New Zealand Superannuation Fund
35 statements across 2 episodes · 12 bullish · 3 bearish · 2 people on the record · first statement Oct 23, 2017 by Ashby Monk · said 47 times in 10 episodes since 2017 · across every show →
Mentions by year
brought up most by Ted Seides (18), Matt Whineray (14), Stephen Gilmore (5), Ashby Monk (5), Raphael Arndt (2), Marlene Puffer (1)
tap a year for its mentions
2026 11 mentions in 2 episodes 6 per episode
2025 1 mention in 1 episode
2023 2 mentions in 2 episodes 1 per episode
2021 5 mentions in 2 episodes 3 per episode
2019 20 mentions in 1 episode
2018 1 mention in 1 episode
2017 7 mentions in 1 episode
Everything said about New Zealand Superannuation Fund, oldest first
Oct 23, 2017 positive
Sep 9, 2019
NZ Super structures active risk allocation across five opportunity baskets
“The risk budgeting process says, alright, we've got a bunch of opportunities, we'll put them into these five different baskets, is what we call them, and then we'll allocate some risk through time to those things, and then the teams are then tasked with going …”
Sep 9, 2019
Sep 9, 2019 bullish
Sep 9, 2019 positive
External managers provide better flexibility for cyclical mandates
“In a construct like ours where through time we might be in those, we might not be in those, it's very hard if you've built the team internally to say, actually, we just don't want to invest anything in this opportunity, because then you've got a team who's sit…”
Sep 9, 2019 positive
Whineray: Storytelling reveals authentic organizational values better than direct questioning
“So you're not going to someone and saying, Oh, what are you value? You're going to someone and say, tell us a story. And those stories are really powerful. And we got great engagement with it and came up with a new set of values for the organization.”
Sep 9, 2019 positive
Sep 9, 2019
Sep 9, 2019 positive
Reference portfolios create clearer decision accountability than SAA models
“You're able to much better attribute accountability for decisions because in an SAA world, you can never actually be at five percent infrastructure. So why are you not there? Are you not there because management has chosen not to be there because they don't re…”
Sep 9, 2019
NZ Super prioritizes risk allocation control and fewer, larger manager relationships
“What the target operating model sees is we want to have sort of simpler processes. We've got, want to have more control over the allocation. So that is the risk allocation that, as opposed to the individual investment decisions, but the risk allocation, we wan…”
Sep 9, 2019 positive
Sep 9, 2019
Sep 9, 2019
Whineray: NZ Super Fund avoids security-level strategic tilting
“So we haven't gone down below to sector or individual securities because we're more confident at the whole of market level of being able to say, what do we think the long run equilibrium prices or value is? And then compare that to the current price. When you …”
Sep 9, 2019 positive
Whineray: Risk budgets should be fixed for years while targets adjust
“So the target does move around. The budget doesn't. Budget we should be looking at every few years, because that shouldn't be changing much. I mean, what's your relative confidence in timber versus global macro versus distressed, or whatever it happens to be. …”
Sep 9, 2019 negative
Strategic asset allocation forces allocations regardless of market attractiveness
“The SAA says you're going to have five percent infrastructure whether you think it's attractive or not. You're going to have five percent timber whether you think it's attractive at the time or not. We wanted that to be a little bit more dynamic and a little b…”
Sep 9, 2019
Sep 9, 2019
Sep 9, 2019 positive
Sep 9, 2019 positive
Whineray: NZ Super Fund is forecast to grow through the end of the century
“And so at the moment that model shows Some withdrawals from the fund in the mid- twenty-thirties, but it's a function of the way that model's working that there are some withdrawals then, but really the big withdrawals start in the mid- twenty-fifties. But eve…”
Sep 9, 2019
Sep 9, 2019
Whineray: Expanding tilting breadth to individual securities degrades performance
“So you can increase breadth, but I think you reduce confidence, and so we probably don't improve the performance of that by doing that. I think that's the key, is to have breadth of non, hopefully uncorrelated positions, but without destroying the confidence b…”
Sep 9, 2019 neutral
Sep 9, 2019
NZ Super Fund leads $10T investor coalition on social media moderation
“Post the Tragedy in Christchurch, we, together with another group of the New Zealand Crown Investors. We got together to lead an engagement with the social media companies about the, well, aimed at preventing the live streaming of objectionable content and sub…”
Sep 9, 2019 neutral
Whineray: Manager capital deployment pace signals market attractiveness
“Generally speaking, if a manager is slow from allocation perspective in terms of, well, slow versus what, but you know, not seeing lots of opportunities, that's pretty useful information for us, because that says, well, actually, maybe this isn't that attracti…”
Sep 9, 2019 positive
Whineray: NZ Super team structure protects against manager capture
“The other way we try to deal with that is those risk basket teams have got a bunch of different people in them, so that it's not just the person who is dealing with the manager at the access point level who is doing the target allocation, it's that team that's…”
Sep 9, 2019 positive
Sep 9, 2019 neutral
Sep 9, 2019
Sep 9, 2019 neutral
Sep 9, 2019
Whineray: Long-term investing fundamentally means never being forced to sell
“Ultimately, it means you're never forced to sell something. Your long horizon allows you to hold things through cycles and allows you to withstand volatility as long as it's combined with that liquidity, the liquidity profile allows you to do that.”
Sep 9, 2019 negative
Sep 9, 2019 negative
Sep 9, 2019 neutral
Whineray: Bespoke mandates require larger, sophisticated asset managers
“If you've got a bunch of different mandates, and you've got a fund, for example, and you find an asset, you've then got to say, okay, well, I'm going to give three bits to the fund, and one bit to this mandate, you know. That sort of allocation infrastructure,…”
Sep 9, 2019 neutral
Whineray: NZ Super Fund holds zero active managers in developed listed markets
“We've got two managers in New Zealand that run active equities. We've got one global emerging markets active manager, and that's it. Right. So we don't have any developed markets, active managers. We don't have any fixed income market active managers in those …”