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NZS: AMP may not be replaced

NZ Super Fund says it is making good progress in appointing an external manager to replace AMP as its manager of NZ equities. But it says it may end up managing the investments in-house.

Tuesday, March 31st 2015, 12:27PM

It was announced this morning that it had made new appointments to its NZ Equities team.

Brian Bourdôt has been appointed to the position of manager, NZ Equities and will oversee the New Zealand Superannuation Fund's active NZ equities team.

Bourdôt, who joined the Fund as a Portfolio Manager in 2013, has previously held roles with UBS, Deutsche Bank and Barclays.

Tim Mitchell, who held the role previously, remains in the strategic development team.

Daria Murray has been appointed Portfolio Manager, NZ Equities.

Murray, originally from London, comes to the NZ Super Fund from Alliance Bernstein.

Fiona Mackenzie, head of investments, said: "We have made progress in appointing an external manager to replace AMP, with shortlisting complete. While the RFI process is a genuine one, it's worth noting that we do not have to make an appointment. We have the in-house capacity to manage the funds on an ongoing basis.”

She said she could not disclose the specifics of how the funds formerly managed by AMP are being managed, such as whether a passive or active strategy is being used.

“Because we are a large holder, this is potentially market-sensitive information.”

Tags: AMP NZ Super Fund

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