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BT Funds Management (NZ) Limited

PRI reporting framework 2020

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

  • BTNZ's ultimate parent company is Westpac Banking Corporation (WBC), incorporated in Australia and listed on the Australian Stock Exchange.
  • BT Funds Management (NZ) Limited (BTNZ) is the funds management arm of Westpac New Zealand Limited (WNZL), with operations covering the manufacture and issuance of a range of investment products which fall into two primary categories; KiwiSaver (retirement savings accounts) and Collective Investment Vehicles (unit trusts).
  • BTNZ is a limited liability company registered in New Zealand and licensed by the New Zealand Financial Markets Authority as a Managed Investment Scheme (MIS) manager.
  • BTNZ operates a fund of funds investment model, primarily focussing on the management of diversified multi asset funds that are manufactured and distributed to retail investors. Security selection decisions are generally delegated to specialist third party investment managers for all asset classes, with the exception of the New Zealand fixed interest and cash asset classes where assets are primarily managed by the in-house investment team at BTNZ.
  • More information concerning WNZL’s approach to sustainability can be found at:

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

New Zealand

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).


02.4. Additional information. [Optional]

  • Under a Master Services Agreement (MSA) between WNZL and BTNZ, WNZL makes available to BTNZ the staff required to perform core operational and management roles. WNZL also provides support services under the MSA to assist BTNZ in the course of its operations and business.
  • There are currently approximately 30 staff seconded from WNZL to BTNZ under the MSA.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

  • BTNZ is the funds management arm of WNZL and a wholly owned subsidiary of WBC.
  • BT Financial Group Pty Limited is also a wholly owned subsidiary of WBC, and is also a signatory to the PRI.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.


04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)


Listed equity 0 0 10-50% 36
Fixed income 10-50% 22 10-50% 17
Private equity 0 0 0 0
Property 0 0 <10% 5
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 <10% 2
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 2 0 0
Money market instruments 10-50% 15 0 0
Other (1), specify 0 0 <10% 1
Other (2), specify 0 0 0 0

`Other (1)` specified


06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Internally managed
62 SSA
20 Corporate (financial)
15 Corporate (non-financial)
3 Securitised
Total 100%
Externally managed
60 SSA
15 Corporate (financial)
17 Corporate (non-financial)
8 Securitised
Total 100%

OO 08. Segregated mandates or pooled funds

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Provide a breakdown of your organisation’s externally managed assets between segregated mandates and pooled funds or investments.
Asset class breakdown
Segregated mandate(s)
Pooled fund(s) or pooled investment(s)

Total of the asset class

(each row adds up to 100%)

[a] Listed equity
[b] Fixed income - SSA
[c] Fixed income – Corporate (financial)
[d] Fixed income – Corporate (non-financial)
[e] Fixed income – Securitised
[g] Property
[j] Fund of hedge funds
[p] Other (1), specify

08.2. Additional information. [Optional]

  • All exposures with the exception of interests in hedge funds and alternative risk premia are managed as segregated mandates.

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

96 Developed Markets
4 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]