| From Stuff.co.nz: The New Zealand Superannuation Fund made a paper loss of $844.9 million, or 4.8 percent, last month, when global markets got the jitters over Europe’s sovereign debt crisis.
The so-called Cullen Fund, which was set up by Labour Finance Minister Michael Cullen to partially fund pensions for an aging population, halted a three-month gain in a month when markets threatened to cause a 'double-dip' recession amid fears sovereign debt issues in Europe could trip up the global economic recovery...................................................Full Article: Source |