NZ Super Fund appoints new manager for equities mandate

Auckland, New Zealand. Photo by Dan Freeman on Unsplash

The Guardians of New Zealand Superannuation, which manages the NZ$37.4 billion ($25.6 billion) NZ Super Fund, has announced the appointment of Sam Porath as the manager of NZ Equities.

In his new role, Porath will be responsible for managing the pension fund’s internal New Zealand equities mandate. He will report to Will Goodwin, head of direct investment at NZ Super.

Porath has been with the Guardians since 2013 as a portfolio manager and was responsible for developing valuation models and managing positions within the Strategic Tilting team.

Prior to that, Porath worked as a consultant with Seattle-based Russell Investments where he undertook consulting roles in New Zealand and Australia. He has previously held roles with Schroders Investment Management in London, ANZ and Fletcher Building.

The NZ Super Fund has total domestic sharemarket holdings of about NZ$1.8 billion ($1.2 billion). The fund complements its internal NZ equities holdings with external mandates with investment managers Devon Funds Management and Mint Asset Management and a 19.9 per cent cornerstone shareholding in listed retirement company Metlifecare.

The pension fund returned 12.43 per cent after costs and before NZ tax in the financial year 2017-2018.

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