The Auckland Future Fund (AFF) Board has appointed Vontobel Asset Management AG as its global investment manager with the responsibility to manage $1.3 billion in funds on behalf of Auckland Council.
AFF Chair, Chris Swasbrook said he was thrilled to appoint such a highly regarded and experienced investment manager.
“It’s gratifying to have secured our preferred supplier, Vontobel, after a worldwide search of high-calibre providers,” says Mr Swasbrook.
“We’re pleased to have appointed a global investment manager with proven expertise in long-term capital growth and returns. I want to acknowledge the AFF Board and Māpua Wealth, who advised us during this important process.”
Auckland Mayor, Wayne Brown said the appointment was another step toward delivering on the Council’s Long-term Plan to improve Auckland’s financial and physical resilience.
“The Auckland Future Fund will diversify our investment risk while also providing an annual distribution to the council for additional funding for council services and infrastructure and reduce reliance on rates – that’s exactly why we did this,” he said.
Lead Councillor, Christine Fletcher said the appointment was a significant final milestone in the establishment of the Auckland Future Fund.
“There is a strong expectation to see the fund being actively managed for the long-term benefits of Aucklanders and to help lessen the rates burden on Aucklanders,” Cr Fletcher says.
The AFF Board favoured Vontobel’s transparent and competitive pricing structure, noting excellent attention to customer service, open communication and a tailored investment approach.
Vontobel has a history of wealth management, active asset management, and investment solutions dating back to 1924. Headquartered in Zurich, Switzerland, Vontobel has offices in 28 locations worldwide and is listed on the SIX Swiss Exchange, with the founding family remaining as majority shareholders.
“We look forward to delivering on the objectives set by the council, which include creating long-term benefits for the Auckland region and protecting the value of intergenerational investments,” said Vontobel’s Head of Sales New Zealand, Bobby Bostic.
For more information on the Auckland Future Fund, visit aucklandfuturefund.co.nz. For more information on Vontobel, visit vontobel.com.
