Melville Jessup Weaver: NZ stocks cushioned by currency decline

A falling local currency boosts the relative value of offshore assets. (Image: Unsplash)

Fri, 22 Jul 2022

A sharp decline in the value of the New Zealand dollar has protected some local investors from larger losses on their equity portfolio, according to a Melville Jessup Weaver report. The investment consulting firm said this week the sudden decline in share markets at the start of 2022 had continued into the June quarter, leading to significant losses for investors.“New Zealand was by no means immune to the widespread losses that we have witnessed this quarter,” said actuary William Nelson.The local market was down 10.2% but stil...

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