Trans-Tasman investment opportunities limited

Paul Moore, founder and chairman of Australian fund manager PM Capital, told an adviser briefing in Auckland that a number of factors were making certain global shares attractive.

“The offshore investment proposition is pretty simple: there’s a greater breadth of opportunity, a greater risk-reward ratio as well as a historically elevated currency both here in New Zealand and in Australia. 

“And yet, only 1% of self-managed super funds have their money offshore.  It doesn’t make any sense.”

According to Moore, two of the biggest sectors in the Trans-Tasman market -- mining and banking -- both look unattractive from an investment point of view.