The New Zealand Meat Board (NZMB) has appointed First NZ Capital (FNZC) as investment manager for NZMB’s $70 million of reserves.
The appointment of FNZC follows on from the preparation of a detailed Statement of Investment Policies and Objectives in early 2018 supported by NZMB’s independent investment advisor Cambridge Partners.
Successful farmer consultation from February to April 2018 had strong support with 90 percent support for a move from a conservative fixed-interest investment strategy to a medium- to longer-term balanced portfolio investment philosophy.
NZMB with Cambridge Partners ran a request for proposal process from May to August 2018 inviting a number of potential investment managers to submit proposals.
NZMB will now be implementing a transitional plan for the move to a balanced portfolio over the 2018-19 financial year.