Superfund drops GMO from equities mandates

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.

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