NZ Superannuation Fund returned 3% in February

The New Zealand Superannuation Fund posted a 3 percent return last month, benefiting from a rally in global equity markets. Returns for February totalled $550 million before tax of $30m.

The New Zealand Superannuation Fund posted a 3 percent return last month, benefiting from a rally in global equity markets.

Returns for February totalled $550 million before tax of $30m.

The fund, in which the Government has suspended automatic contributions to avoid further increasing debt, has returned 22.5 percent for the financial year since July.

That compares with a return of 15.5 percent last financial year. Returns were after fees, but before tax.

Created in 2003 to part-fund New Zealand's future superannuation costs, the fund has grown to just under $19 billion.

Global equities dominated the fund's holdings, at 62.6 percent, followed by international fixed income (11.2 percent) and infrastructure investments (8 percent).

The fund's largest investment in New Zealand equities was a $291m stake in Auckland International Airport, representing 1.5 percent of fund value.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6969 0.0008 0.11%
AUD 0.9181 0.0059 0.65%
EUR 0.6098 -0.0032 -0.52%
GBP 0.4775 0.0009 0.19%
HKD 5.4075 0.0074 0.14%
JPY 74.3370 -0.8700 -1.16%

Commods

Commodity Price Change Time
Gold Index 1265.8 20.240 2016-04-28T00:
Oil Brent 47.8 1.400 2016-04-28T00:
Oil Nymex 46.0 0.830 2016-04-28T00:
Silver Index 17.6 0.260 2016-04-28T00:

Indices

Symbol Open High Last %
NZX 50 6790.0 6822.1 6790.0 0.45%
NASDAQ 4805.8 4807.9 4805.3 -0.98%
DAX 10235.5 10252.1 10321.1 -2.73%
DJI 17813.1 17813.1 17830.8 -0.71%
FTSE 6322.4 6322.4 6322.4 -1.27%
HKSE 21215.2 21235.4 21388.0 -1.50%
NI225 17439.0 17572.3 17290.5 -3.61%