Page last updated - Monday, 19 May 2014

Our History

The New Zealand Superannuation Fund (Fund) was created by an Act of Parliament on 11 October 2001. The Guardians of New Zealand Superannuation (Guardians) were announced on 26 August 2002, with the first Board meeting taking place on 9 September 2002.

Having developed a corporate and investment structure and strategy, the Board of the Guardians appointed a Chief Executive Officer in March 2003. A new Chief Executive Officer was appointed in February 2007.

The original asset allocation was announced in August 2003, and the following month the Fund began receiving contributions from the Crown. On 30 September 2003 the investment programme commenced with $2.4 billion in cash.

See the table below for further information on the Fund's history.


2012                              

December
October
September
June
May

2011                           

February

2010                          

July

March
  • Acquired 50% of Shell's New Zealand downstream assets - now Z Energy
February
  • First catastrophe bond investment

2009

November
  • Second Independent Review of Guardians published
  • Catherine Savage and Stephen Moir appointed to the Board
  • David Newman appointed Deputy Chair of the Board
September
July
  • Government announces temporary cessation of capital contributions
June

2008                        

December

November
  • Annual review of UNPRI signatories' performance puts the Guardians among the top performers in the region and in the upper half of performers globally
October
  • The Guardians join a world-wide effort to encourage listed global companies to embrace international standards on human rights, working conditions, the environment and anti-corruption

2007

December

October
  • Tobacco stocks excluded
January
  • Northern Trust appointed new custodian ( effective 1 July 2007 )
  • John Evans appointed to the Board
  • Chief Executive appointed ( Adrian Orr )

2006

October
  • Minority interest acquired in Kaingaroa Forest
August
  • ISS retained to assist with proxy voting
April

2005

March

2004

November
  • First Independent Review of the Guardians of New Zealand Superannuation, conducted by Jonathan Eriksen
September
  • David Newman and Glen Saunders appointed to the Board

2003

September
  • New Zealand Superannuation Fund commenced investing with $2.4 billion in cash
August
March
  • Paul Costello appointed as first Chief Executive

2002

August

2001

October

2000

November
  • New Zealand Superannuation Bill introduced into Parliament

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