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

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news