Milford and the NZ Super Fund have mutually agreed to part ways, effective 21 April 2016.

Milford has advised the Fund that it wishes to focus resources on managing New Zealand equities for its growing KiwiSaver, Private Wealth and other predominantly retail client groups. 

NZ Super considers that its active equity portfolio is adequately catered for through its in-house team and mandates with its existing two managers.  

The parting is an amicable one and we expect that what has been a long-standing relationship will continue cordially.