New Zealand's Pension Fund Warns of Cooling U.S. Gains | Business and Finance News

New Zealand’s $54 billion superannuation fund is sounding the alarm: recent U.S. stock market surges may be a bubble about to burst. Despite a strong 14.2% annual return, fund chief Jo Townsend warns that today’s explosive gains—nearly double the 20-year average—are unsustainable. The Guardians are dialing back risk and lowering their long-term return target from 7.8% to 7.2%, betting on a more balanced, diversified strategy for the future. Their top bets? Nvidia, Apple, Microsoft, Alphabet, and Amazon—with over $31 billion in U.S. equities. They’re also investing in timber, real estate, and private markets. This caution mirrors Norway’s sovereign wealth fund, which recently urged investors not to expect continued runaway returns. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Sources:https://www.cnbc.com/2026/09/16/new-zealand-sovereign-wealth-fund-stock-market.html More coverage & latest updates:https://sources.thednn.ai/4feab66becf27984 Report issues to [email protected].