The Authority
The Fund
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Updated 5 Aug 2009
Investment Managers
The Authority has appointed 20 investment managers to manage the investment assets of the Fund including 2 managers who undertake foreign exchange hedging. They are:
- AllianceBernstein New Zealand Limited (New Zealand equities)
- Altrinsic Global Advisers, LLC (international equities)
- AMP Capital Redding Investors Limited (international listed real estate)
- ANZ National Bank Limited (foreign exchange hedging (international fixed interest))
- AQR Capital Management, LLC (global tactical asset allocation)
- Arrowstreet Capital Limited Partnership (international equities)
- AXA Rosenberg Investment Management Asia Pacific Ltd (international equities - small caps)
- Genesis Emerging Markets Investment Company (international equities - emerging markets)
- Gresham Investment Management LLC (commodities)
- ING (NZ) Limited (New Zealand equities)
- LaSalle Investment Management (Securities) L.P. (international listed real estate)
- Makena Capital Management (Cayman), LLC (multi-asset class)
- Marathon Asset Management LLP (international equities)
- Pacific Investment Management Company LLC (international fixed interest)
- PanAgora Asset Management, Inc (international equities)
- Pzena Investment Management, LLC (international equities)
- RREEF America REIT II, Inc (US unlisted real estate)
- State Street Global Advisors, Australia, Limited (foreign exchange hedging [international equities and international real estate])
- T.Rowe Price Global Investment Services Limited (international equities)
- Wellington Management Company LLP (international fixed interest)
Investment Screening
Two specialist investment-screening consultants, Sustainable Investment Research Institute PTY Ltd and Innovest Strategic Value Advisors Inc, have been appointed by the Authority to assist the Board in assessing whether the Fund’s investments could prejudice New Zealand’s international reputation.
Other public sector and state superannuation schemes
The Government Superannuation Fund should not be confused with other public sector or state superannuation schemes such as:
- The ‘New Zealand Superannuation Fund’ (also known as the ‘Cullen Fund’). It started operations in September 2003, and is designed to partially provide for the future cost of New Zealand Superannuation. New Zealand Superannuation is a universal benefit paid by the Government, where eligible residents over the age of 65 years receive a pension payment irrespective of income or assets.
- The ‘State Sector Retirement Savings Scheme’, a new scheme for state sector employees, which started in July 2004.
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