Super fund shock for market
The investment policy for the multi-billion dollar New Zealand Superannuation Fund was prematurely revealed yesterday by a website slip-up.
Thursday, August 14th 2003, 6:36PM
by The Landlord
The fund is being set up to cope with a pension bulge as "babyboomers" - people born after World War II - become eligible for national superannuation.
The website document says 67 per cent of the fund will go into shares.
About $330 million would go into the New Zealand stock exchange in the first year.
A quick calculation - done in every brokerage in the country - showed the local market was getting 7.5 per cent against 59.5 per cent for overseas markets.
Read More - Opens in a new window
| « Building consents plummet | How to Benefit from the Cullen Fund » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
