NZ Super Fund says a strong performance by global share markets during the first half of this year has underpinned an "excellent" full-year result for the fund, which returned 11.9% after costs and before NZ tax. The fund said that the global recovery in share prices over the year meant that the Super Fund’s total return slightly lagged that of its Reference Portfolio benchmark, which generated 12%. This year, global equities performed very well, and the Super Fund slightly underperformed the reference portfolio. Whineray said despite the Super Fund’s continued strong financial results, the global investing environment remained challenging. Guardians Chair Catherine Drayton said that the end of September marks 20 years since the first investments by the NZ Super Fund.

Source: Stuff September 13, 2023 05:28 UTC