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Give It To The Super Fund’: Auckland’s $1.3b Future Fund Still Without A Manager
Concerns have been raised that a manager has yet to be appointed to manage Auckland Council’s $1.3b Future Fund following the sale of Auckland Airport Shares.
Auckland Ratepayers’ Alliance spokesman, Sam Warren, said:
“The Future Fund should be given to the NZ Super Fund to be invested – it doesn't need it's own manager."
“Australia’s special funds are handled like this, and it works well. So why try reinvent the wheel here? Auckland Council always make things more complicated than they have to be.”
“Eight months on and they still haven’t found a manager, leaving serious money on the table that otherwise could be used to pay down debt and get rates increases down. Let’s treat this with some urgency and make the right decision.”
Notes:
The Auckland Ratepayers' Alliance is a not-for-profit community group dedicated to championing prudent fiscal management of our Super City. Membership is free and open to all Aucklanders who sign up at www.ratepayers.nz.
The Ratepayers’ Alliance has spokespeople available for comment on ratepayer and Super City issues.
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