NZ govt investment funds to dump Russian assets

NZ govt investment funds to dump Russian assets
NZ govt's major investment funds move against Russian govt and its state owned enterprise (Image: Getty)
Jacques Steenkamp
While the New Zealand government mulls over introducing new legislation to allow for harder sanctions against Russia for its invasion of Ukraine, four large state-owned NZ investment funds will be dumping their Russian assets "as market conditions permit".The NZ Super Fund (NZSF), Accident Compensation Corporation (ACC), Government Superannuation Fund (GSF) and National Provident Fund (NPF) said they would be excluding “sovereign debt and the securities of the majority of Russian state-owned enterprises from their respective fun...

More Markets

Spark share collapse leads NZ sharemarket down
Markets Market Close

Spark share collapse leads NZ sharemarket down

The S&P/NZX 50 Index closed down 0.99% or 127.78 points.

Tom Raynel 21 Feb 2025
Spark valuation plummets $1 billion as profit crashes
Markets

Spark valuation plummets $1 billion as profit crashes

Spark has reported a 78% fall in net profit to $35 million in the first half of its 2025 financial year and reduced its full-year operating earnings guidance. However, it has maintained its revised full-year dividend guidance.Shares – already down 42% over the past year after two...

Staff reporters 21 Feb 2025
Genesis weathers a tough winter
Markets

Genesis weathers a tough winter

Genesis took a $59m gas hit, but still made $70m profit.

Ian Llewellyn 21 Feb 2025
Sky TV takes a financial hit
Markets

Sky TV takes a financial hit

Sky Network Television reported a net loss after tax of $1.7 million in what it has been described as a “challenging” and “difficult” six months, with the broadcaster's attention focused on moving its customers to a new satellite because of the ailing Optus D2 satellite.The p...

Staff reporters 21 Feb 2025