The New Zealand Superannuation Fund intends to continue investing in international markets despite their volatility.
The fund has announced an annual loss $716 million, prompting the Green Party and Council of Trade Unions to call for investment in local infrastructure in preference to overseas shares.
However, the chief executive of the Guardians of the fund says the fund is a long-term investor and can accommodate the risk of investing in shares.
Minister of Finance Michael Cullen says the fund is in a good long term position.
He told Morning Report it makes sense in general terms for the the fund to have a broad spectrum of investments.
Dr Cullen says international models all have highly diversified investments.
