BT Funds Management appoints Salt

Media Advisory: BT Funds Management appoints Salt - new boutique investment firm

May 10, 2013

BT Funds Management (NZ) Limited (“BTNZ”), a part of the Westpac group of companies in New Zealand,has appointed new boutique investment firm, Salt Funds Management Limited (“Salt”), as an investment manager for certain NZ equity and property portfolios.

BTNZ is the funds management arm of Westpac in New Zealand and the manager of the Westpac KiwiSaver Scheme. Salt has been established by former BTNZ Equities and Property Portfolio Managers, Paul Harrison and Matthew Goodson. The establishment of this relationship is driven by the belief in the benefits to customers of a multi-manager approach and ensures the business objective remains the delivery of high quality, diversified portfolios to Westpac and BTNZ customers. The strategic appointment continues BTNZ’s move towards a fully integrated multi manager approach in the NZ equity and property asset classes.  

“The appointment of Salt offers continuity of underlying management whilst ensuring customers have the benefit of ongoing access to the proven investment capabilities of the individuals at Salt,” Matthew Goldsack, BTNZ’s Head of Investment Solutions said.  The management of BTNZ’s core New Zealand fixed interest and cash portfolios will continue to be largely managed in-house with specialist investment management firms utilised for certain domestic income orientated funds.

Salt’s Paul Harrison said the creation of Salt will see Westpac and BTNZ clients continue to have exposure to the decades of experience of the Salt principals. “We have a deep passion for investing and are extremely excited by the long term prospects of this venture for investors.”

ENDS

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