Coffers enhanced by $1bn by Super Fund
In the month of April the Super Fund posted an investment return of nearly 9%, enhancing its coffers by $1 billion.
From April 1 to May 5 the unaudited performance achieved, puts forward a $1.75 billion jump from the fund's lowest balance in mid-March.
Now the entire fund is up to $12.5 billion, before regaining its level of last August. Thus it has approximately $2 billion more to recover.
Super Fund chief executive Adrian Orr expresses that the result illustrates the futility of attempting to pick and act on short-term signals.
He said, "Staying our course is the best option for a fund with our horizons."
Chairman David May said to the government's Commerce Committee, "We are in a marathon not a sprint. Under our legislation there will be no withdrawals from the Fund until 2027 with the majority occurring well after that."
The Super Fund by now has a major experience to New Zealand as of 18% of its funds are under management or 27% of funds including cash holdings.
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