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


Reserve Bank: Ongoing Monetary Tightening
The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 3 percent from 2.5 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions... More>>

Statistics: Weekly Earnings Rise As More In Full-time Employment

Median weekly earnings from wages and salaries rose by 8.8 percent to $1,189 in the year to the June 2022 quarter, Stats NZ said today... More>>

Bell Gully: Uncertainty Ahead With New Unconscionable Conduct Legislation

new prohibition against ‘unconscionable conduct’ in trade is one of a number of changes to the Fair Trading Act 1986 that come into force from 16 August 2022. The new prohibition may have wide-ranging implications for many businesses... More>>

Electricity Authority: Imposes Interim Restrictions On Very Large Electricity Contracts

Consumers of electricity will be protected from potentially paying more than they should due to the impact of very large electricity contracts on wholesale prices, under urgent changes announced today by the Electricity Authority... More>>

Westpac: Economic Overview, August 2022 – Pushing Through

The New Zealand economy faces some lean growth in the year ahead as households’ budgets are squeezed, according to Westpac’s latest Economic Overview... More>>

Kiwi Group Holdings: Fisher Funds Acquires Kiwi Wealth Business

Kiwi Group Holdings Limited (KGHL) today announced the sale of Kiwi Wealth to Fisher Funds for NZ$310 million... More>>