New Zealand Superannuation Fund, Auckland, announced a new strategic asset allocation today, according to the NZ$13.1 billion (US $10 billion) fund’s website. Fixed income was increased by two percentage points to 17%, and equities were reduced by two points to 48%. The remainder of the allocation remains the same at 10% property and 5% for each in private equity, infrastructure, timber, other private markets and commodities. The last asset allocation change was made in 2005.
“Given the purpose of the fund, the guardians have agreed that they will continue to be invested in a high proportion of growth-related assets,” said Adrian Orr, CEO, in a news release. “These assets, such as global equities, have considerable short-term volatility on a month-to-month and year-to-year basis but provide significant financial gain over the long term.”
