Papers Reports Reviews
A library of the Guardians’ papers, reviews, articles and other published reports.
2019 Independent Review by Willis Towers Watson
Posted On: Tuesday, 24 September 2019
An independent review of how effectively and efficiently the Guardians is performing its function is carried out every five years, as required by the New Zealand Superannuation and Retirement Income Act 2001. The 2019 review was carried out by global business advisory firm Willis Towers Watson. The review says the Guardians is a global-best practice organisation and effective in carrying out its mandate. Previous independent reviews were carried out in 2014, 2009 and 2004.
How We Invest White Paper - Climate Change
Posted On: Monday, 11 March 2019
By Matt Whineray and Anne-Maree O'Connor. This paper sets out our climate change strategy, how we have implemented it and some of the frameworks we have used.
How We Invest White Paper - NZ Expansion Capital
Posted On: Thursday, 21 December 2017
By Nathan Tuck and Fiona Mackenzie drawing on research by Chris Jagger, Guardians of New Zealand Superannuation, December 2017. This paper explains how we define expansion capital in a New Zealand context, how we access it, and how it aligns with our endowments and investment beliefs. It also explains the performance of the strategy to date.
How We Invest White Paper - Strategic Tilting
Posted On: Monday, 3 July 2017
By David Iverson and Alex Bacchus, Guardians of New Zealand Superannuation, January 2019. This paper explains how tilting works an how it aligns with our endowments and investment beliefs.
Office of the Auditor General Review of the Guardians and Fund 2008
Posted On: Thursday, 1 September 2016
2016 UNPRI Assessment Reports
Posted On: Friday, 12 August 2016
The NZ Super Fund has received an A+ rating for responsible investment governance and strategy in a 2016 benchmarking report by the United Nations Principles for Responsible Investment (UNPRI).
The Fund also received A or A+ ratings across all the specific asset class categories it reported on to the UNPRI.
The full reports are available here.
How we Invest White Paper - Why We Believe Responsible Investing Pays Off
Posted On: Thursday, 19 November 2015
By Anne-Maree O'Connor, David Rae and Rishab Sethi, Guardians of New Zealand Superannuation, November 2015. This paper explores the foundations and implications of the Guardians' ESG beliefs, and summarises the underlying empirical evidence.
How we Invest White Paper: Assessing Manager Capacity - The Case of New Zealand Equities
Posted On: Monday, 21 September 2015
By David Iverson and Paul Gregory, Guardians of New Zealand Superannuation, September 2015.This paper sets out how we evaluate the capacity of active managers in NZ Equities.
Holistic, Not Fragmented. Long-Term, Not Quarterly
Posted On: Friday, 18 September 2015
The following article by Guardians CEO Adrian Orr was published, in association with the Milken Institute, in September 2015.
Current capitalist systems, and general financial market practices, do better than the alternatives at allocating scarce capital to its most productive uses. Witness the rapid per-capita income growth of recent centuries, which is unprecedented in human history. The economic outcomes in health, shelter, security and choice have never been greater.
However, not all is well. Social cohesion, culture and the environment continuously come under immense pressure. Likewise, modern economies lurch between boom and bust. The income and opportunity divide remains wide between and within countries. Cultural dominance strips communities of their sense of purpose. And the environment is being degraded at the cost of future generations. At times, capitalism and financial markets, when left alone, yield outcomes that can be unfair, unstable and unsustainable. How do we create more inclusion and stability?
How we Invest White Paper: Managing Investment Risk and Liquidity
Posted On: Thursday, 3 September 2015
By David Iverson, Guardians of New Zealand Superannuation, September 2015. This paper provides a summary of how we manage investment risk and liquidity in the context of the New Zealand Super Fund’s portfolio.