Half year fund performance strength continues

International equity funds saw solid average growth of just under 5 per cent in the six months and 12 per cent in the year to 30 June 2004 though it was NZ Equity funds leading the way, with active funds increasing just under 6 per cent this half year and 14.5 per cent for the full year.

New Zealand Equity (Active) Unit Trusts

NZ investors currently have over $850 million in NZ equity funds.

Average performances for NZ Equity active funds in June were up 5.93 per cent , New Zealand equity fund managers returned on average 14.55 per cent for the year versus the NZX50 Gross (33 per cent) return of 14.28 per cent. Top performer was the Fisher Funds NZ Growth fund with 21.39 per cent for the year (8.38 per cent for 6 months), while AXA Australasian Selected Equities rose 15.77 per cent for the year after a 4.79 per cent return in the half year.

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