Neuberger Berman has announced it has been appointed as the manager of a US$215 million mandate for the New Zealand Superannuation Fund.
The mandate, which would be overseen by Neuberger Berman’s Principal Strategies Group, would allocate to a customised risk-arbitrage strategy.
The mandate would aim to generate uncorrelated absolute returns arising from mispricing opportunities related to corporate activity such as mergers and acquisitions, corporate restructurings and public offerings.
Paul O’Halloran, Managing Director at Neuberger Berman Australia, said: “We believe the risk-focused approach undertaken by our Investment Team is key in driving returns that are generally uncorrelated to broad equity markets and other traditional asset classes.”
As of end September 2018, the Neuberger Berman Principal Strategies Group managed over US$800 million in assets on behalf of institutions, corporations and private individuals globally.