NZ Meat Board chases higher returns from $70M of funds now held in term deposits

Fri, 25 May 2018

By Jonathan Underhill May 25 (BusinessDesk) - The New Zealand Meat Board will increase the risk profile of its $70 million of reserve funds, adding shares to what is now mainly held in term deposits in a bid to lift returns. The shift to a balanced portfolio is aiming to achieve a return of at least 3.3 percent "after all investment, funds management and custodial costs, inflation and any tax drag" are deducted. It generated interest income of $2.3 million in 2017, a yield of 2.95 percent, according to its annual report. The board has...

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