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NZ Super Fund named world's most innovative
Thursday, 6 December 2012 11:10am

The New Zealand Superannuation Fund has been named the world's most innovative sovereign fund.

Last night, the Fund won the prestigious Sovereign Wealth Fund category in the 2012 aiCIO Industry Innovation Awards in New York.

The other finalists were the Australian Future Fund; Singaporean fund GIC; Norges Bank Investment Management and the State Oil Fund of Azerbaijan.

Chairman Gavin Walker said the award recognised the Fund's transparency, consensus-based decision-making and a shift away from a traditional asset allocation 'bucket' approach to investing.

It's understood the Fund's innovative approach is based on a passive Reference Portfolio.

The Fund's investment team must be convinced that any active investment will do better than this portfolio.

The Fund has also moved to bring more investment management in-house in an effort to reduce costs and add value.

"It's great as a New Zealand organisation to complete with global peers and win," said Walker.

"NZ Super is pushing further and faster than any of its competitors."

The award was the second this week for the Fund, which on Tuesday won the Public Sector Annual Report category in the 2012 New Zealand Institute of Chartered Accountants Awards, for its 2010/11 Annual Report.

Earlier in 2012 the Fund won the INFINZ Excellence in Treasury Award and the Executive Team of the Year in the New Zealand CIO Awards.

It was also rated 1st equal for combined Transparency & Governance, out of more than 80 funds, in a 2012 study by the Centre for Financial Stability (Argentina).

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