AIA NZ has partnered with investment funds manager Smartshares – a subsidiary of the New Zealand Stock Exchange company – to manage its $500m unit-linked policy portfolio.
Len Elikhis, AIA NZ’s Chief Product & Investments Officer says the partnership will enable the firm to “…meet the allocation and operational needs of our legacy unit-linked policies”.
The portfolio will be moved into SuperLife funds including cash, international equities, Australasian equities, US equities, European and Asia Pacific equities, and international and New Zealand fixed income.
These changes do not affect the asset allocations of AIA NZ’s unit-linked policy investors, says the insurer.
“This is a valued partnership, and we look forward to exploring opportunities to work together to ensure our investment portfolio continues to create enduring value for our customers and shareholders, as well as helping AIA NZ to deliver its Environmental, Social and Governance (ESG) commitments,” says Elikhis.