21.09.2016 - Fall in global equities sees NZ Super Fund record worst performance since 2012
A fall in global equities has seen the annual return of the NZ Super Fund fall to its lowest level since 2012. The sovereign wealth fund, established to help cover New Zealand's retirement costs, said on Wednesday that a drop in the June month meant its value stood at $30.1 billion at June 30, an increase of 1.89 per cent over 12 months. In 2012 the fund returned 1.21 per cent. In the year to June 30, 2015, the fund returns more than 14.6 per cent, making it one of the world's best performing sovereign wealth funds. Since the end of the financial year the fund has surged in value, climbing to $31.4b by the end of August.............................................Full Article: Source
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