House Prices

Punters' pick of the sharemarket

The choices for investing in the New Zealand sharemarket have just got a little more complex.

Saturday, May 15th 2004

Before, the two main options were to invest in an unlisted unit trust, or to buy and sell shares directly.

The unlisted trust could either be of the active type, such as those run by BT Funds Management, Fisher Funds and ING, or passive funds, like TeNZ from the NZ Stock Exchange, AMP Capital's Passive Share fund or the MidNZ fund.

Now there is a third option, which is in some ways a cross between the two - the listed investment company.

Many readers will have noticed that this week two new listed investment companies - Colville Equities and Salvus Investments - have been rolled out for their first public inspection. An earlier offering, the Kingfish fund, hit the showroom several months ago and is now doing well, after raising nearly $60 million from punters.

These aren't the first such investment companies. The Britain-based New Zealand Investment Trust has been around for years and has just over $60 million under management. The trouble is, it hasn't had a high profile among investors and its performance has been mixed over the years.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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