Best ever returns for NZ Super Fund
In the last 12 months, the fund has grown by $15 billion to $59.5 billion, an increase of 29.63% after costs and before tax.
Chief executive Matt Whineray says the result is an exceptional one for the fund, which was set up in 2001 to create a Government nest egg to help pay for future universal superannuation costs.
“This past year demonstrates the importance of sticking to our long-term investment strategies, which are designed to play out through market cycles," says Whineray.
He says the fund has a portfolio mix that was well-positioned to capture strong returns from rising asset values over the year.
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