BlackRock to manage super fund equity mandates
The New Zealand Superannuation Fund has appointed BlackRock - the world's largest asset manager - to manage four new passive global equity mandates.
BlackRock Investment Management (BlackRock), which has managed a fixed income mandate for the fund since 2010, has won new passive global large cap equity, small cap equity, emerging markets equity and Real Estate Investment Trust mandates, effective from 30 June this year.
One of the $23 billion fund's general managers, Mark Fennell, says the four new mandates, which passively track market indices, will provide the fund with cost-effective, diversified exposure to equity markets around the world.
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