Heavy 70% equity weighting drives NZ Super's record return

New Zealand Super fund reported record returns of 29.6% for its fiscal year that ended on June 30, largely attributed to its portfolio mix, which has nearly 70% of its assets allocated to listed equities. The fund’s results bring its total assets under management to NZ$59.8 billion ($42.39 billion), it said in a statement released on Tuesday (September 14). NZ Super has 63% allocated to global equities, down from last year’s 67%. Domestic equities held steady from last year at 4…