NZ Super Fund reports 1.89% return dragged down by negative global equities

Tue, 20 Sep 2016

By Fiona Rotherham Sept. 21 (BusinessDesk) - The New Zealand Superannuation Fund delivered a lower return in its latest financial year, dragged down by negative returns from global equities. The fund reported a 1.89 percent return after costs and before tax for the year ended June 30, down from a 14.6 percent return the previous year, according to its latest annual report. The fund, which will help pre-fund national superannuation payments from 2032, finished the June year valued at $30.1 billion, up $560 million from the previous year....

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