NEW ZEALAND - The New Zealand Superannuation fund was up 15.45% in the year ended June 30, the second best yearly performance since its inception in 2003.
The fund is now worth NZ$15.6bn (US$11.5bn).
The positive return marks a sharp turnaround from the 2008/2009 fiscal year when the Superannuation fund lost 22.14%, the worst loss in its history. The strongest returns came in the fiscal year 2005/2006 when investments were up 19.2% for the year.
The pension fund invests 45.1% of its assets in international equities and 16.7% in international fixed income. It invests 9.2% in local and overseas real estate combined, 7.8% in timber, 7.4% in infrastructure, 6.3% in domestic equity and 4.6% in commodities.
Officials also allocated 2.2% to "other private markets", 1.3% in private equity, 0.2% in domestic fixed income and the rest in cash. Just over three quarters of the currency exposure is hedged back to New Zealand dollars.
Tenders for first-time fiduciary management mandates will be mandatory, must be conducted on a closed basis, and will apply to any mandate for over 20% of a scheme's assets, the Competition and Markets Authority (CMA) has confirmed.
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