ANZ stays active and replaces one manager

BlackRock will be one of four external fund managers who are responsible for managing the international equity exposure for ANZ's KiwiSaver schemes, investment funds and discretionary investment management service.

ANZ managing director for funds management Fiona Mackenzie said: “ANZ Investments remains an active investor and will continue to make investment decisions that we believe will deliver strong long term investment outcomes for all our customers.

“We are focused on enhancing and growing our Funds Management business and delivering better outcomes for New Zealanders. To ensure we stay competitive and continue to meet the changing needs of our customers, our business will continue to adapt and evolve.”

ANZ Investments continually reviews external managers, including monitoring their contribution to risk and return at a total portfolio level.