The Guardians of New Zealand Superannuation have terminated mandates with Granthan, Mayo, Van Otterloo & Co LLC to manage equities.
GMO had mandates to manage global equities, non-US small-capitalised equities and multi-strategy equities with the fund.
GMO Renewable Resources continues to manage the fund's New Zealand timber assets.
The guardians did not give a reason for the decision but said it did not affect the fund's strategic asset allocation to global listed equities.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- MARKET CLOSE: NZ shares fall as global mood sours further, Air NZ, Sky TV and Xero drop
- Harmoney, with $30m on hand, wants to be cash-flow neutral before raising new funds
- NZ tech stocks brace for a rocky few months
- Milk price rise has economists scratching their heads
- Loss of Premier League rights reveals limit to Spark's on-demand video ambition