The NZ$12.2 billion New Zealand Superannuation Fund (NZ Super) has appointed eSecLending as the third party manager of its securities lending program.
The Boston-based global securities lending manager has already conducted a lending auction of global equity and fixed income assets on behalf of NZ Super, which lent the portfolios for a one-year term. Following this period, the lending rights to the securities will be re-auctioned. NZ Super decided to implement a securities trading program last July with the intention of generating further returns by lending designated securities to approved borrowers. In the past six years, eSecLending has auctioned more than US$1 trillion in assets. It holds offices in Boston, London and Burlington, Vermont.
6 March 2007 00:00
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