Foreign ownership of NZ sharemarket hits highest level since 2010

Mon, 05 Dec 2016

By Fiona Rotherham Dec. 6 (BusinessDesk) - Foreign ownership of companies listed on the New Zealand sharemarket has risen to 36.3 percent, its highest level since June 2010, according to JBWere’s Foreign Ownership Survey. However, ownership by local retail investors fell 4 percent, hitting 23.2 percent, its lowest level in four years. Portfolio-style investment also fell. Bernard Doyle, head of JB Were’s investment strategy, said the increase in foreign ownership in recent years has been driven by institutional fund managers hunting fo...

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