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Harbour partners with global asset manager T. Rowe Price & appoints Kendal Law as Director of Sales

NEWS RELEASE: 23 February 2015

Harbour Asset Management (Harbour) today announced that it has partnered with Baltimore-based global asset manager T. Rowe Price to bring a wholesale global equity Portfolio Investment Entity (PIE) Fund to the New Zealand market.

Harbour’s Managing Director Andrew Bascand said, “In searching for an appropriate global equity manager to partner with, we sought a manager with a strong track-record, high quality people, a research edge and a philosophical alignment with Harbour.”

Established in 1937, T. Rowe Price is a well-respected specialist investment management firm that manages US$746.8 billion1. in assets (as of December 31, 2014).  T. Rowe Price has investment offices in Baltimore, Hong Kong, London, Singapore, Sydney and Tokyo in fitting with its strong globally focussed research culture.

The T. Rowe Price Global Equity Growth Fund (the Fund) aims to out-outperform its MSCI All Country World Index benchmark over the medium to long-term.  The Fund is a growth oriented portfolio consisting of around 130 stocks, with a natural bias towards emerging market stocks, where typically around 15% of the portfolio will be held.

Given its diversification and risk parameters Harbour would envisage this Fund being a core component of investors’ global equity allocations.  

Jody Kaye, Harbour’s Chief Operating Officer & Head of Client Servicing said, “To support the launch of the Fund, we have appointed Kendal Law as Director, Head of Sales at Harbour. Kendal will be focusing on providing investment and marketing support for the Fund with consultants, trustees and wholesale investors in NZ.”

Kendal has over 17 years’ experience with global investment banks providing equity analyst, research sales and account management expertise. Kendal will work with Jody Kaye in Harbour’s Auckland office.

Prior to joining Harbour, Kendal was with Credit Suisse Securities for 12 years based both in London and Hong Kong, as a Director in Research Sales with a focus on Institutional equity clients. In this role Kendal was responsible for both Global and Asia Pacific equity clients.

Prior to Credit Suisse, Kendal worked at ING Barings in London as a Director in Institutional Equity sales, and previously had been an equity analyst based in Hong Kong, covering the Real Estate sector for BZW Securities, having qualified as a Chartered Surveyor with Jones Lang Wooton in London.


  1. The combined assets under management of the T. Rowe Price group of companies as at 31 December 2014. The T.Rowe Price group of companies includes T. Rowe Price Associates, Inc., T. Rowe Price International Ltd, T. Rowe Price Hong Kong Limited, T. Rowe Price Singapore Private Ltd., and T. Rowe Price (Canada), Inc.


About Harbour

Harbour is a New Zealand-based asset manager with extensive professional investment experience managing funds for large government institutions, corporate superannuation funds, multi-nationals, charities and mezzanine platform providers (such as KiwiSaver funds).

Established in January 2010 with capital and infrastructure provided by First NZ Capital, the Harbour team previously worked together for up to 10 years as the NZ Equity team at a large global investment manager. With the launch of Harbour, the Harbour Australasian Equity Fund was formed and funded in April 2010. In January 2012, the team launched the Harbour Australasian Equity Income Fund.

In January 2011, Harbour established a New Zealand Fixed Interest team and took over the management of the Harbour NZ Corporate Bond Fund. In May 2011, Harbour launched the Harbour NZ Core Fixed Interest Fund. In April 2012, the team launched the Harbour NZ Short Duration Fund.

The Harbour team comprises Blaine Abraham, Andrew Bascand, Kevin Bennett, Mark Brown, Anne-Marie Carian, Susanna Lee, Christian Hawkesby, Jody Kaye, Simon Pannett, Oyvinn Rimer, Shane Solly, Craig Stent and Toni Wood. The Directors of Harbour are Graeme Wong (independent chairman), Wayne Stechman (independent director and head of audit committee), Bill Trotter, Andrew Bascand and Richard Bodman.

Harbour partners with global asset manager T. Rowe Price & appoints Kendal Law as Director of Sales

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