Page 5 Advertisements Column 1

Press, 27 July 1988, Page 5

Advertisement News release The Trustees Executors and Agency Company, of New Zealand, Limited, has released its annual report on the .results of its Tasman Retirement Fund. The Tasman Fund grew strongly during the year to record a 36.7 per cent growth over the last year as at its March 31, 1988, balance date. The present fund value is $15.4 million. The Fund comprises both a lump sum plan and a pension plan, within which investors have a choice as to how their investments will be allocated as between a fixed interest pool and a sharemarket pool. The investment policy of the fund has been to maintain a high level of investment in Government stock and other fixed interest securities, with a low sharemarket exposure. Currently, 77 per cent of the fund is comprised of Government stock, 20.7 per cent invested in other interest bearing securities, with the balance invested in a spread of equity investments. The policy of maintaining a high level of secure investments in the fund has resulted in minimal losses to investors with a sharemarket component in their portfolio. In the lump sum plan, the return on the fixed interest pool for class A funds (tax free) was 27.61 per cent and for class B funds (tax paid) was 17.38 per cent. The Tasman Pension Plan fixed interest pool returned 16.64 per cent tax free. Although the Government has now signalled its intention to tax the income of all superannuation funds, the Tasman Retirement Plans remain well positioned to provide investors with a competitive investment return.