Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Thirst For Global Product Pushes Winz Over $1.7B

MEDIACOM-RELEASE-AMP-ASSET-MANAGEMENT

Thirst For Global Product Pushes Winz Over $1.7 Billion

Just six months after passing $1 billion, AMP Asset Management's World Index NZ Fund (WiNZ) has passed the $1.7 billion mark, making it easily New Zealand's largest single sector fund.

AMPAM's WiNZ fund is now larger than the total assets under management of 30 of the 40 New Zealand fund managers.

Initially listed in late 1997, local investors' thirst for cost efficient global investment has given WiNZ exponential growth. New Zealanders invested $400 million in 1998, $600 million in 1999 and $700 million in the first six months of 2000.

"The huge local demand for flexible global investment and its strong performance has seen WiNZ become a New Zealand investment success story," said Murray Gribben, AMPAM managing director.

"And to assist smaller investors in gaining access to offshore markets we have now decided to reduce the minimum shareholding in WiNZ from 3000 to 1000 units. This means that, based on today's share prices, retail investors can get cost efficient global exposure for as little as $2280."

WiNZ is a passive international equities fund which tracks stocks in a modified Morgan Stanley Capital Index (MSCI), giving investors direct exposure to a global portfolio of around 250 listed companies.

"The local thirst for cost efficient, locally serviced global investment is such that we're about to launch a complete suite of global investments through a joint venture with our sister company, Henderson Investors, in the United Kingdom. This will allow sector and region specific global investment."

"It's also great to see the WiNZ share price at $2:28, after having listed at just $1:10 two years ago. This means that investors have enjoyed potential returns of around 45% per annum, annualised over that time."

AMP Asset Management is New Zealand's largest funds manager, managing a total portfolio of over $9 billion. It was also the recipient of the 1999/2000 IPAC Fund Manager of the Year Award.

Ends.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news