Board Directors – PIF Guardians Limited

Strengthening the stewardship of New Plymouth's Perpetual Investment Fund

TheOpportunity

The New Plymouth Perpetual Investment Fund (PIF) plays a vital role in supporting the long-term prosperity of the district and its people. Established to sustain and grow the real capital value of its assets while providing a reliable return to the New Plymouth District Council (NPDC), the Fund is valued at approximately $420 million and invested across global equities, fixed income, private equity, cash, and alternative assets.

PIF Guardians Limited, a Council Controlled Organisation of NPDC, provides governance and oversight to ensure the Fund continues to deliver on its mandate — preserving the Fund's real value and contributing sustainable distributions to NPDC. To support succession planning and strengthen governance capability, NPDC is seeking to appoint two new Directors to the PIF Guardians Board. One of these appointments will offer a succession pathway to the Chair role in 2027, ensuring continuity of leadership and strategic direction.

Directors will bring curiosity, sound judgement, and a global perspective — contributing to the stewardship of a fund that must remain relevant and resilient in a changing investment environment. The candidates should have a thorough understanding of both investment and capital markets.

About the PIF Guardians Board

The PIF Guardians Board oversees the management of NPDC's investment fund in line with its Statement of Investment Policy and Objectives (SIPO) and Governance Deed. Mercer New Zealand Ltd acts as the Full Outsource Agent under an implemented consulting model.

Board Composition and Culture

The Board comprises four experienced Directors with strong expertise in investment, financial, and governance areas. It is a high-performing, collegial, and strategically focused board with a professional and constructive culture. These new appointments will enhance diversity of perspective, strengthen international market insight, and deepen capability in emerging governance disciplines such as ESG, climate disclosure, and responsible investment. These new Directors are to replace two directors whose terms are ending over the next 18 months.

Ideal Candidate Profile

We are seeking candidates who bring strong governance capability, commercial acumen, and an understanding of investment or capital markets. Directors will demonstrate sound judgement, strategic thinking, and the ability to contribute constructively to robust discussion and collective decision-making.

Desirable skills and attributes include:

• Proven experience in investment, capital markets, or portfolio oversight
• Strong financial and commercial literacy with governance experience at board or executive level
• Experience in governance Risk Management
• Commitment to inclusive governance and an appreciation of the principles of Te Tiriti o Waitangi
• Understanding of responsible investment and ESG principles, including climate disclosure considerations
• Strategic thinking with sound risk awareness and policy understanding
• Strong interpersonal and stakeholder engagement capability
• Commitment to collective performance, integrity, and high professional standards
• Appreciation of the importance of diversity of thought and experience in board decision-making

Why Join

These appointments provide an opportunity to shape the future of a significant local government investment fund — one that underpins New Plymouth's financial stability and supports the district's prosperity. This is governance with purpose: combining commercial expertise with the responsibility of safeguarding a ring-fenced fund established to serve the community over the long term.

The Board meets six to eight times per year in New Plymouth and reports to NPDC's Mayor and Councillors on a quarterly basis.

Remuneration: Directors are remunerated at an annual fee of $40,880, with reasonable travel expenses reimbursed.

How to Apply

Expressions of interest are invited from experienced directors and investment professionals across Aotearoa New Zealand. Applications will be managed by Trace Consulting on behalf of NPDC.

To request a copy of the Role and Responsibilities document, email Trace Consulting at

Submit your application via SEEK by attaching a copy of your resume and cover letter.

Applications close 30 November 2025