tag:blogger.com,1999:blog-2830084253401570472.post6225716923213535082..comments2024-03-18T15:42:43.140+13:00Comments on Offsetting Behaviour: Correlated risksEric Cramptonhttp://www.blogger.com/profile/15831696523324469713noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2830084253401570472.post-86840649354738516762010-09-13T13:55:06.610+12:002010-09-13T13:55:06.610+12:00Ten years ago would be about right; the change all...Ten years ago would be about right; the change allowing such investment was in 2001.Eric Cramptonhttps://www.blogger.com/profile/15831696523324469713noreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-85384331612164132202010-09-13T13:53:04.598+12:002010-09-13T13:53:04.598+12:00I seem to remember a Listener article about 10 yea...I seem to remember a Listener article about 10 years ago commenting on the fact that the government was effectively taking the funds from the EQC and handing over government debt in return (that's my hazy recollection of the article anyway) - at the time the comment was that this didn't seem very clever for the reasons you've mentioned...hopefully we'll see an improvement in the balance of the portfolio post-Christchurch.Duncannoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-90162431993273258872010-09-13T08:03:16.972+12:002010-09-13T08:03:16.972+12:00I'd go a step further and ponder whether the r...I'd go a step further and ponder whether the revelation that comes out now (that 70% of the EQC fund is invested in the NZ Govt), is not in fact something of a scam (for want of not being too blunt). One could argue that the compulsory payments into that fund have in fact been a tax on insurance and that paying out on the "insurance" provided by that tax is in fact deferred to our children and grandchildren, as is the case with just about any government "investment" or social service.Anonymousnoreply@blogger.com