Guardians terminate equity mandates

Guardians terminate equity mandates

Auckland (19 April 2010) - The Guardians of New Zealand Superannuation have today announced that they have terminated the global equity, non-US small-cap equity and multi-strategy equity mandates managed by GMO, LLC.

GMO Renewable Resources Ltd continues to manage the Fund's New Zealand timber assets.

GMO, LLC was appointed in June 2004 to manage a non-US small-cap mandate; in February 2005 to manage a growth-oriented global equity portfolio and in June 2006 to manage a multi-strategy equities mandate.

This decision does not affect the New Zealand Superannuation Fund's strategic asset allocation to global listed equities.

The Guardians work with investment managers around the world to execute the strategy for investing the Fund's. A list of investment managers can be found on the Fund's website www.nzsuperfund.co.nz.

ENDS

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