The New Zealand Superannuation Fund experienced significant growth in the 2026 financial year, its value reaching $94.4 billion, an increase of $9.3b from the previous year.
This boost in value was attributed to the continued outperformance of global equity markets.
The fund achieved a return of 14.17% for the 12 monthsto June 30, 2026, which was higher than the 2.71% return on 90-day Treasury bills, but slightly lagged the Reference Portfolio benchmark by 0.1 percentage points.
The fund's diversified portfolio, which includes timber, real estate, private market investments, and listed companies, performed exceptionally well in the current market, according to Guardians of New Zealand Superannuation CEO Jo Townsend.
Earlier this year, the Guardians had lowered the fund's long-term expected annual return from 7.8% to 7.2%, reflecting their view that returns on equities were likely to decrease in the future.
The fund is already making a positive contribution to the Crown's balance sheet, its tax payments exceeding the Government's required capital contribution.
