The New Zealand Superannnuation Fund is looking at investing more money in New Zealand and is looking strongly at two potential investments in particular.
The fund, which is designed to part-fund New Zealand's future superannuation costs, released its an
The New Zealand Superannnuation Fund is looking at investing more money in New Zealand and is looking strongly at two potential investments in particular.
The fund, which is designed to part-fund New Zealand’s future superannuation costs, released its annual report today, which revealed it is looking at investments under its “NZ Direct” strategy.
Potential investment targets include collective, co-operative and Crown-owned assets.
“We have had a number of discussions regarding potential investments and have progressed two of these to further due diligence during the final quarter of financial year 2010,” the report said.
During the financial year the fund made a $210 million investment in the downstream New Zealand assets of Shell in a 50:50 partnership with Infratil.
As at June 30 the fund held nearly $2.7 billion of investments in New Zealand, about 17% of the total fund value.
For the year to June it achieved a return of 15.45%, growing the fund to $15.6 billion.
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