NZ Super Fund loses $3.3b but beats its benchmark

NZ Super Fund loses $3.3b but beats its benchmark
NZ Super fund chief executive Matt Whineray said we are entering a "low return period". (Photo: NZ Super Fund)
Dan Brunskill
The New Zealand Super Fund lost more than $3 billion in the year ended June as global markets tanked due to higher interest rates and soaring inflation. However, the crown investment firm said it had outperformed its benchmark by 7.3%, effectively avoiding the worst effects of the overall downturn.“It might sound counterintuitive to say we had a strong year with the drop in value of the Fund,” said chief executive Matt Whineray.“However, our active investment strategies have performed extremely well and are a reflection o...

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