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

 

NZ index shows strong performance against peers

New Zealand index shows strong performance against peers



Click to enlarge

Thursday 14th October 2008 PRESS RELEASE

New Zealand index shows strong performance against peers

The New Zealand Absolute Return Association Inc (NZARA pron: "en-zara"), the organization representing the New Zealand hedge fund, CTA and absolute return equity industry in New Zealand, has recently launched the Ernst and Young New Zealand Absolute Return Index.

The index is narrow, reflecting a small but innovative industry, with initially only seven constituent managers, but represents a cross section of the global industry with global equities, trend-following, long volatility and commodities all represented in the index.

Since inception (data collection started in July 2007), the index has returned over 22%. Year to date in 2008, the index has returned 12.4% with a +3.86% performance in September.

Chairman of NZARA, Anthony Limbrick said "Considering most indices are struggling to post gains on a year-to-date basis or are now substantially below where they were at December 31, 2007, we are quite satisfied with the performance of the index. We believe the performance is a confirmation of the innovation and competence of the index manager group"

The Ernst and Young New Zealand Absolute Return Index is based on a concept of simple averages i.e. each of the seven constituent managers presents an "NZARA Average", an average of the performance of all their funds or programs that are available for new money. This collection of averages is then compiled again as a simple average to create the index. Ernst and Young compiles the index but is not a verification agent and does not guarantee the veracity of the performance numbers presented by the individual managers.

The index documentation was compiled by law firm Minter Ellison Rudd Watts.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: