NZ Super Fund down in May

The New Zealand Superannuation Fund made a negative returning in May but its year-to-date return is 17.26 per cent.

The absolute return after fees but before tax was negative 4.82 per cent in May. It was the first monthly negative return since January.

Since its inception on September 30, 2003 the Superfund has produced an annual return of 5.81 per cent.

The fund size had grown to $15.86 billion.

About 6.6 per cent of the fund is invested in New Zealand equities and 37.2 per cent is invested in international large capitalised equities. The percentage of the fund invested in timber assets is 7.1 per cent.

The Government has suspended automatic contributions to the Superfund to avoid further increasing debt.

- NZPA