Papers Reports Reviews
A library of the Guardians’ papers, reviews, articles and other published reports.
How We Invest White Paper - NZ Expansion Capital
Posted On: Thursday, 21 December 2017
By Nathan Tuck and Fiona Mackenzie drawing on research by Chris Jagger, Guardians of New Zealand Superannuation, December 2017. This paper explains how we define expansion capital in a New Zealand context, how we access it, and how it aligns with our endowments and investment beliefs. It also explains the performance of the strategy to date.
How We Invest White Paper - Strategic Tilting
Posted On: Monday, 3 July 2017
By David Iverson and Alex Bacchus, Guardians of New Zealand Superannuation, July 2017. This paper explains how tilting works an how it aligns with our endowments and investment beliefs.
2016 UNPRI Assessment Reports
Posted On: Friday, 12 August 2016
The NZ Super Fund has received an A+ rating for responsible investment governance and strategy in a 2016 benchmarking report by the United Nations Principles for Responsible Investment (UNPRI).
The Fund also received A or A+ ratings across all the specific asset class categories it reported on to the UNPRI.
The full reports are available here.
How we Invest White Paper - Why We Believe Responsible Investing Pays Off
Posted On: Thursday, 19 November 2015
By Anne-Maree O'Connor, David Rae and Rishab Sethi, Guardians of New Zealand Superannuation, November 2015. This paper explores the foundations and implications of the Guardians' ESG beliefs, and summarises the underlying empirical evidence.
How we Invest White Paper: Assessing Manager Capacity - The Case of New Zealand Equities
Posted On: Monday, 21 September 2015
By David Iverson and Paul Gregory, Guardians of New Zealand Superannuation, September 2015.This paper sets out how we evaluate the capacity of active managers in NZ Equities.
Holistic, Not Fragmented. Long-Term, Not Quarterly
Posted On: Friday, 18 September 2015
The following article by Guardians CEO Adrian Orr was published, in association with the Milken Institute, in September 2015.
Current capitalist systems, and general financial market practices, do better than the alternatives at allocating scarce capital to its most productive uses. Witness the rapid per-capita income growth of recent centuries, which is unprecedented in human history. The economic outcomes in health, shelter, security and choice have never been greater.
However, not all is well. Social cohesion, culture and the environment continuously come under immense pressure. Likewise, modern economies lurch between boom and bust. The income and opportunity divide remains wide between and within countries. Cultural dominance strips communities of their sense of purpose. And the environment is being degraded at the cost of future generations. At times, capitalism and financial markets, when left alone, yield outcomes that can be unfair, unstable and unsustainable. How do we create more inclusion and stability?
How we Invest White Paper: Managing Investment Risk and Liquidity
Posted On: Thursday, 3 September 2015
By David Iverson, Guardians of New Zealand Superannuation, September 2015. This paper provides a summary of how we manage investment risk and liquidity in the context of the New Zealand Super Fund’s portfolio.
How we Invest White Paper - Investment Manager Selection and Monitoring
Posted On: Friday, 28 August 2015
By Paul Gregory and Chris Jagger, Guardians of New Zealand Superannuation, August 2015. This paper provides an insight into how investment managers fit into the Fund’s overall investment process.
How We Invest White paper - 2015 Reference Portfolio
Posted On: Sunday, 2 August 2015
The Guardians of New Zealand Superannuation (Guardians), the investment manager of the New Zealand Superannuation Fund (NZSF or the Fund), has adopted a reference portfolio approach since 2010. A reference portfolio approach is first and foremost a governance construct designed to facilitate clear decision making and accountability of decisions. The Guardians has undertaken to review the composition of the Fund’s Reference Portfolio at least once every five years and concluded such a review in the first half of the 2015 calendar year. This paper provides a summary of the 2015 Reference Portfolio review.
Stakeholder research reports
Posted On: Wednesday, 22 July 2015
In late 2014, the Guardians commissioned independent research company Colmar Brunton to undertake stakeholder engagement research on our behalf. The research measured stakeholders’ perceptions of the Guardians' activities and performance, and how well we are connecting and working with our external business partners.
Colmar Brunton undertook two pieces of research:
- qualitative, 1:1 interviews with senior stakeholders; and
- a quantitative survey of a wide group of Guardians and Fund stakeholders.
We value the feedback and views provided, and will use the reports to help improve our performance and external relationships.
For further information: Catherine Etheredge, Head of Communications, 64 274 777 501, [email protected].