New Zealand equities managers outperformed in market recovery: MJW
The firm has released its investment survey for the three months, which shows that the local share market performed well, rising 16.9% compared to 18.5% for the global market when hedged to the New Zealand dollar.
The Australian market also posted good returns, up 20.7% in New Zealand dollar terms.
“The world remains steeped in battle with Covid-19 and the prospect of rolling lockdowns across many major economies looks possible. Although companies’ earnings are expected to take a once-in-a-generation hit and interest rates are at record low levels, financial markets are flying high. This quarter’s return from the US share market was the best since December 1998.”
The actuaries said that it was partly due to good timing – the market plummeted at the end of March, which made the June quarter a full three months of recovery.
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