NZX externalises QuayStreet to enhance growth opportunities

NZX externalises QuayStreet to enhance growth opportunities

31 March 2026 – NZX Limited (NZX) and Smart are pleased to announce the investment management
externalisation of the QuayStreet Asset Management funds to a newly established, and independently owned
entity, QuayStreet Group.

The new structure allows QuayStreet to grow its customer base and for Smart and NZX to benefit from its future
success. The parties have entered into a long-term partnership that they believe benefits QuayStreet clients and
NZX shareholders.

QuayStreet Group will be run and operated independently of Smart by the existing QuayStreet investment team,
led by QuayStreet’s Head of International Equities, Stefan Stevanovic. Under this new structure, QuayStreet
Group will manage the brand and hold responsibility for investment management, marketing, and distribution.

Smart, an NZX Group subsidiary, remains the product owner of the QuayStreet funds and KiwiSaver schemes.
This will ensure continuity of robust investment governance and independent oversight. Smart will also maintain
and operate the infrastructure that supports the schemes.

NZX Chief Executive Mark Peterson says when Smart acquired QuayStreet Asset Management from Craigs
Investment Partners in 2023, the intention was to evolve the investment strategy from an active approach to an
enhanced passive or systematic style.

“Due to the ongoing impressive and award-winning performance of QuayStreet, and feedback from clients, NZX
decided in early 2025 to retain an active management style for the QuayStreet schemes. As a result, QuayStreet
has been an active manager within a passive house, Smart,” Mr Peterson says.

Smart Chief Executive Lisa Turnbull says all parties have been working on what is the most appropriate structure
for QuayStreet to maintain its active focus and realise its significant growth objectives.

“As a result, we are excited to announce an external investment management model has been mutually agreed
upon as the most appropriate vehicle to benefit the QuayStreet business and clients in the future”, Ms Turnbull
says.

Mr Stevanovic says to be entrusted with the stewardship and future growth of QuayStreet’s clients’ capital is a
privilege.

“This new structure essentially formalises QuayStreet’s deeply embedded, client-centric ethos and motivates the
team to perform at their very best. We are incredibly grateful for the ongoing support of our clients and the
broader NZX Group, and we look forward to continuing to deliver strong outcomes for our clients,” Mr Stevanovic
says.

Since NZX acquired the QuayStreet management rights, QuayStreet has outperformed expectations, delivering
strong client outcomes and winning industry awards. To support the group’s strategic direction, QuayStreet is
pleased to announce the appointment of Cameron Watson as Head of Strategy.

Mr. Watson joins with more than 30 years of wealth management expertise, including two decades at Craigs
Investment Partners where he led Private Wealth Research and chaired the investment committee. His
appointment reinforces QuayStreet’s commitment to deliver the highest standard of outcomes for clients under
this new independent structure.

ENDS

For further information, please contact:

NZX Media and Investors – Simon Beattie – 021 702 694

QuayStreet Media and Investors – Stefan Stevanovic – 021 026 56 121