Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fund Announces Further Timber Investments

New Zealand Superannuation Fund Announces Further Timber Investments

Auckland (2 November 2005) The New Zealand Superannuation Fund (NZSF) announced today that it has made three additional timber investments. These comprise:

- Timber management rights to the Tahorakuri property near Wairakei in the Central North Island. This property is 14,500 acres of mature Radiata Pine;

- A timberland investment located in Washington State in the US North West. NZSF's interest comprises approximately 18,000 acres of Hemlock and Douglas Fir; and

- A timberland investment located in Texas in the US South. NZSF's interest comprises approximately 45,000 acres of Loblolly Pine.

All three properties will be managed by the Hancock Timber Resource Group (HTRG). These assets comprise part of approximately 930,000 acres of timberland or timber rights recently acquired by HTRG from Harvard Management Company, the investment manager for Harvard University.

In March 2005 NZSF announced that it was planning to allocate up to 5% of assets to timber by June 2007. The first investment in this sector was announced on 11 October 2005 with the purchase of six North Island timber estates formerly owned by Evergreen Forests Limited. With this transaction, the combined value of all timber investments now owned by the Fund is approximately NZ$300 million (4% of the Fund's assets), divided between New Zealand and the United States.

"The Fund is committed to holding a widely diversified portfolio of assets. As a long term investor, with no requirement for regular cash flows from investments, timber is an attractive asset class for the Fund," said Paul Costello, Chief Executive.

The value of the New Zealand Superannuation Fund as at 30 September 2005 was $7.6 billion.


© Scoop Media

Business Headlines | Sci-Tech Headlines


TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>