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Super Fund kicks manager off the team; Russell research helps investors answer: passive or active?; GMK changes trustee

Monday, February 15th 2010, 5:26AM

Super Fund kicks manager off the team
One of the investment managers for a couple of the New Zealand Superannuation Fund's equity funds has been shown the door.

AXA Rosenberg's (AXAR) mandate to manage a small-cap equity and long-short equity portion of the fund has been terminated, the Guardians of the Fund announced today.

AXAR, an AXA investment manager company with a global management team, was appointed in May 2004 to manage a small cap mandate, while the equity long-short mandate was made in October 2006.

At the end of 2009, the Superannuation Fund's value was $16 billion.

Russell research helps investors answer: passive or active?
Russell Investments has produced a framework for helping investors decide when it's appropriate to choose an active or passive investment approach.

Russell also says it wants to broaden the "active versus passive debate", because the company considers the debate has been too narrowly focused on comparing passive investment with the average returns achieved by active equity managers.

The framework has five points for an investor to consider.

Russell co-chairman Don Ezra partnered with Australian National University senior lecturer Geoff Warren to develop the framework.

GMK changes trustee
Gareth Morgan Investments has decided to change its KiwiSaver Scheme’s trustee from Perpetual Trust to Public Trust.

Public Trust is the trustee for the GMI Superannuation Scheme, is New Zealand's largest trustee organisation, and is the trustee for a number of other large KiwiSaver and Superannuation schemes.

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