Mercer New Zealand managed fund survey

Friday 28th July 2000

Returns for periods ended June 30, 2000

Manager	Three months		One year		Three years		Five years		Fund size
	(%)	Rank	(%)	Rank	(%)	Rank	(%)	Rank	($m)	Rank
AMP Asset Management	1.1	9	10.1	10	10.9	8	13.2	6	666.7	1
ANZ Asset Management	2.1	4	9.4	11	10.6	11	13.6	5	63.6	11
Arcus Investment Management	-1.1	12	15.8	2	13.6	1	na		418.6	3
Armstrong Jones	-0.3	11	13.2	5	13.5	2	14.8	2	355.6	6
Axa New Zealand	3.3	2	14.1	3	10.8	9	13.2	6	209.9	8
BNZ Investment Management	1.7	7	10.2	9	12.5	4	13.7	4	384.8	4
BT Funds Management	2.6	3	20.0	1	12.1	5	15.2	1	41.6	12
Colonial First State Inv Management	3.9	1	11.7	7	10.1	12	11.1	11	78.2	10
Guardian Trust Funds Management	0.7	10	11.5	8	13.0	3	14.3	3	251.6	7
Royal & Sun Alliance	1.9	5	13.5	4	11.3	7	12.7	(9)	94.4	9
Tower Asset Management	1.9	5	8.2	12	10.8	9	13.2	6	384.2	5
Westpac Trust Inv Management	1.7	7	12.8	6	12.0	6	11.8	(10)	571.6	2

All rates of return are before tax and before management fees. Rates of return are annualised for periods exceeding one year. Past investment performance is not an adequate test of comparative performance, nor a reliable indicator of the expected absolute level of returns in the future.

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