Labour Wipes Millions off the NZ Super Fund

Labour has wiped literally millions of dollars off of the NZ Superannuation Fund.
 
The NZ Superannuation Fund lists Telecom as a major holding valued at $61,707,733 as at 31 March 2006. At the close price ($5.54 ) on that day that would mean that the NZ Super Fund owned 11,138,579 shares in Telecom.
 
On the share price close ($5.55 ) on the 3 May 2006 those shares were valued at $61,819,118 meaning the governments actions have wiped $5,569,289 off of the value of the NZ Super Fund holdings, and the damage hasn't finished yet.
 
How much more damage can Labour do to our economy and the future of New Zealanders? I predict lots more.
 
 


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