NZ Super Fund underweight in US equities ‘for quite some time’, says CIO

Brad Dunstan is a co-chief investment officer of NZ Super, alongside Will Goodwin. (Image: Supplied)

Tue, 03 Jun 2025

Ignoring the noise and being underweight in US stocks has helped the New Zealand Super Fund beat its benchmark.So far this year, European equities have outperformed their US counterparts by a wide margin, blunting the narrative that it has been best to invest in the US to make higher returns. As of Friday, the Stoxx Europe 600 was up 7.29% year-to-date while the S&P 500 was up 0.74%. The German benchmark DAX 40 has risen nearly 20% this year.NZ Super's co-chief investment officer, Brad Dunstan, told BusinessDesk the fund has l...

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