The NZ$29.6 billion (US$19.8 billion) New Zealand Superannuation Fund has ramped up its green credentials by handing Northern Trust a bond mandate that will comply with its environmental, social and governance guidelines.

The mandate will exclude bonds that do not comply with New Zealand's preferences, using the Barclays Global Aggregate index as a reference point. The sovereign wealth fund has already been using Northern Trust to manage four passive global equity mandates since 2013. The fund did not disclose the size of the mandate.