AMP Capital takes advantage of strong Telecom price to trim holding

Fri, 13 Jul 2012

July 13 (BusinessDesk) - AMP Capital Investors (New Zealand) has sold down its stake in Telecom to below 5 percent, taking advantage of a stock price trading around its highest levels in four years. The Wellington-based fund manager, one of New Zealand’s largest, sold 18.9 million shares of Telecom between April 1 and July 7, reducing its stake to about 4.9 percent from 5.7 percent. Shares of Telecom, which spun off its Chorus network company in November, fell 0.9 percent to $2.56 and have climbed 22 percent this year. They traded as high as...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

No-nonsense words for fund managers
David Chaplin | Wed, 18 May 2022

The Financial Markets Authority will pay closer attention the practice of bundling up advice fees and trail commissions within products and the use of cash rate-based performance indexes. 

Markets Market close
NZ shares slide on recession risk
Dan Brunskill | Tue, 17 May 2022

Central banks are expected to rapidly tighten policy, the risk of an energy crisis in Europe remains, and economic activity in China has been slowing.

BitPrime calls on crypto community for cash
Dan Brunskill | Tue, 17 May 2022

The crypto retailers plan to create a decentralised autonomous organisation to give supporters a say in how the business is run. 

Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.

Partner content
More fuel storage needed now

Boosting fuel reserves could prevent social & economic disruption.