10.10.2016 - NZ Super Fund's investments in NZ drop despite ministerial directive
The New Zealand Superannuation Fund has reduced the portion of the fund invested in New Zealand to 14.79 percent of its value from 21.3 percent in 2009 despite a ministerial directive to eventually increase the allocation to 40 percent. The sovereign wealth fund’s annual report shows its exposure to New Zealand is 12.6 percent as at June 30, 2016, compared to 13.5 percent in 2015 and 13.8 percent the prior year. The figure rises to 14.79 percent when based on a proportional calculation of the value of its investments in the financial statements and including holdings in rural and forest land...........................................Full Article: Source
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