Govt savings bodies close to saturation point with NZX shares

Fri, 18 Jan 2013

Jan.18 (BusinessDesk) – Government pension and savings funds collectively own more than 5 percent of 47 companies listed on the NZX and more than 10 percent of 17 companies. The analysis of combined market power of Accident Compensation Compensation, New Zealand Super Fund, Government Superfund and National Provident Fund is disclosed in an annual portfolio report by Treasury’s Crown Ownership Monitoring unit. The level was not excessive but there was limited scope for more investment, given the size of the NZX, the report said. “This means...

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