The Guardians has won accolades for its governance, transparency, and investment performance, and has been recognised as one of the most innovative sovereign wealth funds globally. This section contains information on our performance across a range of areas.
We measure the Fund's investment performance in two ways:
Given our long-term mandate, we expect to return at least the Treasury Bill return + 2.8% over any 20 year moving average period. This is our long-term performance expectation.
We compare the Fund's returns with a reference portfolio. The reference portfolio is our passive benchmark, and a clear way to measure active investment returns (the value we are adding) net of costs.
The opportunity cost to the Government of contributing to the Fund is using the money to pay back debt. Over time, the Fund is expected to earn more for the Government in investment returns than it would save in debt servicing.
We publish monthly Fund performance data dating back to when it first started investing in 2003.
Controlling costs is central to achieving our mission to maximise returns without undue risk. We aim to achieve the right balance between minimising cost and implementing investment strategies that will, after adjusting for risk, add the most value to the Fund over the long term.
We strive for global best practice across our management, governance and reporting functions.
The Guardians continues to win a number of accolades, and has been recognised as one of the most innovative and top performing sovereign wealth funds globally.
We strive to be as transparent as commercially possible about our management of the NZ Super Fund and how the Fund is performing.