ACC lauds investment team
Tuesday, October 4th 2016, 4:47PM
ACC’s investments have beaten the benchmark for the 21st year in a row.
It released its financial statements for the 2016 year, which show a deficit.
But there was a 10.22% return on its investments. Investment income grew to $3.3 billion, $1.6b higher than budgeted. Net investment assets reached $34.8b.
Its investment return was 0.55% above the benchmark. It had a global equities return of -5.6% against a benchmark -8%. New Zealand equities returned 21%, above the 20.9% benchmark. New Zealand inflation-linked bonds returned 9.8%, compared to a 9% benchmark.
“This is the 21st year in a row the Investment Team has exceeded the benchmark – a remarkable result. To put that in context, every $100 that ACC invested 24 years ago has grown to be worth $1,031 today, largely through a prudent investment strategy. ACC continues to invest to make sure Kiwis pay less for accident cover,” chair Dame Paula Rebstock said.
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