Mika Austin has been appointed General Manager Human Resources. Prior to joining the Fund as Head of Human Resources in 2012, Ms Austin was a Senior Associate with Russell McVeagh, specialising in commercial litigation. She has also worked for the Financial Services Authority in London. Ms Austin has a LLB/BA from the University of Auckland.

Tim Mitchell has been appointed Manager, NZ Equities. In this newly created role Mr Mitchell will oversee the establishment and operation of the Fund's active NZ listed equity team, which will focus on NZX companies. Mr Mitchell joined the Fund in 2003, holding a number of roles including General Manager Public Markets and most recently General Manager Corporate Strategy. He was previously a consultant to the Board with responsibility for establishing the Fund's infrastructure and policies. Prior to joining the Fund Mr Mitchell also worked as a principal advisor at The Treasury and as Chief Investment Officer with Colonial First State. Mr Mitchell will commence his new role in early April 2013.

Brent Gibson has been appointed Head of Strategic Development. A Chartered Accountant, Mr Gibson has previously worked for Fidelity International and other organisations in corporate governance, change management and risk-related roles in both New Zealand and the UK. Mr Gibson has previously worked at the Fund as Head of Internal Audit.

Chris Jagger has been appointed Manager, Unlisted Mandates. Most recently an investment director with Lloyds Development Capital in London, Mr Jagger's career includes roles with the Future Fund, GI Partners, Bain & Co and Lehman Brothers. Mr Jagger has a MBA from the Wharton School at the University of Pennsylvania and a BCOM/LLB from the University of Auckland.

ENDS

Media contact: Catherine Etheredge, Head of Communications, [email protected], +64 274 777 501.