Talk Money: May 25, 2016
The New Zealand Superannuation Fund has topped $30 billion in value.
It is up 1.24 percent over the past twelve months. That might not sound like much, but it outperformed the market.
The Super Fund has grown by an average of 9.49 percent per year since it started.
So did the Government make a mistake when it ceased annual contributions to the Fund in 2009? It said it could not justify borrowing money to put more money into the Fund.
The Guardians of the Fund say if the contributions had continued the Fund would have grown to $47.8 billion by June 30th 20015.
That includes an additional $12.7 billion in government contributions and over $5 billion in extra investment gains.