The ownership composition of the NZX share market changed during 2017, with New Zealand retail investor ownership declining slightly from 23.2% to 22.6%, while portfolio-style investment increased from 77.5% to 79.4%, the highest level in 12 years.
Foreign ownership increased from 36.3% in 2016 to 37.9%, the highest level since 2009. The remarkable uptake of both a2 Milk (ATM) and Xero (XRO), (now majority owned by offshore investors) has had a notable influence on the overall proportion of foreign ownership of New Zealand companies.
The significant effect of this foreign ownership is apparent in the JB Were Equity Ownership Survey, where, if these two constituents were excluded, there would have been a 0.6%
decrease in the level of foreign ownership in New Zealand in 2017.
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