Monday, March 16, 2015

The Dunedin City Council's investment fund is doing particularly well, thanks to favourable exchange rates and returns on equity.

The Waipori Fund's net operating result was just over $4.5m for the first six months of the financial year.

That's about $3m more than budgeted.

A large chunk has come from exchange rate gains, through investments held in foreign currency.

And more than $2m has been gained through equities.

The council also had a relatively large operating surplus in the last half of 2014.

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