NZ Super Fund continues to grow - value lifts to $25b

The New Zealand Superannuation Fund returned 27.76% on its investments in the last 12 months to lift its value to nearly $25 billion at the end of November.

Since inception in 2003, the fund has returned 9.55% a year and in November returned 1.66%.

The fund, set up by former finance minister Sir Michael Cullen and also know as the ''Cullen fund'', was established to pre-fund New Zealand's superannuation requirements.

The Government stopped contributions to the scheme and Finance Minister Bill English indicated contributions would restart once the Crown accounts returned to surplus.

The fund has received no Government contributions in the past three years but in that time has added more than $9.5 billion from investment returns.

Since the inception of the fund, the guardians have added $8.2 billion to the fund, compared with the Treasury bill rate, one of the measures used to rate the fund's performance.

The fund has 62% of its money invested in global equities, 10% in fixed income, 6% in property and 5% in each of timber, infrastructure and New Zealand equities. It has the rest invested in other private markets, private equity and farmland.

In New Zealand, it has $296 million invested in Z Energy, $180.6 million in Metlifecare, $160.8 million in Fletcher Building, and $110 million in Telecom. Other New Zealand investments include Auckland International Airport, Fisher and Paykel Healthcare, Ryman Healthcare, Contact Energy, Sky City Entertainment and Infratil, the company with which it went halves to buy Z Energy. International investments include Apple, Zurich Airport, Exxon Mobil, Microsoft, Google and Samsung.


Main points
Fund size:
$24.93 billion.
Return since inception: 9.55% p.a.
Return over last 12 months: 27.76%.
November return: 1.66%.


 

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