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NZ Superfund makes positive return in October

The New Zealand Superannuation Fund produced a 2.66 percent return in October, taking the year-to-date return to 12.55 percent.The fund's value was $17.664.2 billion in October.Its return since inception in 2003 on an annualised basis is 6.99 percent.The

NZPA
Tue, 30 Nov 2010

The New Zealand Superannuation Fund produced a 2.66 percent return in October, taking the year-to-date return to 12.55 percent.

The fund's value was $17.664.2 billion in October.

Its return since inception in 2003 on an annualised basis is 6.99 percent.

The fund was set up by a Labour Party-led government to help fund the future cost of New Zealand superannuation by investing government contributions and returns on the contributions over the long-term.

The current government has suspended payments to the fund for at least a decade to help reduce Crown debt.

The fund's long-term target is to exceed the rate of return on Treasury bills by 2.5 percent over rolling 20-year periods.

NZPA
Tue, 30 Nov 2010
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NZ Superfund makes positive return in October
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