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.


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7095 -0.0024 -0.34%
AUD 0.9546 0.0012 0.13%
EUR 0.6383 -0.0015 -0.23%
GBP 0.5280 -0.0011 -0.21%
HKD 5.5055 -0.0176 -0.32%
JPY 72.8090 -0.4080 -0.56%

Commods

Commodity Price Change Time
Gold Index 1326.9 9.000 2016-06-29T00:
Oil Brent 51.3 2.060 2016-06-29T00:
Oil Nymex 49.8 1.920 2016-06-29T00:
Silver Index 18.4 0.520 2016-06-29T00:

Indices

Symbol Open High Last %
NZX 50 6804.2 6900.4 6804.2 1.37%
NASDAQ 4732.9 4787.6 4691.9 1.86%
DAX 9566.1 9650.4 9612.3 0.23%
DJI 17456.0 17704.5 17409.7 1.64%
FTSE 6360.1 6361.1 6360.1 -0.31%
HKSE 20736.8 20828.0 20436.1 1.75%
NI225 15752.7 15781.7 15566.8 0.06%
ASX 5142.4 5247.6 5142.4 1.77%