Super Fund buoyed by global equities
Thursday, September 28th 2017, 11:25AM
The NZ Super Fund has reported a 20.7% (after costs, before NZ tax) return for the 12 months to June 30, one of its best annual results.
It finished the year at $35 billion, up $5 billion on the year before.
Chair Catherine Savage said: “The fund is generating world-class returns and creating significant wealth for New Zealanders on a sustained basis. It should not, however, be measured on its short-term returns. We are here to create long-term value for New Zealand taxpayers. "
She said the fund had returned 10.2% per year, more than twice the Government's cost of contributions, over 14 years. That was based on the returns of Treasury bills.
The 20.7% annual result reflects a sustained rally in global equity markets.
Savage said the fund’s active investment strategies had performed strongly during the year, adding value of 4.4% ($1.3 billion) over the fund’s passive benchmark.
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