New Zealand Superannuation Fund, Auckland, posted a 1.1% gain for the quarter ended Sept. 30, after paying taxes owed to the New Zealand government, lifting the value of its investment portfolio to NZ$26.7 billion (US$21.4 billion).
On a pre-tax basis, the superannuation fund posted a 3.2% investment gain for the quarter, a spokeswoman said.
The fund's valuation slipped 4 basis points in September, following gains of 2.44% in August and 0.77% in July.
For the quarter, the superannuation fund's allocations to global equities and fixed income slipped one percentage point apiece to 61% and 11%, respectively.
Private equity's weight in the portfolio, meanwhile, rose to 4% from 3%, while allocations to “other private markets” likewise climbed to 3% from 2%.
Allocations to other market segments remained unchanged at 6% property, 5% each timber and New Zealand equities, 4% infrastructure and 1% rural farmland.