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NZ Superannuation Fund result welcomed
2 August 2005
NZ Superannuation Fund result welcomed
Finance Minister Michael Cullen today congratulated the Board of Guardians and managers of the New Zealand Superannuation Fund on the excellent result achieved in the 2004-05 year.
The Fund generated a little over $726 million in investment income after costs but before tax, representing a return of 14.13 per cent.
“The Fund continues to track ahead of its performance target. This is a credit to those involved and good news for all New Zealanders.
“The Labour-led government set up the Fund to safeguard the long term viability of New Zealand Superannuation. I am delighted at the striking success it has achieved in its first years of operation,” Dr Cullen said.
ENDS
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