Forum Archive Index - February 2000

["Wilfried Roding" <roding@xtra.co.nz>]

Henry!

It would appear that offshore funds are dumping their NZ investments due to
their exposure to the continuing devaluation of the Kiwi and better returns
elsewhere. Franklin Resources of the US, for example, have been selling off
huge chunks of their NZ portfolio, viz the report from ABN AMRO today:

"US-based investment group Franklin Resources Inc. has taken an axe to its
New Zealand share holdings in the past few weeks, pulling out millions of
dollars in favour of more lucrative overseas markets, according to a report
in The National Business Review. In the past few weeks Franklin Resources
has cut its stake in Brierley Investments Ltd (BRY) and Fletcher Challenge
Ltd (FEG,FLB,FFS,FLP) and cashed out NZ$10 million of its shareholding in
Air New Zealand (AIRVB)."

Is it a good time to buy?
My opinion is, that the share prices in these undervalued (from a NZ
perspective) blue chips will rise rapidly as soon as the NZ$ shows definite
signs of reversal.

In the meantime, buy Advantage. Soros can't be wrong!

Regards
Willi




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