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New Zealand Superannuation Fund Releases Annual Report

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The NZ$ 23 billion (US$ 19.26 billion) New Zealand Superannuation Fund (Fund) released its 2012/2013 annual report today, and there are a few highlights.
For starters, the management team under CEO Adrian Orr achieved a record return for the Fund of 25.83%. Since the New Zealand Superannuation Fund began investing in September of 2003 it has returned 8.84% (after costs, before taxes), and it has surpassed its passive reference portfolio benchmark by 1.14% or NZ$ 2 billion.

As a nod to their long term mission, Chairman Gavin Walker said the Fund, “remained committed to a long-term, contrarian investment strategy that was strongly weighted to growth assets.”

The report itself has also gone through some changes as the Fund has matured. “This year, for the first time, we have also disclosed the value of each of the Fund’s investments with external asset and investment managers, and the percentage each of these investments makes up of the total Fund,” said Mr. Orr in a statement. This move for increased transparency in sovereign wealth funds is on the rise particularly among members of the International Forum of Sovereign Wealth Funds, of which Mr. Orr has recently been named deputy chair.

Reference Portfolio – New Zealand Superannuation Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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