Who manages your investments

Harbour Asset Management Limited (Harbour)^ manages the investment products available through BNZ, including the BNZ KiwiSaver Scheme, YouWealth, and Private Wealth Series.

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How it works

Investment managers

Harbour decides how to invest the assets of the investment products available through BNZ. It does this directly or by appointing a range of underlying investment managers. Harbour regularly reviews the performance of those managers.

Asset classes

Asset classes are different types of investments, for example shares, bonds, and cash. Harbour and the underlying investment managers bring specific asset class expertise, along with local and global knowledge. They use a mix of active and passive management styles and select the investments for each asset class to achieve their objectives.

Important considerations

When Harbour appoints or reviews its investment managers it considers aspects such as:

historic performance against investment objectives
resources available
governance structures in place
investment processes including how they incorporate environmental, social, and governance (ESG) factors.

Investment managers

Asset class	Investment managers
Cash and cash equivalents	Harbour Asset Management Limited
New Zealand fixed interest	Harbour Asset Management Limited
International fixed interest	Threadneedle Asset Management Limited State Street Global Advisors, Australia, Limited
Australasian equities	Harbour Asset Management Limited
International equities	State Street Global Advisors, Australia, Limited (for BNZ KiwiSaver Scheme, YouWealth) Antipodes Partners Limited (for Private Wealth Series) Acadian Asset Management LLC (for Private Wealth Series) T. Rowe Price Australia Limited (for Private Wealth Series) Epoch Investment Partners, Inc. (for Private Wealth Series)

While BNZ aims to keep this information current, the underlying investment managers can be added to, removed, or changed without prior notice.

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