Track the Guardians' progress since the NZ Super Fund's legislation was passed in 2001.
2023
The NZ Super Fund celebrates 20 years of investing for all New Zealanders, now able to measure its performance against it's 20-year rolling benchmark and having surpassed it
We were named the best performing sovereign investor globally between FY13 and FY22 by data platform GlobalSWF.
2022
Introduced a new purpose and vision for the Guardians
2021
Committed to achieving net zero by 2050
The Guardians celebrates 20 years from when it was established through legislation
Agreed to adopt sustainable finance approach
Catherine Drayton appointed as Board Chair
2020
Met our carbon targets and introduced new 2025 targets
2019
Elevate NZ Venture Fund established
Independent Review says Guardians is operating at global best practice level
Guardians initiates social media collaborative engagement following the Christchurch terrorist attack, with an objective to strengthen controls to prevent the livestreaming and distribution of objectionable content
Companies involved in the manufacture of civilian automatic and semi-automatic firearms, magazines or parts are excluded from investment portfolio
Government announces a new $300 million venture capital fund, to be administered by the Guardians under a new mandate
2018
Matt Whineray appointed CEO.
Guardians commits to preferred partner relationship with Māori co-investment fund Te Pūia Tāpapa
Stephen Gilmore appointed CIO
Guardians wins YWCA Equal Pay Award for innovation in equal pay and employee benefits
2017
Government resumes capital contributions to the Fund after an eight year suspension with a $500 million injection
Adrian Orr resigns as CEO to take up position as governor of New Zealand’s central bank
Guardians shifts to low-carbon passive equities portfolio
Becomes founding member of the One Planet Sovereign Wealth Fund Working Group
Guardians named in Bretton Woods II study of most responsible asset allocators
2016
New Board Chair – Catherine Savage
Wins Deloitte IPANZ Public Sector Excellence Award for Leadership Excellence
Fund reaches $30 billion – double the amount of Government contributions to date
Guardians announces Climate Change Strategy
2015
Implements Risk Budgets
Reference Portfolio reviewed
A+ rating from the UNPRI for overall approach to responsible investment
Teams with other investors to establish NZ Corporate Governance Forum
Winner, Excellence in Governance, Deloitte Top 200 Awards
Winner, Governance Award, Asian Investor’s 2015 Institutional Excellence Awards
CEO Adrian Orr becomes Chair of IFSWF
2014
Risk Allocation Process developed
Team grows to 100
2013
Guardians celebrates 10 years of investing
In-house active NZ equities team established
Introduction of PEARL performance reporting system
2012
New Board Chair – Gavin Walker
Winner, aiCIO Awards, world’s most innovative sovereign wealth fund
Winner, Chief Information Officer, Executive Team of the Year
First exclusions of individual securities for breaches of responsible investment standards
Target operating model introduced
2010
Reference Portfolio introduced
2009
Global Financial Crisis – March 9, 2009 – the low point in equity markets. From peak to trough the Fund fell by -30.70%
In-house Portfolio Completion (Treasury) function established
Strategic Tilting strategy begins
Following a change in the NZ Government, capital contributions are suspended – last contribution $250m
A Ministerial Direction seeking to increase the proportion of the Fund that is invested in New Zealand is received
Committed to the Santiago Principles of Best Practice for Sovereign Wealth Funds
Team size hits 50
2008
Companies manufacturing cluster munitions and nuclear explosive devices excluded
Lehman Brothers bank fails – prompting establishment of crisis management team at the Guardians to make quick decisions and manage liquidity
2007
Responsible Investment Framework developed
Guardians divests from tobacco stocks
Appointment of new master custodian, Northern Trust replacing BNP Paribas
Adrian Orr takes over as CEO
2006
Founding signatory to the United Nations Principles for Responsible Investment
Guardians makes first divestment - whaling and anti-personnel weapons stocks
2005
First investments in New Zealand and US timber
First investments in NZ private equity funds
2003
First contribution ($2.4 billion)
Commenced investing in October 2003
Initial Strategic Asset Allocation determined
2002
First Board appointed
David May appointed as Chair
2001
New Zealand Superannuation and Retirement Income Act 2001 passed and New Zealand Super Fund created