New Zealand Universities' Superannuation Scheme hired Russell Investments as the Wellington-based, NZ$559 million (US$492 million) retirement program's investment consultant, said the fund's annual report.
Russell Investments replaces Mercer.
A spokesman for Mercer confirmed the firm remains the administrator of the scheme, but declined to comment further.
Bibi Burahee, the plan's secretary, declined to comment further on the switch.
