Gaynor's Milford Asset Management gets some NZ Super money

Tuesday 26th January 2010 1 Comment

The Guardians of the NZ Superannuation Fund have appointed Brian Gaynor's Milford Asset Management as one of its managers.

Milford's mandate for the fund is to manage an active New Zealand equities portfolio.

In the past year the Guardians have dumped two other managers, Fisher Funds and Brook Asset Management, who each ran active NZ share portfolios.

Milford executive director Anthony Quirk says the appointment is "the culmination of a rigorous and thorough research evaluation of Milford by the Guardians over the past 18 months.

"We regard the appointment as an endorsement of the quality of Milford's team, systems, processes and investment performance."

www.goodreturns.co.nz recently reported that Milford poached Westpac's Head of Wealth Operations, Bryce Marsden, to become its chief operating officer.

Milford currently has over $400 million of funds under management, up 67% from the same time last year. Funds growth has been strong across all areas of its business including:

· The Milford Aggressive Fund, which has $70 million. The Aggressive Fund has achieved a 32.2% return to 31 December 31. This fund is managed by Brian Gaynor.

· Milford's KiwiSaver offering (the AonSaver AMT Milford KiwiSaver Aggressive Fund) has the same investment portfolio as the Aggressive fund.

· Balanced investment portfolios managed for individuals, family and charitable trusts and company superannuation schemes. Wholesale New Zealand or Australasian equity mandates. Milford's strong domestic equity team, investment process and performance have contributed to a significant lift in funds under management in this segment.

Comments from our readers

On 1 November 2011 at 6:00 pm Trevor Wyness said:

I am 70 years and still working have a reehold house live in St Heliers with $200k in the bank could you do better for me, than the interest I,m getting? Thankyou