A snapshot of the key factors driving the performance of markets and your funds last month
All Fund returns below are after fees & before tax
New Zealand Growth Fund
The New Zealand share market had a strong August with the New Zealand Growth Fund gaining 4.9%. Portfolio performance was driven by double-digit performance by three key portfolio positions – Xero (+19.3%), Delegat’s(+20.2%) and A2 Milk (+20.7%). All three of these companies generate a significant portion of their earnings offshore and have been beneficiaries of the weak NZ Dollar. A weak kiwi dollar is a helpful tailwind for the export sector.