AMP Capital NZ stays neutral on stocks, listed property, overweight on cash, foreign exchange

Tue, 30 Jan 2018

By Jonathan Underhill Jan. 30 (BusinessDesk) - AMP Capital New Zealand, which manages more than $18 billion of assets, remains neutral on stocks as equity benchmarks chart record highs, preferring to hold more cash, foreign currencies and alternative growth assets. The fund manager's latest quarterly strategic outlook broadly maintains the view of asset classes it set out last November and its forecasts for the next three years are broadly unchanged, with New Zealand's economic growth expected to average just under 3 percent a year for th...

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