Super Fund makes 1.6pc return

ROMY UDANGA
Last updated 13:14 17/02/2011

Relevant offers

Money

Tax warning to KiwiSavers Auckland house prices skyrocket despite Government action: English Dollar drop means parity out of reach - for now People who have sex twice a week earn 4.5pc more: study Z Energy hits back at petrol price cynics Cheaper prices if Australian dollar parity reached ANZ bank renews airpoints contract with Air New Zealand Uber increases Auckland fares to attract drivers KiwiSaver tops $27 billion: Morningstar Liz Koh: Money Tips for Starting Up in Self Employment

The New Zealand Superannuation Fund was worth $18.47 billion on January 31 after posting a return of 1.61 per cent for that month.

The fund, set up to help pay for state pensions in future years, made a one-month return of $300m after fees mainly due to "modest" gains in its global equity investments.

This brings the total return since inception to 7.55 per cent or $5.16b, from an investment since inception of $14.88b.

The fund's annualised return is 1.8 percentage points higher than the Treasury Bill rate, 0.7 percentage points short of its aspired return of T-bill rate plus 2.5 percentage points.

Last year, a rise in international share markets propelled the Fund to a 4.42 per cent return for December.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content