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Northern Trust AM wins further kiwi mandates
Northern Trust Asset Management has added to a key New Zealand institutional mandate — its relationship with the NZ$30 billion ($28.6 billion) New Zealand Superannuation Fund.
Northern Trust announced this week that the New Zealand Superannuation Fund had appointed it to manage two new factor investing mandates, extending a relationship first established in 2007.
The mandates — a NZ$300 million low volatility strategy and NZ$300 million value investing strategy will use funds Northern Trust is already investing passively in global equities on behalf of NZ Super. According to Northern Trust, the new mandates will be managed according to a factor investing approach which systematically constructs an alternative portfolio according to pre-determined factors, aiming to deliver superior risk-adjusted returns over the long-term.
Commenting on the mandate, NZ Super Fund chief investment officer, Matt Whineray said the fund had worked closely with Northern Trust Asset Management over a number of years, and was delighted to continue to deepen the partnership through the new mandates.
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