NZ fund assets double in one year

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NEW ZEALAND - The New Zealand Superannuation Fund saw its assets more than double over the year ending June 30 on the back of solid returns from equity markets, growing by AUD$2.6bn to $6.6bn.

In the 12 months to June 30, 2005 the fund’s assets grew from $3.9bn to AUD$6.6bn - marking a return before tax of 14.13%. The growth consisted of AUD$2.1bn in government contributions and AUD$726m...

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