New Zealand Superannuation Fund

Full investment portfolio: Developed market equities 56% Emerging market equities 9% Fixed income 9% Timber 5% Private equity 5% NZ equities 4% Other private markets 3% Infrastructure 2% Property 2% Other public markets 2% Rural farmland 1% Established in 2002, the New Zealand Superannuation Fund began investing in 2003. It is managed by the Guardians of New Zealand Superannuation, a Crown entity, has grown to nearly $30 billion since inception and is expected to reach $44.4 billion by 2021. The Fund is tasked with investing globally to help pre-fund the future costs of universal superannuation. Their aim is to smooth the cost of New Zealand Superannuation between today’s taxpayers and future generations. In October 2015, the Fund revealed that In line with its increased concentration on directs and an increasing focus and discipline on costs, leading to “in-sourcing, co-investment and collaboration”, it expects to hire about 10 people over the year. The fund has no pre-set asset allocation for direct investments, including private equity, but set the level of risk.