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 0.7234 0.0057 0.79%
AUD 0.9374 0.0047 0.50%
EUR 0.6838 0.0033 0.48%
GBP 0.5762 -0.0002 -0.03%
HKD 5.6124 0.0421 0.76%
JPY 81.5520 0.1310 0.16%

Commods

Commodity Price Change Time
Gold Index 1251.4 11.930 2017-02-23T00:
Oil Brent 56.8 0.750 2017-02-23T00:
Oil Nymex 54.5 0.860 2017-02-23T00:
Silver Index 18.1 0.170 2017-02-23T00:

Indices

Symbol Open High Last %
NZX 50 7090.4 7099.6 7089.5 -0.43%
NASDAQ 5866.8 5867.0 5860.6 -0.43%
DAX 11994.1 12016.0 11998.6 -0.42%
DJI 20817.2 20840.7 20775.6 0.17%
FTSE 7302.2 7310.1 7302.2 -0.42%
HKSE 24115.6 24121.9 24114.9 -0.38%
NI225 19232.1 19381.1 19371.5 -0.16%
ASX 5784.7 5784.7 5784.7 -0.77%