We have four "endowments" or competitive advantages - core features of the Fund that are derived from how we were established and which help guide us in our investing decisions.
We think that the best way to achieve our mandate is to have a growth-oriented, diversified portfolio. We are opportunistic investors; our strategies play to our natural advantages such as our long time horizon and our liquidity tolerance.
We use a Reference Portfolio, which is set by the Guardians’ Board, to benchmark the performance of our actual investment portfolio and the value we are adding through our active investment strategies.
The real-life composition of the Fund at any one time is called the Actual Portfolio. It is the sum of all the investments we have made which reflect the Reference Portfolio, plus any value-adding "active" investments.
Here you’ll find an overview of how we invest in our home market of Aotearoa New Zealand, including information about a New Zealand investment directive issued by the Government that helps inform our approach.