The New Zealand Superannuation Fund has recorded its best and worst quarterly returns in its six-year history.
Representatives of the fund told the Commerce Select Committee on Thursday the December 2008 and March 2009 quarters were the two worst quarters on the fund's record.
They were followed by the two best quarters, which delivered record returns.
The Fund's says the result reflects the volatility of financial markets.
Its assets now total $15.6 billion.
In May, the Government announced it was suspending contributions to the fund until 2011, because of the recession.