Cullen’s two cents
Written By:
- Date published:
2:24 pm, June 3rd, 2009 - 8 comments
Categories: bill english, superannuation -
Tags: Cullen, english, super fund
Quite rightly, Michael Cullen has avoided getting involved in the debate over National’s starvation diet for the New Zealand Superannuation Fund, known as the Cullen Fund. As chairman of an SOE, he should keep out of partisan politics.
Still, he couldn’t resist sending a subtle message. In today’s Dom there is a letter to the editor from Cullen asking that, in light, of National’s cancellation of contributions to the Fund that reporters stop calling it the Cullen Fund and rename it the English Fund.
Cheeky 🙂
8 comments on “Cullen’s two cents ”
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The Government has done the right thing in moving to ban greyhound racing. ...2 weeks ago
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Damn for a second there I thought that was all the the Cullen Fund was worth.
/shock
$341M lost on Kiwi Rail value in a year, surely the fund can’t be under such similar stress levels.
http://www.nzsuperfund.co.nz/index.asp?pageID=2145855927
6.74% return last month. $800 million. Good time to be buying.
Maths not a strong point ?
$12,509.1 less $11,552.0 = $957.1m
$14,499.3 down to $12,509.1 = $1,990.2m still to claw back to to get to where it was 9 months ago.
Also if the reports are correct, NZSF have switched $3bn from Large Cap – International Equities to Small Cap ones ? Printing error or a big punt by the managers ?
Follow the link. I didn’t do any maths, the figures are the Super Fund’s. It’s a 6.74% gain in the month, not the year.
Easy … let’s economise and change one letter – From the Cullen Fund to the Culled Fund 🙂
The man responsible for ensuring that 65% of the net average wage to those over 65 is affordable is now Bill English.
And what a poor job he is doing – after just one budget people are saying its no longer affordable.
The English Fund.
That the one built up over generations of rape and pillage that’s just gone belly-up and got bailed?
He really been around that long?
Always thought politicians on the right had a particularly vampirish quality about them.
The English Fund. The Empty Cupboard. The English Pension. The sad reality is that Bill English’s background in economics is not a reality; it is theory and ideology. He was always going to get rid of the Cullen fund whatever the reality.
The English Fund. I like it. It will be the benchmark of the NACT’s party lack of direction and substance.