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Australian-invested funds underperform
Wednesday 2nd of November 2011
Morningstar's annual Sector Wrap shows New Zealand fund managers who invested significantly in the Aussie sharemarket did worse in the past year than those who invested more in local shares.
Only three of the 16 New Zealand and Australasian equity strategies assessed managed to outperform the NZX50 Index over the year to September 30 and none of these had significant Australian exposure....
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