Give thanks to the Magnificent Seven: NZ Super Fund value increases $11.2 billion in a year

The NZ Super Fund had about $1.38 billion invested in Apple, one of the so-called Magnificent Seven. (Image: Getty)

Mon, 09 Sep 2024

Give thanks to the Magnificent Seven. The NZ Super Fund has hit an all-time high and was valued at $76.6 billion for the year to June 30, an increase of $11.2b on the prior financial year. Chief executive of fund manager the Guardians of New Zealand Superannuation, Jo Townsend, said the fund had benefited from strong global share markets. Much of that growth came from the so-called Magnificent Seven: Apple, Microsoft, Google's parent Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla. “Having global mark...

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