Morrison & Co to manage infrastructure mandate

The New Zealand Superannuation Fund has appointed Morrison & Co Funds Management Limited to manage an infrastructure mandate

Tuesday, March 21st 2006, 12:26PM

The Fund's target long term exposure to Private Markets is 25%. This includes a range of assets, including sectors such as infrastructure, private equity, absolute return, timber and commodities. The appointment of Morrison & Co complements the Fund's existing infrastructure and private equity mandates. The mandate allows the manager to invest globally on behalf of the Fund.

Commenting on the appointment, chief executive Paul Costello said "The distinction between sectors in these types of investments is often fluid. We tend to avoid both boundaries around the type of investments considered and fixed allocations to these areas. We have appointed Morrison and Co because of their proven expertise as a long term investor". As at 28 February 2006 the New Zealand Superannuation Fund had $270m invested in infrastructure.

Morrison & Co Funds Management Limited is a subsidiary of H.R.L. Morrison & Co, a leading investor within the sector. They are also the manager of Infratil Limited, a public investment company in infrastructure assets. A subscriber to the Infratil shares in its float in March 1994 has received a return of over 24% per annum return after tax for the subsequent twelve years to March 2006.

This appointment brings the total number of external investment managers to 32. The value of the New Zealand Superannuation Fund as at 28 February 2006 was $9.0 billion.

This is a media release from New Zealand Superannuation Fund

« KiwiSaver may force some managers out of business

Invitations to become default providers out »

Special Offers

Commenting is closed

Lender

Flt

1yr

2yr

3yr

AIA - Back My Build

3.34

AIA - Go Home Loans

5.89

4.65

5.25

5.49

ANZ

5.79

5.39

6.09

6.29

ANZ Blueprint to Build

7.39

ANZ Good Energy

1.00

ANZ Special

4.79

5.49

5.69

ASB Bank

5.79

4.65

5.25

5.49

ASB Better Homes Top Up

1.00

Avanti Finance - Near Prime

6.35

Avanti Finance - Specialised

7.45

Basecorp Finance

6.35

Lender

Flt

1yr

2yr

3yr

BNZ - Mortgage One

5.94

BNZ - Rapid Repay

5.94

BNZ - Std

5.84

4.65

5.19

5.39

BNZ - TotalMoney

5.94

CFML 321 Loans

3.95

CFML Home Loans

6.05

CFML Prime Loans

6.25

CFML Standard Loans

6.95

China Construction Bank

6.44

4.85

4.95

China Construction Bank Special

6.44

5.85

5.95

Co-operative Bank - First Home Special

4.55

Lender

Flt

1yr

2yr

3yr

Co-operative Bank - Owner Occ

4.99

4.65

5.29

5.49

Co-operative Bank - Standard

4.99

5.15

5.79

5.99

Credit Union Auckland

7.70

First Credit Union Special

▲5.09

5.49

First Credit Union Standard

6.49

▲5.69

▲6.09

Heartland Bank - Online

▲5.80

5.89

Heartland Bank - Reverse Mortgage

7.99

Heretaunga Building Society

6.50

5.50

5.65

ICBC

5.39

4.49

▲4.99

▲5.25

Kainga Ora

5.79

4.59

4.95

5.19

Kainga Ora - First Home Buyer Special

Lender

Flt

1yr

2yr

3yr

5.75

5.65

6.19

6.35

Kiwibank - Offset

5.75

Kiwibank Special

5.75

4.75

5.29

5.55

Liberty

6.65

6.55

6.22

6.20

Nelson Building Society

6.49

4.69

5.09

Pepper Money Near Prime

6.55

Pepper Money Prime

5.99

Pepper Money Specialist

8.00

SBS Bank

5.84

5.29

5.79

5.99

SBS Bank Special

4.69

5.19

5.39

SBS Construction lending for FHB

3.74

Lender

Flt

1yr

2yr

3yr

SBS FirstHome Combo

3.29

4.19

SBS FirstHome Combo

SBS Unwind reverse equity

7.99

TSB Bank

6.59

5.49

6.05

6.29

TSB Special

5.79

4.69

5.25

5.49

Unity First Home Buyer special

4.09

Unity Special

5.79

4.80

5.29

Unity Standard

5.79

5.60

6.09

Wairarapa Building Society

6.15

4.95

5.45

Westpac

5.89

5.39

5.79

6.09

Westpac Choices Everyday

5.99

Lender

Flt

1yr

2yr

3yr

Westpac Offset

5.89

Westpac Special

4.79

5.19

5.49

Median

5.94

4.80

5.45

5.49

NZ's Financial Adviser News Centre

NZ's Financial Adviser News Centre

Investments

Morrison & Co to manage infrastructure mandate

The New Zealand Superannuation Fund has appointed Morrison & Co Funds Management Limited to manage an infrastructure mandate

Tuesday, March 21st 2006, 12:26PM

Commenting is closed