Kiwi sovereign wealth fund NZ Super is edging close to NZ$70 billion ($65 billion) in total assets, ending the calendar year with 16.03 per cent pre-tax return.
The Treasury Bill benchmark for the same period was 5.16 per cent.
NZ Super has a reference portfolio set by the Guardians’ Board as a notional portfolio of passive, low-cost, listed investments suited to the fund’s long-term investment horizon and risk profile.
However, the fund also has an actual portfolio that tracks the sum of all the investments the fund made to reflect the reference portfolio, plus any value-adding “active” investments.
The reference portfolio, which is made up of 80 per cent shares and 20 per cent fixed interest assets, returned 18.3 per cent for the year.