Andro Besich Comments
This year, our superannuation fund did not perform quite as well as we'd like. Although our investment portfolio is diverse, it did not successfully negate negative influences in the financial market. The return of 4.29% after tax is disappointingly low.
The New Zealand superannuation industry, with the introduction of the government KiwiSaver superannuation scheme, will go through considerable changes. It would be a major challenge for trustees to find acceptable solutions to integrate KiwiSaver into our superannuation fund, but I am sure it will be successfully resolved.
I would like to thank my fellow trustees for their efficient, hard work and would like to welcome AON, our new administration manager.
Trustee Andro Besich
