New Zealand Superannuation Fund

New Zealand Superannuation Fund

Type	Sovereign wealth fund
Industry	Institutional Investment
Founded	2001; 16 years ago (2001)
Founder	Michael Cullen
Headquarters	Auckland, New Zealand
Key people	Bill English - Minister of Finance Gavin Walker - Chairman of the Board Adrian Orr - Chief Executive Office Matt Whineray - Chief Investment Officer Cristina Billett - Legal Counsel John Payne - Head of Tax Mark Fennell - Head of Portfolio Completion David Sara - Chief Operations Officer Stewart Brooks - Chief Financial Officer Sara Owen - Head of Corporate Affairs Mika Austin - Head of Human Resources
Operating income	$2.74 Billion (Forecast to June 2016)
Total assets	$29.8 Billion (December 2015)
Owner	Government of New Zealand
Parent	Guardians of the New Zealand Superannuation
Subsidiaries	CNI Timber Operating Company NZSF Aotea
Website	www.nzsuperfund.co.nz

The New Zealand Superannuation Fund is a sovereign wealth fund in New Zealand. New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ageing population. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds.

The Superannuation Fund was created by the New Zealand Superannuation and Retirement Act 2001 on 11 October 2001 by Michael Cullen, who was then Minister of Finance under the Fifth Labour Government, and is colloquially known as the "Cullen Fund".

The New Zealand Government has contributed $14.88b to the fund to date. The sovereign fund posted a record 25.8% return in the twelve months till 30 June 2013. In the 2009 New Zealand budget the current National Government suspended payments to the fund. Contributions are expected to resume in 2020/21 when the Government's net debt to GDP falls below 20% again.

A full list of investments for current and previous years can be seen at the Annual Equity Listing page at the NZ Super Fund's website.

The Fund invested US$60 million into Chicago based LanzaTech in December 2014.

During August 2015, The New Zealand Superannuation invested US$75 million into American-based electrochromic glass company View with a percentage owned not being released.

The Fund has had a high profile in New Zealand after it and Infratil (a publicly listed New Zealand company) acquired Royal Dutch Shell's downstream assets in New Zealand, since renamed Z Energy. The superannuation holds a 20% share in Z Energy.

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