New Zealand Super has pulled back its strategic tilting positions for the first time since the program was introduced in 2009, as it sees most asset classes returning to long-term fair value.

The strategy has added an annualised return of 1.2 per cent for the NZ$34 billion ($24 billion) sovereign wealth fund since inception; however, David Iverson, head of asset allocation at New Zealand Super, says prices are now closer to fair valuations, so the relative sizes of the tilt positions will be pared back...

READ MORE