The Guardians of New Zealand Superannuation (the Guardians) invests government contributions into two funds: the NZ Super Fund and the Elevate NZ Venture Fund.
The NZ Super Fund is a global portfolio of investments that will help pay for the increased cost of universal superannuation payments (New Zealand Superannuation) in the future.
The Elevate NZ Venture Fund is a smaller fund that supports investment in New Zealand companies that have moved beyond the start-up, or ‘angel’, investment phase, and need capital for the next stage of their development.
By serving its mandate, the Fund adds to Crown wealth, improves the ability of future governments to pay for superannuation and reduces the tax burden of the cost of superannuation on future generations of New Zealanders.
Created in 2001 after an extensive public and Parliamentary debate, the Fund is a way for New Zealand to save now in order to make future superannuation costs more affordable. It’s needed because New Zealand’s population is getting older.
Sound governance is critical to maintaining stakeholder and public confidence in the Guardians and the Fund. As an autonomous Crown entity, the Government has given the Guardians the powers and responsibilities necessary to fulfil its mandate. Hence, the Guardians is legally separate from the Crown, which means although we are still accountable to the Government, we have operational independence regarding investment decisions and are, instead, overseen by an independent Board.
The Guardians, which has been recognised globally for its governance, transparency and innovation, is managed by a team of Auckland-based professionals. Functions span investment, portfolio completion, technology, finance and investment operations, risk, internal audit, human resources and corporate affairs. The team is led by Chief Executive Officer Matt Whineray.
We have adopted an approach of being as transparent as commercial sensitivities allow about our investment approach, the Fund's performance and our organisation in general. We aim to keep our stakeholders well informed about what we do and why we do it to maintain their confidence in the Guardians and Fund.