[The Wrap] The year of the adviser
After around a decade long bull market in equities it seems that the strong positive returns of the past are not going to continue. At some time there had to be a reversion towards the mean and maybe we are heading there now.
The New Zealand sharemarket has just recorded its first negative year in more than a decade. And the start of 2022 has not been a positive one either. The NZX 50 index is set to finish January down almost 10% having broken below 12,000 points – the lowest it has been since October 2020.
Added to that we have seen stories where some high performing funds have taken big performance hits. At the end of last year Sydney-based Magellan, a manager loved by many New Zealand advisers, has had a tough time.
Were it is going to get interesting this year is to see what happens with the thousands of retail investors who have embraced the online platforms like Hatch, Sharesis and InvestNow.
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