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

 

NZ Investors Push WiNZ Over $2 Billion


Media Release

26 November 2001

NZ Investors Push WiNZ Over $2 Billion

Four years after inception, AMP Henderson Global Investors’ World Index NZ Fund (WiNZ) has passed the $2 billion mark, making it New Zealand’s largest single sector fund and the largest indexed fund.

At $2.4 billion AMP Henderson’s WiNZ fund is now larger than the total assets under management of 33 of the 40 New Zealand investment companies.

Initially listed in August 1997, local investors’ thirst for cost efficient global investment has given WiNZ exponential growth. New Zealanders invested $700 million into WiNZ in 2000 and $1.4 billion in 2001 to date.

“A surge from retail investors together with the Government Superannuation Fund Authority selecting WiNZ have given it a real boost over the last quarter,” said Catherine Savage, AMP Henderson managing director.

WiNZ typically enjoys funds inflow of around $12 million per month but over recent months this has more than doubled to around $25 million per month with retail investors taking advantage of attractive prices. The Government Superannuation Fund Authority recently selected the Super WiNZ fund for managing part of its global equity (passive) portfolio.

“WiNZ’s ability to cushion investors through diversification was well illustrated in the wake of the recent terrorist activity in the United States. Two months after the incident the WiNZ share price is up 4.5% while many sector specific funds continue to suffer from market movements.”

“And to ensure that WiNZ has even broader exposure to global markets we are expanding the number of companies that it invests in from 260 to 750. This further benefits investors seeking to diversify their global investments.”

WiNZ is a passive international equities fund that tracks stocks in a modified Morgan Stanley Capital Index (MSCI), giving investors direct exposure to a global portfolio of companies in six “grey list” countries (United States, United Kingdom, Japan, Germany, Canada and Australia).

AMP Henderson is New Zealand’s largest fund manager with over $11 billion under management. The WiNZ fund consists of both a listed (NZSE) component and a superannuation component.

Ends.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: