NZ Super Fund suspends Milford's mandate as FMA probe continues

Thu, 02 Apr 2015

By Suze Metherell April 2 (BusinessDesk) - The Guardians of New Zealand Superannuation, tasked with managing the New Zealand Superannuation Fund, has suspended its investment mandate with Milford Asset Management while Milford is investigated by the Financial Markets Authority. The sovereign fund, which has some $28.98 billion under management, will manage the funds internally until the financial markets' watchdog finishes its probe into the fund manager, it said in a statement. Milford has had a New Zealand active equity mandate from the...

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