Chasing best practice key to NZ Super Fund’s success

Chasing best practice key to NZ Super Fund’s success
Matt Whineray has been at the super fund for more than 15 years. (Image: NZ Super Fund)
Paul McBeth
The New Zealand Superannuation Fund bounced back in the latest financial year and is still tracking ahead of its reference portfolio, adding about $15.1 billion of value above and beyond what a passive approach would have delivered since it was set up.The fund’s latest result shows a pre-tax return after costs of 11.87% in the year ended June 30, bouncing back from the sharp sell-off in bonds and equities in the prior year. That lagged behind the 12.03% return from its reference portfolio for the year.However, since its inception in 2003,...

More Markets

Rakon investor raises issues over failed bid
Markets

Rakon investor raises issues over failed bid

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered s...

New Talisman Gold Mines halts trading
Markets

New Talisman Gold Mines halts trading

On Monday, Australian and New Zealand Exchange-listed New Talisman Gold Mines halted NZX trading.The halt follows the Australian Securities Exchange's (ASX) decision to suspend trading in New Talisman Gold Mines securities on that exchange following the release of the company...

Glenbrook to get big grid-scale battery as Contact teams up with Tesla
Markets

Glenbrook to get big grid-scale battery as Contact teams up with Tesla

Contact Energy has teamed up with electric car company Tesla to build a grid-scale 100-megawatt battery at Glenbrook at a cost of up to $163 million.The company said the battery would enhance Contact’s renewable-energy flexibility and provide enough electricity for more than two...

Fletcher provides NZICC updates, hands over Horizon Hotel to SkyCity
Infrastructure

Fletcher provides NZICC updates, hands over Horizon Hotel to SkyCity

Fletcher Building has settled remaining contract works insurance claims with the New Zealand International Convention Centre project insurers.Also known as builders' insurance, contract works insurance (CWI) covers construction that is underway.In February, Fletcher determine...