ANZ Investments to ‘explore strategic investment partnerships’

ANZ Investments has announced it has signed a non-binding memorandum-of-understanding (MOU) with Mercer, as it moves to evolve and grow its business.

Managing Director of ANZ Funds Management, Fiona Mackenzie, says the MOU is a development which proposes to leverage ANZ Investments’ local expertise with Mercer’s global capability and scale for the benefit of customers.

“Since KiwiSaver’s inception in 2007, ANZ Investments has successfully grown to become the country’s biggest provider. We are proud of the service we provide to our more than 670,000 customers.

“We take our responsibility to support their financial wellbeing seriously, through accelerating ownership of their first home, growing their investment balances, and improving outcomes for life after 65.

“However, to ensure we stay competitive and continue to meet the changing needs of our customers, our business model needs to continue to adapt and evolve,” Ms Mackenzie said.

ANZ Investments’ arrangements with Mercer are intended to leverage Mercer’s global expertise in investments and investment governance.

Mercer is a global leader in investments and retirement, with US$393 billion of assets under management [1] and US$16.45 trillion in assets under advisement [2] globally.

ANZ Investments also announced a separate non-binding memorandum-of-understanding with BlackRock. The arrangements with BlackRock include the provision of risk management services to support portfolio resilience.

BlackRock offers global investment expertise across risk management and innovative investment portfolio solutions.

Ms Mackenzie said customers can be confident any potential investment partnerships will be designed with the aim of improving customer outcomes in the long term and that ANZ Investments remains accountable for its investment decisions.

“ANZ Investments remains an active investor and will continue to select assets that we believe will perform strongly over the long term.”

In addition, ANZ’s current Chief Investment Officer Paul Huxford has decided to take the next step in his career and will be leaving ANZ in December.

Ms Mackenzie said Mr Huxford has been a valued member and leader of ANZ Investments for the last five years.

“Paul has contributed immeasurably to the growth of our investment business, and we’ve valued his expertise. Having built a strong team and delivered several important initiatives, he felt this was the natural time for him to hand over to a new leader.”

Ms Mackenzie says he will continue to perform his regular duties until December to ensure a smooth transition.

The process to find his replacement is underway.