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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

New Zealand SWF pares equities bet after markets surge

Posted on 06 December 2013

New Zealand’s sovereign wealth fund is cutting equity holdings after this year’s surge in global stock markets left shares at the most expensive in four years. “Sometimes we are going to have huge opportunities and that’s when we use our risk,” Neil Williams, chief investment adviser at the New Zealand Superannuation Fund, said in an interview in Auckland Dec. 2.
“Other times, like now, equities have rallied and are close to fair value. Fixed income sold off and bond yields are getting closer to fair value. Then we leave it and we don’t have positions on.”……………………………………….Full Article: Source


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