This article needs to be updated.(January 2017)
|Founded||8 August 1988|
|Headquarters||Wellington , New Zealand|
Rob Morrison, Chairman
Anthony Muh, CEO Asia
Kevin Baker, CFO
H.R.L. Morrison & Co is a specialist alternative asset manager focusing primarily on infrastructure, private equity and property investment with offices in New Zealand, Australia and Hong Kong.
New Zealand is a sovereign island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses—the North Island, and the South Island —and around 600 smaller islands. New Zealand is situated some 2,000 kilometres (1,200 mi) east of Australia across the Tasman Sea and roughly 1,000 kilometres (600 mi) south of the Pacific island areas of New Caledonia, Fiji, and Tonga. Because of its remoteness, it was one of the last lands to be settled by humans. During its long period of isolation, New Zealand developed a distinct biodiversity of animal, fungal, and plant life. The country's varied topography and its sharp mountain peaks, such as the Southern Alps, owe much to the tectonic uplift of land and volcanic eruptions. New Zealand's capital city is Wellington, while its most populous city is Auckland.
Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. It is the largest country in Oceania and the world's sixth-largest country by total area. The neighbouring countries are Papua New Guinea, Indonesia and East Timor to the north; the Solomon Islands and Vanuatu to the north-east; and New Zealand to the south-east. The population of 25 million is highly urbanised and heavily concentrated on the eastern seaboard. Australia's capital is Canberra, and its largest city is Sydney. The country's other major metropolitan areas are Melbourne, Brisbane, Perth and Adelaide.
Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China and commonly abbreviated as HK, is a special administrative region on the eastern side of the Pearl River estuary in southern China. With over 7.4 million people of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is the world's fourth most densely populated region.
Morrison & Co was founded in 1988 by H. R. Lloyd Morrison offering a broad range of investment advisory services across sectors. In the early 1990s Morrison & Co narrowed its focus to infrastructure investment and advisory services as major privatizations took place in Australia and New Zealand. Morrison & Co was an active investor and adviser in privatisations of Australasian airports, ports and energy businesses.
Hugh Richmond Lloyd Morrison was a Wellington, New Zealand-based investment banker and entrepreneur. He founded H.R.L. Morrison & Co in 1988, and Morrison & Co launched the infrastructure company Infratil in 1994.
Privatization can mean different things including moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatized; in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, and prison management.
Morrison & Co launched Infratil, one of the world's first listed infrastructure funds in 1994. Infratil (NZX : IFT) is listed on both the New Zealand Exchange and Australian Securities Exchange and was named Deloitte/Management Magazine Company of the Year in 2007. Infratil's major investments include TrustPower, Wellington Airport, NZ Bus RetireAustralia and Canberra Data Centres. Infratil pays Morrison & Co a management fee that is tied to the total value of assets under management. Since its founding in 1994 through 31 March 2015, Infratil has delivered average annual returns of 18%.
Infratil Limited is a New Zealand-based infrastructure investment company. It owns airports, electricity generators and retailers, and a public transport business, with operations in New Zealand and Australia. Infratil was founded by the late Lloyd Morrison, a Wellington-based merchant banker. Morrison's company, H. R. L. Morrison & Co, is responsible for Infratil's management and administration.
NZX is at its core a markets business operating equity, debt, derivatives and energy markets. To support the development of its core markets, they provide trading, clearing, settlement, depository and data services. To ensure they are well connected to New Zealand investors, NZX owns Smartshares, New Zealand's only issuer of Exchange Traded Funds, and KiwiSaver provider Superlife.
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Morrison & Co also managed Infratil Australia Limited from its founding in 1994 until 31 July 2000 when the fund was subject to a takeover by the Australian Infrastructure Fund.Prior to the takeover, Infratil Australia Limited owned stakes in Perth Airport, Darwin International Airport, Alice Springs Airport Territories Airports, Southern Hydro, and Port of Portland in Australia (Portland, Victoria).
Perth Airport is a domestic and international airport serving Perth, the capital and largest city of Western Australia. It is the fourth busiest airport in Australia measured by passenger movements and falls within the boundaries of the City of Belmont, City of Kalamunda and the City of Swan. Perth Airport and Jandakot Airport, the other civilian airport within the Perth metropolitan area, recorded a combined total of 362,782 aircraft movements in 2017. If these two metropolitan airports were to be combined into a single airport it would be the busiest airport in Australia measured by aircraft movements.
Darwin International Airport is the busiest airport serving the Northern Territory and the tenth busiest airport in Australia. It is the only airport serving Darwin.
Alice Springs Airport is an Australian regional airport 7 nautical miles south of Alice Springs, Northern Territory. The airport was notably involved in Australia's first domestic airline hijacking, and later a suicide attack by a former airline employee which claimed the lives of four others.
Morrison & Co was appointed to manage a global infrastructure mandate by the New Zealand Superannuation Fund in March 2006.
The New Zealand Superannuation Fund is a sovereign wealth fund in New Zealand. New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ageing population. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds.
In 2009, Morrison & Co launched of the Public Infrastructure Partnership Fund (PIP Fund), New Zealand's first fund dedicated to investing in PPPs. The New Zealand Superannuation Fund is the cornerstone investor in the PIP Fund and Morrison & Co secured capital commitments from a number of New Zealand-based community trusts and institutional investors. The PIP Fund has investment capacity to deliver around NZ$1 billion of social infrastructure under PPP structures. The New Zealand Social Infrastructure Fund was established in 2010 to enable private investors to participate in the PIP Fund.
On 10 December 2015 Morrison & Co announced first financial close of PIP II a follow on Fund to the original PIP again focused on investing in NZ PPP's. The first PIP fund is fully invested in Hobsonville Point Primary and Secondary Schools, Melbourne Convention Centre PPP, Bendigo Hospital key health worker accommodation, University of Wollongong Student Accommodation, NZ Schools II PPP (four schools in Auckland, Canterbury and Queenstown)and Auckland Prison PPP.
In November 2008, Morrison & Co acquired a 26% stake in Fisher Funds, a boutique New Zealand based retail funds manager. This holding is 4.45% according to 2016 NZ Companies Office filings.
In March 2008 Morrison & Co launched a campaign to set a common goal for New Zealand, called "A measurable goal".This effort was in part motivated by forecasts showing New Zealand's current economic growth trajectory would see its GDP per capita ranking among countries falling to 47th. In 1950 New Zealand was ranked in the top 10.
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.
Kiwibank Limited is a subsidiary of the state-owned enterprise New Zealand Post Limited, New Zealand Superannuation and the Accident Compensation Corporation. Kiwibank provides some of its banking services through its PostShops and more recently through financial services only branches as well. Kiwibank is owned by the New Zealand government, with New Zealand Post owning 51% and the Accident Compensation Corporation and New Zealand Superannuation Fund owning the other 49%. The company's Board of Directors was chaired by former New Zealand Prime Minister Jim Bolger from 2001–2010. The current Chairperson of the Board of Directors is Susan Macken.
Superannuation in Australia are the arrangements put in place by the Government of Australia to encourage people in Australia to accumulate funds to provide them with an income stream when they retire. Superannuation in Australia is partly compulsory, and is further encouraged by tax benefits. The government has set minimum standards for contributions by employees as well as for the management of superannuation funds. It is compulsory for employers to make superannuation contributions for their employees on top of the employees' wages and salaries. The employer contribution rate has been 9.5% since 1 July 2014, and as of 2015, was planned to increase gradually from 2021 to 12% in 2025. People are also encouraged to supplement compulsory superannuation contributions with voluntary contributions, including diverting their wages or salary income into superannuation contributions under so-called salary sacrifice arrangements.
Oaktree Capital Management is an American global asset management firm specializing in alternative investment strategies. It is the largest distressed securities investor in the world, and one of the largest credit investors in the world. Oaktree emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities.
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The KiwiSaver scheme is a New Zealand savings scheme which came into operation from Monday, 2 July 2007. KiwiSaver fund are normally accessible only after the age of 65, but since 2015 funds can be used as a deposit for a first home
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An alternative investment or alternative investment fund (AIF) is an investment or fund that invests in asset classes other than stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, art, wine, antiques, coins, or stamps and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, carbon credits, venture capital, film production, financial derivatives, and cryptocurrencies. Investments in real estate, forestry and shipping are also often termed "alternative" despite the ancient use of such real assets to enhance and preserve wealth. In the last century, fancy color diamonds have emerged as an alternative investment class as well. Alternative investments are to be contrasted with traditional investments.
Australia Pacific Airports Corporation Limited (APAC) is an unlisted company and owner of two Australian airports: Melbourne Airport and Launceston Airport. Each airport is operated by an airport lessee company, in which APAC has a controlling interest: Australia Pacific Airports (Melbourne) Pty Ltd and Australia Pacific Airports (Launceston) Pty Ltd respectively.
Z Energy is a New Zealand fuel distributor with branded service stations. It comprises some of the former assets of Shell New Zealand and Chevron New Zealand. Since mid-August 2013, it has been listed on the NZX with the code ZEL. The largest shareholders were Infratil and the New Zealand Superannuation Fund, each with 20%. It is also listed on the ASX with the code ZNZ. Shell exited the New Zealand fuel distribution business in April 2010, selling its operations to Infratil and NZ Super. The former Shell operations were rebranded as Z Energy in 2011.
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