NEW ZEALAND - The New Zealand Superannuation fund has returned 25.05% for its fiscal year ending June 2011.
The fund's value stood at NZ$19.03bn ($16.2bn) at the end of its fiscal year, an increase of over NZ$3bn from its last fiscal year's value of NZ$15.6bn. More details on its year-end figures will be available when the annual report is released in October 2011.
In June alone, the fund was down 1.02% due to declining global equity markets. The negative return followed a pre-tax return of 0.85% in the previous month and an overall increase of 7.03% since inception on 30 September 2003.
Over 60% of fund value was committed to global equities. The fund also had an exposure of 5.2% in New Zealand equities, 1.2% in private equity, 11.2% in international fixed income, 0.1% in domestic fixed income, 4.2% in global listed property, 1.3% allocation to domestic property, 9.5% in infrastructure, 6.8% in timber and 2.6% was invested in other private markets.
Over 60% of the currency exposure is hedged back to New Zealand dollars.
Separately, the super fund was found defending against Green Party claims saying it has NZ$2.5m invested in companies manufacturing cluster bombs.
In response, it said the investments are in line with its responsible investment policies and are not in breach of the Cluster Munitions Convention. The fund will however review its portfolio using specialist screening agencies to ensure its excluded companies are up to date (Global Pensions: 26 August 2011).
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