By Chris Hutching
Friday 28th July 2000 |
Text too small? |
Since listing in late 1997 the Winz share price has risen from $1.10 to about $2.30. To remain accessible to smaller retail investors AMP has reduced the minimum shareholding from 3000 to 1000 units costing about $2280.
Winz is now New Zealand's largest sector fund and has benefited from strong funds inflows, New Zealand's lower currency, and strong international performance in markets like the US.
The index fund invests in six countries in diverse assets. Actual returns in the June 1999 to June 2000 year were 25.91% and in the 1998/99-year 17.3%, according to Ampam's Simon Urquhart-Hay.
Ampam managing director Murray Gribben described Winz as "a New Zealand investment success story."
Index funds reflect the markets they invest in and the Winz performance has benefited from strong international markets where it invests. Winz tracks stocks in a modified Morgan Stanley capital index (MSCI), giving investors direct exposure to a global portfolio of 250 listed companies.
No comments yet
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director