Super Fund makes 1.6pc return

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

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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.

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- © Fairfax NZ News

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