Photo: Supplied by NZ Super Fund
The NZ Super Fund's annual results are out and they show a return of almost 11.84 per cent, adding 5.5 billion to the Crown's books.
The fund has now grown to 85 billion since the first contributions by the government were made in 2003 - up $8.4 billion on a year ago.
Within three years, the government will begin drawing down on the fund to help smooth the rising costs of NZ Super as the bulk of baby boomers retire.
Earlier this year, international experts ranked the NZ Super Fund as the best performing sovereign wealth fund over 10 and 20 years - averaging returns of 10 per cent in that time.
Jo Townsend is chief executive of fund manager The Guardians of New Zealand Superannuation.
