The Auckland Future Fund (AFF) Board has appointed Vontobel Asset Management AG as its global investment manager with the responsibility to manage $1.3 billion in funds on behalf of Auckland Council.
This announcement concludes a global search run by the AFF Board which commenced in January 2025, resulting in a competitive, closed tender process with 21 participants starting in March.
The AFF Board conducted a thorough evaluation process to appoint a suitably experienced investment manager with global credentials and decided on Vontobel as the provider in June. Since then, extensive compliance and due diligence work has been ongoing.
Auckland Future Fund Chair Chris Swasbrook says he is thrilled to conclude the process with the appointment of a highly regarded and experienced investment manager.
“It’s gratifying to have secured our preferred supplier, Vontobel, after a worldwide search of high-calibre providers,” says Mr. Swasbrook.
“We’re pleased to have appointed a global investment manager with proven expertise in long-term capital growth and returns. I want to acknowledge the AFF Board and Māpua Wealth, who advised us during this important process.”
Auckland Mayor Wayne Brown says this is another step toward delivering on the council’s Long-term Plan to improve Auckland’s financial and physical resilience.
“The Auckland Future Fund will diversify our investment risk while also providing an annual distribution to the council for additional funding for council services and infrastructure and reduce reliance on rates – that’s exactly why we did this,” says Mayor Wayne Brown.
Lead Councillor Christine Fletcher says it’s great to cap off what has been a rigorous and well-run process, which will benefit future generations of Aucklanders.
“This is a significant final milestone in the establishment of our Auckland Future Fund, and there is a strong expectation to see the fund being actively managed for the long-term benefits of Aucklanders and to help lessen the rates burden on Aucklanders,” Cr Fletcher says.
Vontobel recognises the significance of the Auckland Future Fund and acknowledges that AFF will be an important portfolio in their extensive client base. The AFF Board favoured their transparent and competitive pricing structure, noting excellent attention to customer service, open communication and a tailored investment approach.
Vontobel is delighted to have secured the position to manage this prestigious fund.
Vontobel has a proud history of wealth management, active asset management, and investment solutions dating back to 1924. Headquartered in Zurich, Switzerland, Vontobel has offices in 28 locations worldwide and is listed on the SIX Swiss Exchange, with the founding family remaining as majority shareholders.
“We look forward to delivering on the objectives set by the council, which include creating long-term benefits for the Auckland region and protecting the value of intergenerational investments.” says Bobby Bostic, Vontobel’s Head of Sales New Zealand.
About the Auckland Future Fund
The Auckland Future Fund is managed according to a clear set of investment objectives and policies. It was capitalised from the sale of Auckland Council’s remaining shares in Auckland International Airport Limited (AIAL) in December 2024.
The AFF board intentionally completed the share sale before commencing the global search for an investment manager. These were deliberately treated as distinctly separate processes. This approach helped to maximise the AIAL transaction proceeds, as the market did not expect a share sale before the global investment manager was formally appointed.
The value of the funds at 31 July 2025 was $1.31 billion. The interest earned, from the term deposits and interest-earning bank accounts since the AIAL sale date, to 31 July 2025 is approximately $33.4 million.
A distribution of $38 million was paid to the council for the period 9 December 2025 to 30 June 2025. This was 13.9 per cent higher than forecast, driven by higher-than-forecast sales proceeds from the divestment of AIAL shares and lower transaction costs.
More information on the Auckland Future Fund can be found via the Auckland Future Fund website.
If you'd like to learn more on Vontobel, visit the Vontobel website.
