[11 July/Stuff]

The NZ Super Fund has around $2.5 billion invested in New Zealand primary industries, and wanted to add more of the sector to its portfolio. Its latest investment was in New Zealand Gourmet, taking a 27 percent stake in the company. Only 6.4 percent of its total global investment is in local agribusinesses, however these made up half of its total investment in New Zealand. Head of New Zealand Direct Investment, Will Goodwin, said while many Kiwi agribusinesses wouldn’t offer the same returns as more speculative ones, they returned a mid to high single digit figure. Different agribusiness investments offered different returns. It had a 42 percent stake in Kaingaroa Timberlands, and has a portfolio of 22 dairy farms. The fund supported the Government’s one billion tree project but did not have additional land for tree planting. Mr Goodwin emphasised the fund’s main objective was to maximise returns and not to fulfil the Government’s objectives.