NZX outsources QuayStreet to unlock expansion

KUALA LUMPUR, 6 AUGUST 2026 —

NZX Ltd will spin off its QuayStreet Asset Management funds into an independently owned group, the exchange said on Tuesday.

The move externalises the active-equity boutique from Smart, an NZX subsidiary, into a newly formed QuayStreet Group that will run investment, marketing and distribution under the existing team led by Stefan Stevanovic, head of international equities. Smart retains ownership of the funds and KiwiSaver schemes, providing product governance and keeping the supporting infrastructure.

NZX chief executive Mark Peterson said Smart acquired QuayStreet from Craigs Investment Partners in 2023 intending to shift the strategy from active to passive or systematic. “However, its award-winning performance and client feedback led us in early 2025 to keep the active style,” he told reporters.

Smart chief executive Lisa Turnbull said the parties spent 2024 designing a structure that lets QuayStreet “maintain its active focus and realise significant growth objectives.” An external investment management model was chosen to best serve clients and shareholders.

Stevanovic, who will steward the new group, said the change “formalises our client-centric ethos and motivates the team to perform at their best.” The group also appointed Cameron Watson as head of strategy; he joins with three decades of wealth management experience, including two decades at Craigs Investment Partners.

Since NZX took management rights in 2023, QuayStreet has exceeded expectations, winning industry awards and delivering strong client returns. The new structure aims to broaden its customer base while keeping Smart’s governance oversight and operational support intact.