Guardians names head of portfolio completion

The Guardians of New Zealand Superannuation has appointed a new head of portfolio completion who hails from QIC's liquid markets team.

Michael McNee joins the portfolio completion effective October 19.

The team manages the NZ$95 billion super fund's public market exposure in equities, fixed income, credit and foreign currency, while also taking care of its liquidity position.

McNee brings two decades of experience in the investment industry spanning sovereign wealth, superannuation and institutional investment mandates in both public and private markets.

He was most recently head of development and integration for QIC's liquid markets group, having previously worked as a senior portfolio manager in QIC's multi-asset solutions team.

"McNee has a strong track record of working across investment teams to develop scalable solutions and improve portfolio outcomes, making him an excellent fit for the portfolio completion team and for the Guardians more broadly," Guardians co-chief investment officer Brad Dunstan said.

"Throughout the recruitment process, McNee impressed us with the breadth of his investment experience, his strategic thinking, and his collaborative leadership style."

McNee said he is excited to be joining the Guardians and helping to build on the strong work already being done by the portfolio completion team.

"It's a great opportunity to work with a terrific investment team, take on a new challenge, and contribute to an organisation I've long respected," he said.

The Guardians recently also appointed Sam Brodie as the head of strategic tilting.

The strategic tilting programme allows the super fund to take advantage of its long investment horizon by adjusting portfolio exposures when market conditions create attractive investment opportunities.

Brodie has been with the fund for close to 13 years, most recently serving as the portfolio manager for strategic tilting since 2017.

Dunstan said: "Strategic tilting is an important part of the fund's investment approach and a significant source of active value-add."

"Sam brings a strong understanding of the fund, our investment approach and our people, along with a structured and thoughtful approach to decision-making. He is a highly respected investor who has played an important role in the evolution of our strategic tilting programme over the past decade."