Salt Funds Management

What Salt Funds Management does

Salt Funds Management is an Auckland-based boutique active investment manager founded in 2008, offering twelve distinct funds across New Zealand and global equities, global fixed income, listed property, listed infrastructure, and alternatives, plus KiwiSaver access through selected platforms. The investment process is built on proprietary fundamental research, style-agnostic stock selection, and an explicit ESG integration framework that combines business-model sustainability analysis with direct engagement of company directors and executives; Salt retains investment decision authority on NZ-focused mandates while sub-delegating global equities and global fixed income to Morgan Stanley Investment Management and listed real assets to Cohen & Steers.

The firm generates revenue primarily through recurring management fees on assets under management, with disclosed fees of 0.45% p.a. on the Sustainable Global Fixed Income Opportunities Fund. Distribution is hybrid: direct-to-consumer via an online application portal with minimums of NZD $5,000 initial, $1,000 top-up, and NZD $100 monthly; wholesale via dedicated client partnerships (NZD $750,000 minimum for Global Fixed Income); and indirect through three KiwiSaver schemes (Goals Getter, Kiwi Wrap, Invest Now). Customer segments span retail investors, wholesale clients, KiwiSaver members, iwi, charities, foundations, and superannuation funds, served from a single Auckland head office at Level 37, PwC Tower.

On 31 August 2025, Alvarium (NZ) Wealth Management Holdings Ltd completed the acquisition of 100% of Salt Funds Management for an undisclosed sum, lifting Alvarium's total assets under advice to more than NZD $4.3 billion; Salt's investment personnel retained equity co-ownership in Alvarium, ensuring continuity of the investment process. Salt's most distinctive product is the Carbon Fund (NZX: CO2), New Zealand's first listed carbon fund, and the firm holds PRI signatory status, TCFD endorsement, and 2023/2024 industry recognition including Research IP FMOY Boutique and Alternatives awards and RIAA Responsible Investment Leader 2024.

Name

Salt Funds Management

Legal name

Salt Investment Funds Limited

Website

https://saltfunds.co.nz

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Salt Funds Management is an Auckland-based boutique active fund manager offering twelve ESG-integrated investment funds across NZ and global equities, fixed income, property, and infrastructure, serving retail, wholesale, KiwiSaver, iwi, and institutional clients. Acquired by Alvarium in August 2025.

Ownership category

akta.pro rank

Product category

Active Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industries

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA), Values-Based/ESG & Impact-Focused RIAs (FSAAACAK)

Keywords

• Active fund management
• ESG investment funds
• KiwiSaver schemes
• Portfolio management
• Wealth management

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees: Salt generates revenue through management fees charged on assets under management across their suite of investment funds. Fee structures include annual management fees (e.g., 0.45% for Global Fixed Income Fund) based on fund assets under management.
2. Performance-based Returns: Funds such as the Long Short Fund aim to outperform benchmarks (RBNZ Official Cash Rate +5% p.a.) creating value for investors and building AUM through performance track records.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Salt Funds Management is a boutique, Auckland-based active investment manager that offers a diversified suite of ESG-integrated investment funds across NZ shares, global shares, fixed income, listed property, listed infrastructure, and a NZX-listed Carbon Fund. The firm conducts proprietary fundamental research and partners with world-class global managers (Morgan Stanley Investment Management, Cohen & Steers) to deliver style-agnostic, risk-adjusted returns to retail, wholesale, KiwiSaver, and institutional investors.

Product overview

Salt Funds Management is an active investment manager offering a diversified suite of fund products across multiple asset classes and geographies. The portfolio comprises 12 distinct fund offerings: five NZ-focused funds (Long Short Fund, NZ Dividend Appreciation Fund, Core NZ Shares Fund, Enhanced Property Fund, Income Fund), three global funds (Select Global Shares Fund, Select Global Fixed Income Fund, Global Listed Infrastructure Fund, Global Listed Property Fund), two growth-oriented funds (Capital Growth Fund, Carbon Fund), and KiwiSaver access. The funds utilize external specialist managers (Morgan Stanley Investment Management for global equities and fixed income; Cohen & Steers for infrastructure and global property) while Salt maintains proprietary investment decisions and ESG integration across the platform.

Differentiator

Problem solved

Functional benefit

Brands

• Carbon Fund: New Zealand's first-ever Carbon Fund listed on the NZX under ticker code CO2. Managed by Salt Investment Funds Limited, a wholly-owned subsidiary.

Products and services

• Salt Long Short Fund A fund seeking to provide equity-like returns over long timeframes with far less volatility than equities and no correlation to NZ and Australian equity markets, targeting the RBNZ Official Cash Rate +5% p.a. benchmark.
• Salt NZ Dividend Appreciation Fund Fund targeting shares of NZ companies paying high and sustainable dividends, with the investment objective to outperform the S&P/NZX 50 Gross Index on a rolling three-year basis.
• Salt Core NZ Shares Fund Fund investing predominantly in NZ shares with opportunistic Australian shares exposure, seeking to outperform the S&P/NZX 50 Gross Index on a rolling three-year basis.
• Salt Enhanced Property Fund Fund investing in NZ and Australian property and property-related shares, with the objective to outperform the S&P/NZX All Real Estate (Industry Group) Gross Index on a rolling three-year basis.
• Salt Select Global Shares Fund Concentrated global equity strategy investing in 25-50 high-quality companies at reasonable valuations, managed by Morgan Stanley Investment Management, with the objective to outperform the MSCI World (Net) Index in NZ dollars on a rolling three-year basis. Constructed as a reduced carbon intensity portfolio.
• Salt Select Global Fixed Income Fund (Salt Sustainable Global Fixed Income Opportunities Fund) Fund combining a comprehensive sustainability approach with active flexible investing in global fixed income, fully hedged to NZ dollar, managed by Morgan Stanley Investment Management. Targets an attractive return over a three-to-five-year market cycle; minimum 15% allocation to green bonds with ESG risk screens; 0.45% annual management fee. Exclusively available to wholesale investors with a $750,000 initial investment minimum.
• Salt Global Listed Infrastructure Fund Fund providing diversified liquid investments in global infrastructure, managed by Cohen & Steers, with the objective to exceed the total return of the FTSE Global Core Infrastructure 50/50 Index hedged in NZ dollars on a rolling three-year basis.
• Salt Global Listed Property Fund Fund applying a research-intensive approach to value global real estate securities, managed by Cohen & Steers, with the objective to exceed the total return of the FTSE EPRA/NAREIT Developed Real Estate Index hedged in NZ dollars on a rolling three-year basis.
• Salt Capital Growth Fund Fund investing in a diversified mix of growth and defensive assets with a focus on securities with strong ESG credentials. Benchmark is the RBNZ Consumer Price Index +5% p.a. on a rolling five-year basis.
• Salt Income Fund Fund providing gross fixed quarterly income in excess of bank deposit rates along with a positive return on capital, investing in a diversified mix of growth and defensive assets with an ESG focus and reliable income generation.
• Carbon Fund New Zealand's first-ever Carbon Fund, listed on the NZX under ticker code CO2. Open-ended fund accepting applications, managed by Salt Investment Funds Limited (a wholly-owned subsidiary), with a carbon footprint less than 10% of the average MSCI World Index company.
• Salt KiwiSaver Scheme Options Access to Salt's fund suite through selected KiwiSaver scheme platforms — Goals Getter, Kiwi Wrap, and Invest Now — providing New Zealand retirement savers with ethical and sustainable KiwiSaver investment options.

Quantifiable outcome

• Salt Long Short Fund achieved 21.5% return, ranked best performing stock-picking firm for 2025
• +5 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• Morgan Stanley Investment ManagementcoreTechnology or IntegrationMorgan Stanley Investment Management (MSIM) manages the Salt Select Global Shares Fund and Salt Select Global Fixed Income Fund. MSIM manages US$1.28 trillion in assets under management (as of September 2022) with 1,306 investment professionals worldwide. MSIM provides industry-leading ESG integration methodology, global scale, and engagement capabilities with government and corporate issuers.
• Cohen & SteerscoreTechnology or IntegrationCohen & Steers manages the Salt Global Listed Infrastructure Fund and Salt Global Listed Property Fund. Founded in 1986 by Marty Cohen and Bob Steers, the firm is the largest manager of preferred securities and established a global research platform for real estate, infrastructure, and other listed real assets with US$85 billion in assets.
• Goals Getter KiwiSavercoreChannel Partner/ Reseller/ DistributorGoals Getter KiwiSaver scheme platform offers the Salt Sustainable Growth Fund to its members.
• Kiwi Wrap KiwiSavercoreChannel Partner/ Reseller/ DistributorKiwi Wrap KiwiSaver scheme platform distributes multiple Salt funds including Core NZ Shares, NZ Dividend Appreciation, Sustainable Global Shares, Global Listed Infrastructure, Global Listed Property, Enhanced Property, Sustainable Growth, and Sustainable Income.
• Invest Now KiwiSavercoreChannel Partner/ Reseller/ DistributorInvest Now KiwiSaver scheme platform distributes Salt Sustainable Growth, NZ Dividend Appreciation, and Enhanced Property funds.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Devon Funds Management: New Zealand boutique active equity manager offering KiwiSaver and wholesale funds. Comparable to Salt on boutique positioning, NZ market focus, and active management approach.
• Milford Asset Management: New Zealand boutique active investment manager offering KiwiSaver and wholesale funds with strong performance track records across NZ and global equities. Most direct comparable to Salt given similar boutique structure, KiwiSaver distribution, and active style focus in NZ.
• Harbour Asset Management: NZ-focused active investment manager offering NZ shares, fixed income, and alternatives. Comparable to Salt on boutique active-management model and broad NZ asset-class coverage.
• Mint Asset Management: Boutique NZ active equity manager focused on responsible investment with KiwiSaver and wholesale offerings. Closely comparable to Salt on boutique ESG-led positioning and product mix.
• Fisher Funds Management: NZ boutique fund manager providing KiwiSaver, managed funds, and investment advice with a long performance history. Comparable to Salt on product suite breadth, NZ distribution, and active long-only and long-short strategies.
• Jarden (Investment Management): NZ advisory and investment manager offering KiwiSaver, funds, and wealth services through a vertically integrated platform. Comparable to Salt on NZ-focused active funds and KiwiSaver presence.
• Pathfinder Asset Management: NZ responsible investment manager offering KiwiSaver and managed funds; now a sister company under Alvarium following the Salt acquisition. Most relevant comparator on shared ownership, ESG focus, and KiwiSaver distribution.

Regional players

• Booster Investment Management: NZ KiwiSaver and investment manager with multi-asset funds. Comparable to Salt as another NZ-based manager competing in KiwiSaver and active managed-fund channels, though larger by AUM.

Emerging players

• Kernel Wealth: NZ digital-first KiwiSaver and fund manager with low-cost offerings. Comparable to Salt as a KiwiSaver-distributed fund manager in NZ, though differentiated by passive/index emphasis.

Broad incumbents

• ANZ Investments: Largest KiwiSaver provider in NZ (ANZ group) with broad active and passive fund menus across multiple asset classes. Comparable to Salt as a KiwiSaver platform participant and NZ shares/fixed income manager at much greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/3166976

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Salt Funds Management