Recent UK import, Daria Murray, has quit the New Zealand Super Fund (NZS) after less than half a year in a portfolio management role with the country’s second-largest institutional investor.
An NZS spokesperson confirmed an NBR report last Friday that Murray had “resigned to pursue other career opportunities” – with industry sources tipping ANZ Investments as her new employer.
“We thank her for her work and wish her all the best with her future endeavours,” the NZS spokesperson said.
Murray arrived from London in March to take up a portfolio manager position in the NZS’ expanding active local equities unit. In 2013 the NZS switched its passive internally-managed local shares portfolio, which then stood at about $300 million, to an active style.
However, soon after Murray’s appointment, the fund’s in-house NZ shares team managed over $800 million, including $260 million formerly managed by AMP Capital and about $280 million repatriated from Milford Asset Management after the NZS suspended its mandate in April.
The in-house portfolio has since shrunk after the NZS handed over $150 million to Mint Asset Management last month. Mint joined Devon Funds Management as the only external local equities managers on the NZS list.
Brian Bourdôt, who joined the $30 billion NZS in 2013 as portfolio manager, took over as head of NZ equities from Tim Mitchell at the same time Murray was appointed.
Mitchell has since resigned the fund to “explore opportunities in London”.
Murray was previously vice president global equities at the London office of Alliance Bernstein.
“Daria spent the bulk of her career on the buy-side investing in global equities, prior to which she was at JPMorgan Chase & Co. (formerly Bear Stearns),” an NZS release said in March.
Equity analyst, Tip Piumsomboon, works alongside Bourdôt in the NZS local shares team.
It is unclear whether Murray would be replaced.
“We will not be making further comment,” the NZS spokesperson said.