September 2003, is managed by a Crown Entity, the Guardians of New Zealand Superannuation.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 17 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2013, Northern Trust had assets under custody of US$5.0 trillion, and assets under investment management of US$803.0 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news