The NZ Super Fund said yesterday it was investing in a $300 million hotel portfolio established by the Russell Group & Lockwood Property Group, creating a platform for the fund to invest further in New Zealand’s tourism sector.
NZ Super Fund
The NZ Super Fund continued to perform above its benchmarks in the June 2018 financial year, finishing $4 billion up at $39 billion.
The Reserve Bank left the official cashrate unchanged at 1.75% yesterday, but this nudging along of economic policy doesn’t sit well with the man with the most influential say on future directions, NZ First leader Winston Peters.
The Guardians of NZ Superannuation, the Crown entity that manages the NZ Super Fund, has published a paper on its strategic tilting programme for investment.
Construction has started on Ngai Tahu’s innovative new residential development for Hobsonville Point that includes a number of long-term rentals.
The NZ Super Fund, Ngai Tahu Property Ltd & New Ground Capital Ltd have teamed up to invest in a $113 million project to develop 200 new homes – including long-term rentals – at Hobsonville Point by late 2018.