New BNZ share fund manager

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Wednesday, January 5th 2005, 1:38AM

Rae Ellingham is to take responsibility for the management of BNZ's New Zealand Equities Discovery Trust. This appointment recognises the expertise and commitment Ellingham has made to the team since joining BNZ Investment Management as Manager Equity Research.

Furthermore, this appointment reflects BNZIM’s commitment to continually enhancing performance.

This extends Ellingham's current role in which she is responsible for the analysis and recommendation of companies to be included in the New Zealand equity portfolios. Ellingham has a Master of Commerce and Management degree (First Class Honours) majoring in Finance and Economics.

Prior to joining BNZIM, Ellingham was employed as an investment banking executive with Morel & Co. Before this she was an Investigator in the Commerce Commission’s Network Industries Unit.

Reg Montgomery, Manager Equity Investments will continue to be involved in the day to day running of the fund.

Montgomery has a strong background in investment management having previously been Head of Research for Westpac Investment Management. In total Montgomery has over 20 years of investment management experience, the last 11 within the Bank of New Zealand Investment Management team.

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