GROWTH STOCKS SOUGHT

Press, Volume XCIX, Issue 29389, 16 December 1960, Page 16

GROWTH STOCKS SOUGHT

Switch From Fixed Interest lAeu> zeuiuau Kress Association) DUNEDIN, December 15. Rather than put their hardearned savings into fixed interest securities such as savings banks, Government stocks, and local body debentures, where the interest was paid out in depreciated currency, the public of New Zealand was becoming more attracted to "growth stocks” with prospects of capital increment, the chairman of the Dunedin Stock Exchange (Mr R. H. Reeves) said today.

Reviewing the year, Mr Reeves told the annual meeting that increased interest had been shown by the investing public in the Stock Exchange, and as a result the volume of business had been a record.

“All this has come about in ho small measure by people fascinated by the idea of owning a stake in the country,” he said Forming investment clubs and unit trusts had, beyond doubt, had the effect of increasing the interest in shares in established companies- ™

. ? e w Zealanders, however, were individualists and preferred to

buy their own shares, though there #ere a number who preferred an interest in a unit trust, where the risk was spread over perhaps dozens of listed companies.