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Super fund should buy more forests

Tuesday 11th November 2008

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The Forest Industry Contractors Association (FICA) wants the NZ Superannuation Fund to buy the assets of Matariki Forests.

Matariki Forests owns the third largest forest estate in New Zealand made up of about 140,000 hectares of radiata pine forest. The NZ Super Fund already owns some forest assets.

FICA chief executive John Stulen says buying back New Zealand's forests make "good financial sense and excellent climate change sense now that emissions trading scheme is law."

"With National's pre-election promise to lift local investment by our KiwiSaver administrators and with many overseas superannuation fund managers so committed to having our forests in their portfolio - it is a no-brainer for the superannuation fund which belongs to our own people."

"Our industry needs Kiwi investors to make the most of the forest products export opportunities for our own people." This alignment of Kiwis making export decisions for other Kiwis in industry works really well in the farming sector - forestry can benefit more from having domestic investment for more win-win opportunities.

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