The chief executive in charge of managing the $60 billion New Zealand Superannuation fund has resigned.

Matt Whineray’s departure was announced this morning.

He joined the Guardians of New Zealand Superannuation 15 years ago but will leave at the end of the year.

“His legacy will be his commitment to high performance, his commitment to our people and his commitment to sustainable investment,” said Catherine Drayton, Chair of the Guardians.

“He will be sorely missed,”

She said Whineray, chief executive for the past five years, presided over significant growth in the NZ Super Fund, well in excess of investment performance benchmarks.

“Earlier this week the Fund was recognised by Global SWF (sovereign wealth funds) as the best-performing sovereign investor globally, over the last 10 years,” Drayton added.

The Super Fund said it was expected to double in size to more than $120 billion in the next decade.

The board said Whineray would be finishing before Christmas, then take some time out to consider his next steps.

“The board appreciates Matt’s preparedness to stay through to Christmas as we search for his replacement.”

The Board said it would begin the process to find that replacement shortly.