DAVID CHAPLIN: Why NZ Super Fund is under fire (and who’s responsible)

Wed, 17 Jun 2020

How many global problems can the $45 billion New Zealand Superannuation Fund solve?Never enough is the answer.Established in 2001 by then Finance Minister Michael Cullen, the Super Fund was handed the simple task of investing some tax dollars to partially defray future costs of the universal pension system.The idea was (is) that a professionally managed fund would deliver long-term net returns above the cost of government borrowing, taking the edge off a known big-ticket fiscal item for coming generations of New Zealanders.Some people think the...

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