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Global recognition for Guardians
The NZ Super Fund has for the third year in a row been awarded a perfect score in the annual GSR (governance, sustainability, resilience) scoreboard published by international sovereign wealth fund experts GlobalSWF.
First introduced in 2020, the GSR scoreboard assesses 200 state-owned investors against 25 criteria covering each entity’s governance structure and processes, responsible investment policies and practices, and ability to manage liquidity and operational risk.
The Fund is one of nine investors to achieve a perfect score.
CEO Jo Townsend says GlobalSWF’s scoreboard is a valuable guide to industry best practice for state-owned investors.
“We are delighted to have performed well against these criteria again,” Ms Townsend said.
Ms Townsend said the increase in sustainability and resilience scores globally reflected the increasing awareness among investors of how relevant these criteria were for long-term success.
“Our discussions with peers show a strong ongoing commitment to these areas, in keeping with our shared focus on creating long-term value for stakeholders.”
The Super Fund is also one of 13 New Zealand investors recently recognised as Responsible Investment Leaders by the Responsible Investment Association Australasia (RIAA).
RIAA said Responsible Investment Leaders were required to demonstrate leading practice across four pillars: Responsible Investment commitment and transparency; ESG integration and screens; Stewardship; and Allocation of Capital.
Guardians co-Chief Investment Officer Will Goodwin said RIAA recognition was an important benchmark.
“The RIAA’s four pillars are well aligned with what we consider to be best-practice portfolio management,” said Goodwin.
“Integrating these considerations into an investment strategy is not an optional extra, it is absolutely fundamental to achieving strong, sustainable risk-adjusted returns.”
Beachlands South development moves to next phase
Beachlands South Limited Partnership (BSLP), the company behind the development of a master-planned community in East Auckland, is moving to internalise the management of its flagship project as preliminary earthworks get under way at the 307 hectare site.
BSLP has announced the appointment of Ian Passau to head the project’s new management team. Passau has held senior executive roles with NZX-listed property company Kiwi Property Group, Arvida and Foodstuffs, and helped to design and implement Auckland Airport’s commercial property development programme.
BSLP has also named Guy Milburn as Chief Operating Officer. Milburn has more than 20 years’ experience in the property and construction sectors in New Zealand and Australia, most recently as COO at Lime Global. He previously held various GM roles at Ngāi Tahu Property.
The NZ Super Fund is the majority shareholder in BSLP, alongside local iwi Ngāi Tai ki Tāmaki, property fund Hāpai, and interests associated with construction and property organisation Russell Property Group.
Taranaki Offshore Partnership welcomes new legislation
Taranaki Offshore Partnership (TOP), a joint venture between the New Zealand Superannuation Fund and global infrastructure investor Copenhagen Infrastructure Partners that wants to develop New Zealand’s first offshore wind farm, says the recent passing of the Offshore Renewable Energy Bill is a significant step towards harnessing a world-class fuel source that will generate both sustainable energy and significant downstream economic benefits.
Super Fund features as case study in new ICPM paper
The Super Fund is one of five funds profiled in a paper that looks at the various ways in which the Total Portfolio Approach to investing is being implemented. Guardians Head of Asset Allocation Charles Hyde was one of the contributors to the study, which was published by the Toronto-based International Centre for Pension Management and is available on their website.
Guardians supporting development of award-winning New Zealand Taxonomy
Guardians investment team members Greg Munford and Terina Williams are among a group of industry, investment and sustainability experts creating a sustainable finance framework that is gaining international recognition.
The New Zealand Taxonomy project was last month awarded the 2026 Climate Bonds Initiative Award for Most Innovative Taxonomy. The citation said the project, which is being led by the Centre for Sustainable Finance with support from the Ministry for the Environment, was providing “global leadership in the development of science-based criteria for agriculture and forestry, two of the most difficult sectors for taxonomy development.”
The New Zealand Taxonomy is intended to identify economic activities that either meet sustainability criteria or are actively transitioning towards doing so, thereby helping qualifying New Zealand businesses access global and local green finance.
It is also recognised as one of the first such initiatives to explicitly incorporate climate change adaptation and resilience measures.
Terina Williams, a member of the Forestry & Agriculture Technical Advisory Group, said that as well as encouraging investment in local primary industries, the Taxonomy will also help New Zealand exporters maintain access to important overseas markets.
“A growing number of countries are introducing carbon border adjustment mechanisms or mandatory climate-related disclosures. The Taxonomy provides a practical mechanism for exporters to demonstrate their environmental credentials.”
The broader New Zealand Taxonomy project covers agriculture and forestry, energy, buildings and construction, and transport. It will be submitted to the Government to consider for endorsement in December 2026.
Established in 2010, Climate Bonds Initiative is a UK-based non-governmental organisation focused on developing a large and liquid Green and Climate Bonds market that will help drive down the cost of capital for climate projects and improve access to lower-cost debt in emerging markets. https://www.climatebonds.net/
More information about the New Zealand Taxonomy can be found on the Centre for Sustainable Finance website.
Annual Report wins Gold
In June, the Guardians’ 2025 Annual Report won Gold at the Australasian Reporting Awards, our 13th consecutive Gold Award, and was named best report in the Financial Services sector.
Latest SOI and SPE now available
The Guardians’ 2026-31 Statement of Intent, and 2026/27 Statement of Performance Expectations, have been published and are available on our website.
People News
We recently announced the appointments of Will Fletcher as Head of Private Equity and Alternatives and Dr Anastasia Moskvina as Head of Data Analytics.
Dean Hill, formerly of the Reserve Bank of New Zealand, has been appointed Strategic Relationship Manager, overseeing some of our most important external partnerships, including with Northern Trust and Bloomberg.
Finally, Eleanor Morrison has been appointed Fund Finance Manager, leading financial accounting and reporting for the NZ Super Fund.
And special congratulations to former Guardians’ staffer Joe Margison, recently appointed CEO of Virgin Hotels Collection.
Co-CIOs in the Media
Brad Dunstan tells Investment Magazine’s Darcy Song how our assessment that equity risk premia are likely to reduce has led to us lowering the long-term expected return for our benchmark reference portfolio.
Will Goodwin writes in the NZ Herald that sustainability is fundamental to risk, return, and portfolio resilience over decades, making it a core component of any long-term investment strategy.