The New Zealand Super Fund has released its performance report for January 2016, revealing a negative 3.57% return.
The $28 billion sovereign wealth fund attributed this return to its weighting to growth assets - in particular its 65% allocation to international equities, which have taken a hit recently due to global market movements.
However, the fund added that "as a long-term investor we have a greater-than-average ability to withstand this volatility. Shifts in value from month to month must be seen in the context of the fund's long-term purpose and performance."
To illustrate this, the statement pointed to the fund's 9.21% return since it commenced investing in 2003, and predicted that it would return at least 2.7% per annum above the New Zealand 90-day Treasury Bill over a 20-year period. Since 2003, it has returned 4.72% above the Treasury Bill.
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