For the second consecutive quarter property and bonds turned in strong returns while offshore equity markets continued to fall.
Thursday, July 25th 2002, 8:40AM
by The Landlord
The latest data from New Zealand's largest fund manager, AMP Henderson Global Investors, showed property and bonds delivering strong annual returns of 9.8 % and 7.2% respectively.
By contrast global equities had a tough quarter with active and passive funds returning -12.5% and -18.3% respectively. Chief investment officer Chris Wozniak suggested that emotions were clouding analysis as he noted the increasing contradiction between the global economy and equity markets.
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