The NZ Super Fund has appointed Northern Trust’s international asset management arm, a leading provider of index, active and multi-manager solutions, to manage a Barclays Global Aggregate fixed income mandate, incorporating the Fund’s environmental, social and governance exclusions.
The new mandate adds to the four passive global equity mandates awarded by the Guardians to Northern Trust in 2013.
“We are pleased to grow our existing partnership with Northern Trust. The appointment is consistent with our desire to have fewer, deeper manager relationships, helping us manage the Fund’s portfolio as efficiently as possible,” said Matt Whineray, chief investment officer, New Zealand Superannuation Fund.
Wayne Bowers, chief investment officer for Northern Trust Asset Management for Europe, Middle East, Africa and Asia Pacific, said: “We are delighted to have the opportunity to further our relationship with New Zealand Superannuation Fund and look forward to helping them obtain efficient market exposure to their designated index, whilst supporting their goals for socially responsible investing.”
While the mandate does not have a specific size, the Guardians require that none of their external managers manage more than 25% of the Fund’s net asset value.
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