New Zealand Superannuation Fund
Country: New Zealand
Established: 2003
US$ Billion: $13.8
Origin: Non-commodity
Transparency Rating: 10
Summary:
Established under the New Zealand Superannuation and Retirement Income Act 2001, the New Zealand Superannuation Fund (Fund) was created to partially provide for the future cost of funding New Zealand Superannuation payments. Like many countries around the world, New Zealand has an aging population, with the number of retired people expected to double by 2050.
The Crown plans to allocate around $2 billion a year to the Fund over the next 20 years.
News and Updates
3/12/08
Chief investment officer, Paul Dyer fired after $860 million income drop
The investment chief for the Government's New Zealand Superannuation Fund has been made redundant less than a month after the fund revealed that the past seven months have been the worst in its four-year history. Now, the fund is being restructured and the position of chief investment officer Paul Dyer is being eliminated. Mr Dyer had been with the Super Fund since 2004, when he left his position as chief investment officer at AMP Capital Investments.
read more: The New Zealand Herald
3/6/08
Superannuation fund's ROA forecast down by $1.5b
The treasury this morning revealed that the Crown's operating balance for the seven month period to January 31 was a deficit of $394 million -as much as $4.2 billion away from the forecast surplus of $3.8 billion. The super fund's returns on its assets, which include international shares, were $1.5 billion lower than forecast over the seven month period, ACC's were $700 million short and the Earthquake Commission's were $300 million below.
read more: The New Zealand Herald
2/21/08
Kiwi diplomats urge fund to remove investments in weapons
Disarmament and Arms Control Minister Phil Goff urged the New Zealand Superannuation fund to pull investments from companies making cluster bombs if efforts to ban the devices were successful. The investments involving cluster bombs currently reside in America and Europe.
Location
Level 17
AMP Centre
29 Customs Street West
Auckland
New Zealand
Website
New Zealand
1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
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