NZ Super Fund suspends Milford Asset Management
POSTED ON: 2 April 2015
The Guardians of New Zealand Superannuation, the manager of the New Zealand Superannuation Fund, has suspended the Fund’s mandate with Milford Asset Management until a Financial Markets Authority (FMA) investigation into Milford is completed.
In the interim, the funds will be managed internally.
Milford Asset Management was appointed to a New Zealand active equity mandate by the Guardians in 2009. The value of the mandate is NZ$281 million.
Media contact: Catherine Etheredge, Head of Communications, New Zealand Superannuation Fund, [email protected], 0274 777 501