NZSF Terminates AMP Capital NZ Equities Mandate
The New Zealand Superannuation Fund (NZSF) has terminated AMP Capital’s New Zealand active equities mandate. The termination is effective October 30, 2014. The mandate value was NZ$ 257.5 million (US$ 200.5 million.)
No official reason was given.
In the interim, the assets will be managed in-house. AMP Capital was appointed to the mandate in 2003.
AMP Capital is part of AMP Group. In 1849, AMP was formed as Australian Mutual Provident Society, a life insurance company. AMP has been operating in New Zealand since 1854.
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