NZX fund boss leaves

Smartshares chief Hugh Stevens left the business in June, setting a retirement date.

Former head of BNP Paribas Securities Services NZ, Stevens joined the NZX-owned business five years ago, expanded its range of exchange-traded funds and oversaw two major acquisitions in the last few years. Did. ASB Superannuation Master Trust and Quay Street. .

The SuperLife KiwiSaver scheme has also achieved Default Scheme status for the first time in 2021, adding approximately $340 million to the Group’s funds under management.

During his tenure, Smartshares and SuperLife combined assets under management increased from approximately $2 billion to more than $8 billion at the latest tally.

Smartshares has also covered several Pacific retirement plans over the past few years. This includes, most recently, his $200 million Cook Islands Pension Plan.

In a statement this morning, NZX chief Mark Peterson said, “We are confident that Smartshares will become even stronger in the future.”

NZX has a medium-term goal of growing Smartshares to at least $20 billion under management.

“We thank Hugh for his contributions and wish him well in the future,” Peterson said.

He said the group will soon start recruiting new fund bosses.