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Fund managers AMP Capital Investors said September quarter returns had been rocky, led by a 7 per cent rise in New Zealand commercial property, but the outlook was positive for some assets.
Amid international market turmoil, hedged global shares and global property securities had negative returns for the three months ended September, AMP Capital head of investment strategy Leo Krippner said. They fell 0.7 per cent and 1.1 per cent respectively.
New Zealand commercial property posted a 6.8 per cent return, followed by 6.5 per cent from unhedged global shares which received a boost from the lower currency.
New Zealand equities returned 1.9 per cent for the quarter, and 7.7 per cent for the year so far.
For the year to date, local commercial property led with a 28.3 per cent return, compared with global property's 0.4 per cent return.
All returns were before tax.
- NZPA
