The Guardians of the New Zealand Superannuation Fund say they will follow a directive from Minister of Finance Bill English to actively seek out eligible domestic investments but say they are unable to offer any assurances on how far – if at all – the Fund’s local asset base may increase.
The Fund is also likely to establish in-house expertise to assess some opportunities because of the lack of depth in the local investment management market.
Although upping their investments in New Zealand carries the risk of potentially putting too many eggs in one basket, the current economic climate could produce higher returns to compensate for this concentration risk, the Guardians said.
Their response to Mr English is available on their site.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Housing stats show just about everything's getting worse
- Sri Lanka: PM's visit signals it's open for business
- Super Fund suspected window dressing at Milford
- Sir Bob Jones: Why the newspaper industry is deservedly dying
- Adobe, Microsoft, Google signal price rises from Oct 1 as GST net thrown wider (thanks, Spark)
Most listened to
- Week in Review: a wrap of NBR Radio's top stories, interviews and analysis
- Matthew Hooton: Little leaves centre wide open for Peters and Greens
- ASB's Kim Mundy and Realestate.co.nz's Vanessa Taylor on the latest housing statistics
- Rob Hosking: Winston’s hour is coming
- Hunter's Corner: High stakes for both sides of Warminger case