| New Zealand Superannuation Fund reported a 1.89% investment gain for its financial year ended June 30, lifting the value of its portfolio to NZ$30.1 billion ($21.4 billion). In a news release Thursday, New Zealand Super said strong gains by the Auckland-based sovereign wealth fund's active investments in timber and infrastructure helped it outperform its passive reference portfolio by 52 basis points for the year.
Even so, negative returns of just less than 2% by global developed and emerging markets equities left the fund's gains for the latest year well below the 14.6% advance New Zealand Super enjoyed for its prior financial year, and well off the annualized pace of 9.44% the fund has maintained from its launch in 2003 through June 30...........................................Full Article: Source
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