26.11.2012 - Growth assets pay off for Super Fund
The New Zealand Superannuation Fund has chalked up a bumper month of gains, with its exposure to growth assets delivering higher returns as global share markets rallied in the second half of the year. The fund, known colloquially as the Cullen Fund after former Finance Minister Michael Cullen, delivered a total return of 14 per cent in the 12-months ending October 31 excluding foreign currency hedging. Over a three-year period, assets under management returned 11.8 per cent, while over five years it delivered a gain of 2.4 per cent...............................................Full Article: Source
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