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Sovereign Wealth Funds

New Zealand Super reports 4.2% gain for first quarter of fiscal year

New Zealand Superannuation Fund on Wednesday reported a strong start to its new fiscal year, with a 4.2% gain for the quarter ended Sept. 30, lifting the value of its portfolio to NZ$36.35 billion ($26.2 billion).

The latest announcement came a day after the Auckland-based sovereign wealth fund released its latest annual report, showing a 20.7% gain for the fiscal year ended June 30.

For the 12 months through Sept. 30, the fund reported a 19.2% gain.

At the end of the latest quarter, New Zealand Super reported allocations of 66% to global equities, 11% to fixed income, 6% to private equity, 5% to timber, 4% to New Zealand equities, 3% to infrastructure, 2% each to "other private markets" and "other public markets," and 1% to rural farmland.

At the June 30 close of the prior quarter, allocations to timber, at 6%, were 1 percentage point higher, while allocations to private equity, at 5%, were 1 percentage point lower. All other allocations were unchanged.