New Zealand Super Fund warns of US stock market correction

The New Zealand Superannuation Fund, managed by the Guardians of New Zealand Superannuation, reported a significant increase in value, reaching NZ$ 94.4 billion for the financial year ending June 30, 2026. This represents a growth of NZ$ 9.3 billion over the previous year, driven by a 14.17% return on investment.

Despite these strong results, CEO Jo Townsend warned of a potential correction in the United States stock market. Townsend noted that recent returns on American equities have been nearly double the annualized average of the last 20 years, suggesting a “reversion to the mean” may be necessary.

As a result of these market outlooks, the fund has lowered its long-term expected annual return forecast from 7.8% to 7.2%. The fund's portfolio includes diverse assets such as timber, real estate, and private market investments, alongside major US holdings including Nvidia, Apple, Microsoft, Alphabet, and Amazon.