Finance
World-Beating New Zealand Sovereign Wealth Fund Posts 15% Annual Return
- International equities drove result, CEO Jo Townsend says
- CIO search continues after Stephen Gilmore went to Calpers
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One of the world’s best-performing sovereign wealth funds, the New Zealand Superannuation Fund, has posted a 14.9% return in the latest financial year, with funds under management swelling to NZ$76.6 billion ($47 billion).
The fund was rewarded for its high exposure to global equities, Jo Townsend, chief executive of fund manager Guardians of New Zealand Superannuation, said in an interview Monday. “Nonetheless, we do have a very large diversified portfolio and there were certainly solid contributions right across the portfolio over the past year.”