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Beware of emerging markets

Every 10 years or so emerging markets seem to flash on to local investors' radar screens, but if the 1.3 per cent per annum performance of the IFC index during the past 10 years is any guide, it is unlikely that too many locals have got rich through this asset class.

Sunday, October 10th 2004

While today the sector's performance looks uninspiring, it hasn't always been so.

In the heady days of 1994, when two closed-end emerging markets specialist funds run by industry leader Templeton and British manager Foreign & Colonial listed on the NZ stock exchange, the IFC index boasted a return of 42 per cent in 12 months.

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Unity First Home Buyer special 4.15
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Kainga Ora 4.59
SBS Bank Special 4.69
TSB Special 4.69
Co-operative Bank - First Home Special 4.69
Nelson Building Society 4.69
AIA - Go Home Loans 4.75
ASB Bank 4.75
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China Construction Bank 4.95
Kainga Ora 4.95
ICBC 4.99
Nelson Building Society 5.09
Westpac Special 5.19
Kiwibank Special 5.19
Co-operative Bank - First Home Special 5.19
TSB Special 5.25
ASB Bank 5.25
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Westpac Special 5.49
SBS Bank Special 5.49
BNZ - Std 5.49
AIA - Go Home Loans 5.59
ASB Bank 5.59
ICBC 5.65
Kiwibank Special 5.69
Kainga Ora 5.69
Co-operative Bank - First Home Special 5.69
Co-operative Bank - Owner Occ 5.79
TSB Special 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.20
Co-operative Bank - Standard 5.34
Co-operative Bank - Owner Occ 5.34
ICBC 5.39
Kiwibank Special 5.75
Kainga Ora 5.79
TSB Special 5.79
Unity Special 5.79

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