Virus crisis wipes $8.9 billion off NZ Super Fund's value

By Jenny Ruth | Fri, 20 Mar 2020


The New Zealand Superannuation Fund said global market volatility has wiped $8.9 billion, or 19.5 percent, off its value but says it can withstand the disruption resulting from the worsening coronavirus crisis.That figure is unaudited and before tax but after costs and the fund was worth $37.78 billion at the close of trading on March 17, down from $46.68 billion at Dec. 31."As a long-term investor with no substantial withdrawals until the 2050s, the fund is well-placed to withstand market downturns and our investment strategy is designed with...