ACC lauds investment team

ACC’s investments have beaten the benchmark for the 21st year in a row.

It released its financial statements for the 2016 year, which show a deficit.

But there was a 10.22% return on its investments. Investment income grew to $3.3 billion, $1.6b higher than budgeted. Net investment assets reached $34.8b.

Its investment return was 0.55% above the benchmark. It had a global equities return of -5.6% against a benchmark -8%. New Zealand equities returned 21%, above the 20.9% benchmark.  New Zealand inflation-linked bonds returned 9.8%, compared to a 9% benchmark.