Volatility hits NZ Super Fund
It returned 1.89% after costs and before tax, compared to 14.64% for the same period a year earlier.
The fund out-performed its passive Reference Portfolio benchmark by 0.52% ($155 million) during the year, due mainly to strong performance by active investments in timber and infrastructure.
Its single largest investment, a 42% stake in New Zealand forestry business Kaingaroa Timberlands, increased in value by $82 million to $1.49 billion.
The fund, which is designed to help pre-fund national superannuation payments from 2032, finished the June financial year at $30.10 billion before tax, up $0.56 billion.
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