WiNZ a winner
Investors have poured more than $1 billion into the WiNZ index fund in the past two years.
Monday, November 15th 1999, 12:00AM
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AMPAM says $400 million was invested in WiNZ in its first year, and more than $600 million in its second year. “We’re delighted to have passed the $1 billion mark with WiNZ. It’s great to have provided New Zealand investors with a tax efficient tool for getting direct access to the world’s leading financial markets,” AMPAM managing director Murray Gribben says.
“It’s also pretty exciting to see the WiNZ share price hovering close to the $2 mark, after having listed at just $1.10 two years ago. This means that investors have enjoyed potential returns of around 45 per cent, annualised over that time.
“I think the scale of investment into this product speaks volumes for the market readiness for a tax effective, global equity fund.”
Of the $1.046 billion invested in WiNZ, 30 per cent is retail money and 70 per cent is wholesale. AMPAM have created a special version of WiNZ for superannuation funds called “SuperWiNZ” which has attracted $700 million over the last two years.
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