New Zealand Superannuation Fund Returns 3.65% During October

Adrian Orr, CEO of the New Zealand Superannuation Fund

Adrian Orr, CEO of the New Zealand Superannuation Fund

The New Zealand Superannuation Fund (NZSF) released its monthly report today for the fund’s performance through October 13, 2013. According to the release, the superannuation fund returned 3.65% during the month compared to a 2.10% return the month prior. It has returned 9.44% per annum since its inception in September of 2003.

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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