The Board of the Guardians of New Zealand Superannuation has appointed Paul Dyer Chief Investment Officer. Currently Chief Investment Officer for AMP Capital Investors, Paul will take up his position on 19 April 2004.

As Chief Investment Officer, Paul will play a key role in the development of the New Zealand Superannuation Fund's investment strategy. In particular, he will focus on identifying the best strategies for achieving the Guardians' objective of maximising returns without undue risk to the Fund as a whole. Paul will work closely with the Fund's Head of Portfolio Construction, Tim Mitchell.

New Zealand Superannuation Fund Chief Executive, Paul Costello, said: "We're delighted with Paul's appointment and believe his strategic and market expertise will complement the investment experience of the Fund's management team."  

Commenting on his appointment, Paul Dyer said: "The New Zealand Superannuation Fund offers an exciting challenge.  I welcome the opportunity to focus on long-term investment strategy within such an important enterprise."     

Paul has been with AMP Capital Investors, New Zealand's largest fund manager with $10 billion under management, for eight years. As Chief Investment Officer, he oversees the domestic fixed interest and equities operations, as well as strategic and tactical asset allocation.

Prior to AMP Capital Investors, Paul was director, strategy at SBC Warburg (Australia) and has held positions as chief economist with Buttle Wilson, and economist with the New Zealand Treasury.

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For more information please contact:

Paul Costello, CEO, New Zealand Superannuation Fund, 09 300 6980 Daniel Riordan, Media Relations, New Zealand Superannuation Fund, 0274 921 221