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Sovereign’s NZ Direct Selections Out-Performs

15 November 2004

Sovereign’s NZ Direct Selections Out-Performs

The added value of research-based recommendations from Brook Asset Management has been demonstrated by the out performance of NZ Direct Selections’ Australasian Share Selection over the first six months. The Selection returned +16.68% (before fees and tax) for the six months to end September 2004 against the benchmark returns of +9.31% for the NZSX50 and +0.54% (NZD) for the ASX300 for the same period.

“This is a really positive start for the Selection,” says Scott Black, General Manager Distributed Products at Sovereign. “The performance was obviously helped by the markets, but the consistent out performance over both the quarters gives added confidence in Brook’s research expertise. Clients get the best of both worlds in this Selection; the expert research and any tax benefits associated with direct investing in shares.”

The NZ Direct Selections offer comprises of one share and two bond selections. The share selection holds Australasian equities based on Brook Asset Management’s recommendations, while the two bond selections are recommended by ASB Group Investments. One bond selection comprises investment grade corporate bonds and the other comprises 50% New Zealand corporate bonds and 50% New Zealand government bonds.

The bond selections were offering yields of 6.89% p.a. for the NZ Corporate Bond Selection and 6.54% p.a. for the NZ Bond Selection at the end of September.

“Given the high investment grading, these are excellent yields,” says Mr Black. “Most investors don’t realise the risks they are taking by investing in some of the retail fixed interest offers around at the moment. Many are below investment grade and, unfortunately, investors are not aware of the importance of quality when investing in fixed interest securities”.


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