The New Zealand Superannuation fund is ahead of its long-term target after notching up strong returns in 2012, the latest data show.
Since the fund's launch in September 2003 it has returned 7.92%, exceeding the 90-day Treasury Bill rate by 2.84%.
The Fund's long-term performance target is to beat the Treasury Bill rate by at least 2.5%.
The New Zealand Superannuation fund returned 19.17% for the 12 months to 31 December 2012 and finished the year at a record high for the month-end of $20.92 billion, up from $17.73 billion at the end of 2011.
The Crown entity that manages the fund, the Guardians of New Zealand Superannuation, says that its active strategies have added $1.3 billion to funds under management since inception, compared to the fund's passive 'Reference Portfolio' benchmark.
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