New Zealand Superannuation Fund Returns 3.65% During October
The newest gains put the fund size at NZ$ 24.79 billion (US$ 20.64 billion) up from NZ$ 23.93 billion (US$ 19.93 billion) in September.
Adrian Orr, chief executive of the NZSF, credits a contrarian approach to investing in delivering high returns post-crisis. Since last month’s report, the Fund has become a Substantial Security Holder (a person/entity that has a 5% or more interest of voting securities of a public issuer) in two New Zealand listed equities: Metlifecare, a provider of retirement villages in New Zealand and Tower, an insurance provider; the fund has taken 19.9% and 6.96% stakes, respectively.
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