Electricity’s rising dominance in NZX 50 may spur funds to seek wider benchmark

Wed, 23 Oct 2013

By Tina Morrison Oct. 24 (BusinessDesk) – The electricity sector’s rising dominance in New Zealand’s NZX 50 benchmark stock index may prompt investors to adopt a wider benchmark to avoid having too great an exposure to the industry. Government moves to partially privatise state-owned electricity companies including MightyRiverPower, Meridian Energy and Genesis Energy are boosting listings on the exchange and increasing the weighting of the electricity sector on the benchmark index. Brokerage Craigs Investment Partners estimates utilities’ in...

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