The partial sale of a number of Government owned commercial assets would be a better way for the Crown to raise new funds instead of directing the New Zealand Superannuation Fund to invest a higher percentage of its money in the domestic economy.

As at June 30 the New Zealand Government had total assets of $200.8 billion of which $14.8 billion was represented by the Super Fund. Thus only $12 billion or 6% of the total Crown’s assets were held offshore because most of the non-Super Fund investments are in the New Zealand.

The Super Fund was established to help partly fund the country’s escalating national superannuation bill. It also gives the Government the opportunity to diversify its asset base, particularly from a geographical point of view.

In addition offshore investments generate overseas earnings. These have a positive impact on the country’s bourgeoning balance of payments or current account deficit.

The preferred