Institutional asset management since 1987
Patient capital, for the long view.
We manage pensions, endowments and sovereign reserves for institutions that measure success in decades. We say less than most, and we mean it.
Our approach
Assets under management
NZ$184.2bn
As at 30 June 2026. Audited by an independent custodian.
Three commitments we have not changed in thirty-nine years.
- I
Own less, know more.
Concentrated portfolios of businesses we can explain in a paragraph, held for as long as that paragraph stays true.
- II
Report plainly.
One letter a quarter, written by the people who made the decisions, including the ones that went wrong.
- III
Align, then act.
Our partners invest alongside every client, on the same terms, in the same funds.
6:12
In conversation
“Every year someone tells us the annual report is dead. Every year it’s still where the truth is hiding.”
Eleanor MarshChief Investment Officer
Read the transcript
