New Zealand’s Adrian Orr has been elected Deputy Chair of the International Forum of Sovereign Wealth Funds (IFSWF), a voluntary group of currently 25 sovereign wealth funds located globally. The appointment is for a two-year term, after which Mr Orr will take on the Chairmanship of the IFSWF for a further two years.

Mr Orr will take on the role in addition to his responsibilities as Chief Executive of the Guardians of New Zealand Superannuation, which manages the New Zealand Superannuation Fund.

“Sovereign wealth funds have been a rapidly growing influence in the global financial landscape, in terms of their proliferation, assets under management and their stabilising influence as long-term investors,” said Mr Orr.

“I am proud to be involved in governing the IFSWF going forward, as the Forum promotes international best practice amongst long-term investors, and has greatly enhanced the understanding of foreign investment among host and recipient countries.”

“The New Zealand Superannuation Fund has played an important role in the development of the IFSWF, including assisting directly in the implementation of best practice guidelines for the operation of sovereign wealth funds,” Mr Orr said.

“The IFSWF is now establishing a permanent secretariat, having initially worked with the International Monetary Fund’s services. It will be a privilege to serve on the Board during these formative stages in the organisation’s development.”

IFWSF members meet to exchange views on issues of common interest, and to facilitate an understanding of the Santiago Principles and sovereign wealth fund activities.

Mr Orr joined the Guardians of New Zealand Superannuation in February 2007 from the Reserve Bank of New Zealand where he was Deputy Governor. He has also held the positions of Chief Economist at Westpac Banking Corporation, Chief Manager of the Economics Department of the Reserve Bank of New Zealand and Chief Economist at The National Bank of New Zealand. He has also worked at the NZ Treasury and the OECD based in Paris. Mr Orr is a Board member of the Pacific Pensions Institute, a member of the Long-Term Investment Council for the World Economic Forum and of the Expert Advisory Group for the World Bank's Treasury. He is also a Board Member of the Emory Center for Alternative Investments at Emory University, Atlanta, Georgia.

ENDS

For more information about the IFSWF see www.ifswf.org.

To speak to Mr Orr contact: Catherine Etheredge, Head of Communications, NZ Super Fund, 0274 777 501, cetheredge@nzsuperfund.co.nz