The New Zealand Superannuation Fund, the nation’s largest fund manager, says stock pickers do best in the domestic market and that’s why it will begin actively managing local equities later this year.
“The nature of the New Zealand market is that those who put the effort into active management get rewarded for it,” Tim Mitchell, general manager of corporate strategy, said in a telephone interview. The Auckland-based fund yesterday appointed him manager of New Zealand equities……………………………………….Full Article: Source