Wednesday 12th January 2011 |
Text too small? |
The New Zealand Superannuation Fund slipped 0.38% in November, saying the main factor in the decline was a significant fall in global fixed income markets.
For the financial year starting in July the return - after fees but before tax - was 12.12% at the end of November. Since the fund's inception in September 2003 the return on an annualised basis has been 6.85%.
The fund's value was $17.43 billion in November, a fall of $235 million from October.
The fund was set up by a Labour Party-led government to help fund the future cost of New Zealand superannuation by investing government contributions and returns on the contributions over the long term.
The current government has suspended payments to the fund for at least a decade to help reduce Crown debt.
NZPA
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes