• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / Pacific fund hires Russell for A$260m mandate

Pacific fund hires Russell for A$260m mandate

September 13, 2020

Matthew Arnold: Russell Investments NZ director institutional

Russell Investments has won the consulting gig for the A$260 million of sovereign funds owned by the tiny Pacific archipelago of Tuvalu.

Despite its ranking as the smallest GDP (about US$40 million) in the world, the Pacific nation – a group of nine atolls and reef islands – has built up a comparatively large pot of investment money held mainly in the Tuvalu Trust Fund.

The government has also established the Consolidated Investment Fund, the Tuvalu Survival Fund and the Falekaupule Trust Fund to “meet specific investment goals”, Russell says in a release.

Matt Arnold, Russell NZ director institutional, said in the statement: “We will bring the global capabilities of Russell Investments to serve these funds which are of vital importance to the ongoing development of Tuvalu and to current and future generations of Tuvaluans.’

Russell has been involved in the Pacific for some time, most notably as investment consultant for the almost NZ$200 million Cook Islands National Superannuation Fund.

Guy Fisher, Russell NZ senior consultant (and point man for the Cook Island fund), said in the release that the firm was pleased to be taking on the Tuvalu investment responsibilities.

Fisher said Russell would “ensure the funds build on their long record of success and continue to be managed in a way that serves the interests of the people of Tuvalu”.

Previously, the Auckland-headquartered consulting firm, EriksensGlobal, was investment adviser to the Tuvalu funds. According to the latest published annual report (2017), the Tuvalu Trust Fund split its assets equally between the AMP Capital Extended Multi-Asset Fund and the Schroders Real Return Fund.

Only 200 metres across at its widest point, the Pacific state comprising nine small atolls and reef islands derives most of its income from selling fishing rights as well as generating a substantial economic boost from its internet domain handle of .tv – reportedly worth up to 10 per cent of the government’s annual revenue.

Tuvalu – population about 12,000 – is also at the pointy end of climate change with rising oceans threatening to swamp the low-lying region (averaging about 3 metres above sea level) within the next 50 to 100 years, according to some scenarios.

Dotted with various government funds, the Pacific Islands has emerged as a competitive space for NZ and Australian-based investment advisers.

Over the last couple of years, for example, the NZX-owned SuperLife has won two mandates from a restructured Nauru investment vehicle and the Tongan Retirement Fund, respectively.

The Pacific Provident Fund and Social Security Forum – a collective of regional government investment vehicles – lists 18 members, a figure that includes the NZ Superannuation Fund and the Ngati Awa group.

 

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Investment News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Search by Keyword

Most Recent Investment News

Salt diversifies with another AMP Capital hire

April 14, 2021

FMA draws hard line under fund fees, softens on KiwiSaver advice costs

April 14, 2021

Passive move activates AMP NZ investment role; double exit at AMP Capital…

April 11, 2021

… as Ms Fixit comes to the rescue at AMP HQ

April 11, 2021

Lifetime deadline set for late April

April 11, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • NZ Funds directors back on board posted on April 24, 2016
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Kiwi Wealth hits the bigger time posted on November 26, 2017

Sponosored Content

Responsible goes retail: why Mint has opened the SRI tin

David-Boyle

Jumping lessons: what all investors can learn from GameStop loss

What do ‘Kiwi’ experts see for 2021?

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions