NEW ZEALAND - The New Zealand Superannuation Fund returned 4.42% in December 2010, up from -0.38% in the previous month, due to an increase in global equities.
The fund's assets increased to NZ$18.21bn ($14.12bn) at the end of the year, from NZ$17.43bn at the end of November.
Returns have fluctuated since July's 4.76%, declining to -1.37% in August, increasing to 6.11% in September and decreasing again to 2.66% in October.
Earnings for the fiscal year starting June 2010 stood at 17.08%.
Strong global equity market was the main cause of the fund's growth which allocated NZ$10.94bn or 60.1% to the asset class in December. It allocated 10.4% to fixed income, 5.2% to domestic equity, 5.7% to property, 7.9% to infrastructure, 6.6% to timber, 2.4% to other private markets, 1.2% to private equity and 0.5% cash, collateral and foreign exchange hedges.
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