ESG exclusive: Court finds Cullen Fund not responsible for everything

Wed, 24 Mar 2021

Almost 20 years after he floated the concept, Sir Michael Cullen is rarely linked to the New Zealand Superannuation Fund by name these days.But if the ‘Cullen Fund’ is no longer in common usage as shorthand for the Super Fund, the now more than $55 billion sovereign wealth fund retains its political roots.Since going live in 2003, the fund has been subject to numerous government nudges, most famously a directive from then finance minister Bill English in 2009 to ramp up its local investments to 40% of total fund assets.The fund neat...

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