NZ Super Fund drops AMP
Monday, November 3rd 2014, 5:53PM
NZ Super Fund has dropped AMP Capital as one of the managers of its investments.
The Guardians of NZ Superannuation announced today that they had terminated AMP Capital’s New Zealand active equities mandate, effective October 30.
The value of the mandate was $257.50 million.
AMP had the mandate since 2003.
The funds would be managed in-house for the time being.
AMP Capital said it would not comment on client decisions.
The move does not affect the NZ Super Fund’s 5% allocation to New Zealand equities.
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