wingrider
31st October 2009, 07:27
From letters to the editor, Dom post this morning.
heading
ACC Position Misrepresented
Quote
Yore item, (ACC money down the drain(oct21st) significantly misrepresents ACC's investment performance for the past year. In fact ACC's investment portfolio made a return of 3.2 percent for the year.
Few diversified funds could claim such a result, and ACC's investment team is widly acknowledged as being among the best in the country.
The article pointed out that one area, Australia and new Zealand properties fell by 21%.
Thats right but it accounts for only 0.01% of our total portfolio's so is hardly material.
The dominion Post also failed to note that New Zealand Bonds. which account for almost 50% of the portfolio, grew by 13.4%.
This was shoddy reporting
Signed
Jan White
Chief Executive ACC
End of quote.
How does Nick Smith claim that ACC is in the shit when the CEO PUBLICLY declares otherwise??
heading
ACC Position Misrepresented
Quote
Yore item, (ACC money down the drain(oct21st) significantly misrepresents ACC's investment performance for the past year. In fact ACC's investment portfolio made a return of 3.2 percent for the year.
Few diversified funds could claim such a result, and ACC's investment team is widly acknowledged as being among the best in the country.
The article pointed out that one area, Australia and new Zealand properties fell by 21%.
Thats right but it accounts for only 0.01% of our total portfolio's so is hardly material.
The dominion Post also failed to note that New Zealand Bonds. which account for almost 50% of the portfolio, grew by 13.4%.
This was shoddy reporting
Signed
Jan White
Chief Executive ACC
End of quote.
How does Nick Smith claim that ACC is in the shit when the CEO PUBLICLY declares otherwise??