The New Zealand Superannuation Fund has appointed Northern Trust’s asset management arm to manage four new passive global equities mandates.
According to NZ Superannuation Fund, the mandates will track global large cap, global small cap, developed emerging markets and developed REITs (real estate investment trust) market indices.
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Fiona Mackenzie, head of investments for the NZ Superannuation Fund, said that 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," Mackenzie added.
Bo Kratz, managing director for Northern Trust’s asset management arm in Asia Pacific, said: "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."
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