Sharechat Logo

Guardians appoint intl manager

Monday 22nd September 2003

Text too small?
The Board of the Guardians of New Zealand Superannuation today announced that it has selected Barclays Global Investors to manage an enhanced passive international equities mandate for the New Zealand Superannuation Fund.

This mandate will be funded gradually over the period to June 2004 when it is expected to reach approximately $600 million (approximately 15% of the fund's assets).

Under an enhanced passive mandate, the investment manager creates a portfolio of shares selected from international equity markets with the specific aim of exceeding the return of the MSCI World Index.

Barclays will be permitted to take many small underweight or overweight positions relative to the index, with the aim of producing modest but consistent outperformance.

Barclays Global Investors manages in excess of $1,500 billion in assets around the world and more than $200 billion in the International Alpha Tilts Strategies which will include the NZ Superannuation Fund mandate.

The establishment of an enhanced passive mandate is the first step in building a diversified international share portfolio for the fund. Appointments of more active international equity managers, who will build portfolios with significantly less similarity to the MSCI World Index but who will be expected to provide greater outperformance over time, will be made later in the year.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares edge lower; power companies under pressure
NZ dollar rises as bets on another OCR cut fade
Broad-based manufacturing pick-up offers silver lining
Global economic outlook not as dark as in August: RBNZ
NZ dollar slips on slew of weak global data, lack of US-China progress
MARKET CLOSE: NZ shares recover as investors re-think RBNZ review
NZ dollar falls on weak Aussie jobs numbers, poor China data
Govt media plan won't weaken commercial players - TVNZ
Goodman trust's 1H net profit quadruples on unrealised property gains
Regional house price inflation accelerates in October

IRG See IRG research reports