31.10.2013 - NZ Super Fund exceeds targets in turbulent decade
New Zealand Superannuation Fund has returned an average of 9.13% in each year of its 10-year existence, new figures reveal. The returns are before tax after costs, says the fund’s manager, the Guardians of New Zealand Superannuation. As at September 30, the fund was worth $23.93 billion. It has also paid $3.3 billion in New Zealand tax over the 10 years, including $980 million during the past 12 months. Guardians chairman Gavin Walker says the fund is comfortably ahead of its key performance benchmarks and it has beaten the government’s cost of debt over the decade by 4.26% a year, or $6.96 billion...................................Full Article: Source