The NZ$30 billion ($20.46 billion) New Zealand Superannuation Fund hired Auckland-based Mint Asset Management to actively manage NZ$150 million in New Zealand equities.
With the hiring, more than half of the NZ$257.5 million that the sovereign wealth fund added to its internally managed domestic equities when it terminated AMP Capital in October will again be managed externally, said NZ Super spokeswoman Catherine Etheredge.
Ms. Etheredge said NZ Super remains committed to retaining a mix of internal and external management for its more than NZ$1 billion allocation to domestic equities. Terming the allocation to Mint Asset a “flexible mandate,” she said the fund could expand the account in the future.
Mint CEO Rebecca Thomas said in a telephone interview the NZ Super mandate lifts Mint’s overall assets under management to NZ$450 million.
