NZ investors getting wiser?

By Phil Boeyen, ShareChat Business News Editor

Tuesday 3rd July 2001

ANZ (NZSE: ANZ) Funds Management says a more sophisticated and educated investing public are partially behind a record retail net flow into its funds for the quarter ending June.

The bank says it received $103 million in funds for the period, across all asset and product classes.

Funds general manager, Graham Duston, believes there are a number of different reasons for the record, including better-educated investors.

"Although we have had some very volatile investment markets over the last 12 months we are starting to find that both existing and prospective investors understand investment cycles better today.

"They tend to be more focused on their long term goals and strategies as opposed to short term market fluctuations."

Mr Duston says a lot of the work done by the investment industry and financial commentators over the last few years had set the education frame work in place, and the bank has also been pushing distribution of its funds products to its bank branches.

"Funds Management has traditionally been seen as something for people with a lot of money. Whilst we have a very strong Wealth Management programme in place, this new proposition complements the existing programme and means that we can now offer a strong funds management proposition to most investors in New Zealand," Mr Duston says.

ANZ has more than $1.6 billion in funds under management in New Zealand.

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