BlackRock has won four new mandates from the New Zealand Superannuation Fund (NZ Super).
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BlackRock will manage four new passive global equities mandates: passive global large cap equity, small cap equity, emerging markets equity and REIT (Real Estate Investment Trust) mandates.
BlackRock has managed a fixed income mandate for NZ Super since 2010.
Mark Fennell, NZ Super’s general manager portfolio completion, said the four new mandates, which passively track market indices, would provide the Fund with cost-effective, diversified exposure to equity markets around the world.
"Increasing our stable of passive mandates will give us additional capacity while providing the Fund with further flexibility and diversification benefits," added Fennell.
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By GlobalDataJason Collins, managing director of institutional client business at BlackRock, said: "The New Zealand Superannuation Fund is a valued client of BlackRock’s. We are very pleased to extend our partnership via these new mandates and we commit to bringing the best of BlackRock’s global capabilities to NZ Super."
NZ Super has more than NZD23 billion in assets.
