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Whineray Appointed Chief Investment Officer of New Zealand Superannuation Fund

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Photo Credit: New Zealand Superannuation Fund

Photo Credit: New Zealand Superannuation Fund

The New Zealand Superannuation Fund (NZSF) has selected a chief investment officer. Matt Whineray has been appointed to the role by the Guardians of New Zealand Superannuation. Reporting under CEO Adrian Orr, Whineray will manage a team of 35 and will oversee the hiring of external investment managers.

See New Zealand Superannuation Fund Key People

Before joining the superannuation fund in 2008 as a general manager in private markets, Whineray was head of financial sponsor coverage for non-Japan Asia at Credit Suisse in Hong Kong. Before that role, he was a managing director at First NZ Capital and a vice president at Credit Suisse First Boston.

Whineray has been behind several high-profile deals while at the New Zealand Superannuation Fund. In March, Whineray supported the superannuation fund’s US$ 250 million commitment with KKR to get exposure to North American energy markets. By promoting Whineray, the NZSF may take a greater appetite toward large, illiquid investments. In May, Neil Williams, previously general manager of public markets at the NZSF, left for a role as managing director of multi-asset and investment solutions at the Queensland Investment Corporation (QIC). Williams was integral in helping develop the reference portfolio at the NZSF.

HKMA Intervenes to Support Currency Peg for First Time Since May 2018

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The Hong Kong Monetary Authority (HKMA) intervened to defend its peg to the U.S. dollar. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Genoa Motorway Bridge Collapses

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The 51-year-old Genoa bridge death total has risen to 35 people. On August 14, 2018, a highway bridge, known as the Morandi Bridge, in the center of Genoa had collapsed in torrential rains. The roadway, which was built of reinforced concrete, fell as much as 45 meters. The cause of the collapse was under investigation, according to Angelo Borrelli, chief of the Civil Protection Department. A good number of Italy’s viaducts, galleries and bridges were built during the 1950s and 1960s. Italy-based Autostrade is a motorway operator controlled by Atlantia S.p.A. Autostrade was conducting maintenance work on the bridge. Autostrade said it had been strengthening the road foundations of the bridge.

The Italian Benetton family founded the Benetton Group S.p.A. fashion company in 1965. Sintonia SA is the Luxembourg financial holding company controlled by the Benetton family, which has about a 30.25% stake in Atlantia. Singapore’s GIC Private Limited owns 8.14% of Atlantia as of March 31, 2018. BlackRock holds a 5.12% ownership stake in Atlantia during the same time period.

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Bill Gross Can’t Save Janus Henderson

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Speculation is swirling that legendary bond king Bill Gross could be ousted from the fund he oversees at Janus Henderson (JHG). However, Janus Henderson CEO Dick Weil is firm in his belief that Gross is fit for the position, though he also stated that Gross has been performing in a way that was “challenging and disappointing.” Bloomberg’s Francine Lacqua suggested that Gross could “taint” the overall picture at JHG.

After acknowledging that Gross was struggling, Weil was quick to defend him, pointing to his successful 40 year career in the industry. Weil expects Gross to recover from his current investment woes “in time.” He went on to underscore his unshakable confidence in Gross, “Bill’s a terrific investor, and a terrific, strong player.” Gross, for his part, is said to have admitted to making “bad bets,” according to Weil. Weil was only recently chosen over contender Andrew Formica, his Co-CEO, to serve as sole CEO of the company. Australian-born Formica was dismissed by JHG’s board of directors. JHG’s single largest shareholder is Japanese life company Dai-Ichi Life.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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