Vanguard to manage NZ Superannuation Fund

The New Zealand Superannuation Fund has appointed Vanguard Investments Australia to manage its international government bond portfolio.

Vanguard's mandate is to closely replicate the Citigroup World Government Bond Index, whereby 10 per cent of the fund's total assets are allocated to international bonds.

Of this, half is allocated to government bonds under the Vanguard mandate and half will be invested in corporate bonds.