EQC To Spread Portfolio Risk
Thursday, 1 November 2001, 11:13 am
Press Release: New Zealand Government
Finance Minister Michael Cullen today allowed the Earthquake
Commission to diversify its $4 billion Natural Disaster Fund
to include up to 35 percent in global equities.
“It makes
sense for the EQC to hold assets off shore,” Dr Cullen
said.
“In the event of a major earthquake, these
investments would provide an important buffer as they would
hold their value and could be sold quickly.”
The remainder
of the Fund would continue to be held in New Zealand in
government stock and cash.
"EQC will be required to
invest the Fund on a prudent, commercial
basis,
consistent with best practice portfolio
management.
“It will be required to maximise the return
on its investment without undue risk to the Fund as a whole
and without endangering New Zealand's reputation
as a
responsible member of the world community.
"The Commission
will now work with its advisors to construct a
suitable
portfolio and appoint global equity managers,"
Dr Cullen said.
Ends
© Scoop Media
Join Scoop Citizen
Scoop is a champion of independent journalism and open publishing - informing New Zealanders through straight-talking independent journalism, and publishing news from a wide range of sectors. Join us and support the publication of trustworthy, relevant, public interest news, freely accessible to all New Zealanders:
Become a member
Find out more
Now that the right of US women to abortion (formerly protected by Roe v Wade) has been abolished, the important role of medication-induced abortion will come even more to the fore. Already, research by the Guttmacher Institute reproductive rights centre shows that over half of US abortions are obtained by medication. According to the US Food and Drug Administration and the World Health Organisation, the abortion pills can be safely self-administered at home within the first ten weeks of pregnancy, rather than via a surgical procedure carried out in a bricks-and-mortar abortion clinic...
More>>