New Zealand’s Accident Compensation Corporation (ACC) has appointed David Iverson as Head of Dynamic Asset Allocation for its NZ$46 billion portfolio.
Iverson will join the ACC in January, leaving his current position as Head of Asset Allocation at New Zealand Super after 11 years with the fund.
At NZ Super, he was responsible for the strategic tilting program, a form of dynamic asset allocation in which the investment team takes views on equity, bond, credit and currency markets, and more recently also commodity markets.
The tilting program has built up an impressive track record, achieving a return of 1 per cent a year since its inception in April 2009, where it was targeting a return of only 0.4 per cent.
Iverson is also well-known for his views on risk management, publishing a book on the subject titled ‘Strategic Risk Management: A Practical Guide to Portfolio Risk Management’.
Sam Porath, Manager of New Zealand Equities, will also move to the ACC, after 8 years with NZ Super.
“We thank David and Sam for their contributions to the Guardians, and look forward to remaining in contact with them in their new positions,” Matt Whineray, CEO of NZ Super, said in a stakeholder update.
Last month, NZ Super welcomed Toby Selman, who joined the fund as Senior Advisor, Real Estate. Before joining, Selman was Chief Operating Officer of Delin Property, one of the largest developers and investors in logistics real estate in Europe.