Joint Media Statement - New Zealand Superannuation Fund and Northern Trust
15 October 2013
New Zealand Superannuation Fund appoints Northern Trust to new passive global equities mandates
The NZ$23 billion New Zealand Superannuation Fund has appointed Northern Trust’s asset management arm, a leading global
provider of index, active and multi-manager solutions, to manage four new passive global equities mandates.
The mandates track global large cap, global small cap, developed emerging markets and developed REITs (real estate
investment trust) market indices.
Fiona Mackenzie, Head of Investments for the New Zealand Superannuation Fund, said around two-thirds of the Fund was
invested passively, providing cost-effective access to diversified global share-markets.
“Adding a third passive equity manager to our stable will give the Fund more capacity and flexibility in managing this
very important part of our portfolio.”
Northern Trust has had a custodial relationship with the Fund since 2007. Ms Mackenzie said appropriate separation was
in place between Northern Trust’s asset management and asset servicing businesses. Northern Trust has both asset
management and custodial relationships with the majority of its global clients.
“We are delighted to be broadening our relationship with New Zealand Superannuation Fund,” said Bo Kratz, managing
director for Northern Trust’s asset management arm in Asia Pacific. “Northern Trust has always placed a key emphasis on
understanding our clients’ unique requirements and we are pleased to now extend our asset management capabilities to the
Fund and help them achieve their investment objectives.”
“New Zealand Superannuation Fund is one of the world’s most innovative sovereign wealth funds and we look forward to
working closely with them,” said Bert Rebelo, head of business and strategy for Northern Trust’s asset management arm
for Australasia.
The mandates are flexible in size.
ENDS
About the New Zealand Superannuation Fund
The New Zealand Superannuation Fund is a Government savings vehicle to help pay for the rising cost of New Zealand’s
universal superannuation scheme. The Fund, which started investing in September 2003, is managed by a Crown Entity, the
Guardians of New Zealand Superannuation.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration,
banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern
Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 17 international locations in
North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2013, Northern Trust had assets under
custody of US$5.0 trillion, and assets under investment management of US$803.0 billion. For more than 120 years,
Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with
innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter
@NorthernTrust.