NZX outperforms ASX in eight of 10 years

The NZX50 is up year-on-year while the ASX50 is down 13.3%.

Curtayne said the New Zealand index was dominated by utilities, growth or healthcare companies – and a2 Milk and Fisher & Paykel Healthcare made up 25% of the NZX50.

Those two companies had been beneficiaries of Covid-19, he said. Australian large companies had not done so well by comparison.

But he said the result was a continuation of the pattern of the last decade.