INVESTORS TRUST

Press, Volume CIII, Issue 30635, 29 December 1964, Page 11

INVESTORS TRUST

Fewer Aust. Shares Investors Unit Trust’s holdings of Australian shares have been reduced because of the difficulty in keeping in close touch with individual companies, says the chairman (Mr T. W. Perry) in 'ris halfyearly report to shareholders. The outlook for long-term investment in Australia, however, was sound, he said. “The New Zealand share market is still firm and confident in tone and very much more insular in outlook than that in Australia,” says Mr Perry. The Australian market was more affected by what happened on the international scene. “The outlook on the whole is good and there seems no reason why the market should decline as long as there is no untoward reverse in primary produce prices in the next few months.” Portfolio’s Value The market value of the trust’s portfolio was £156,015, of which £145,185 was in New Zealand stock and £9830 in Australian. Dividend for the half-year to October 31 was a steady 7s 6d per 100 units. The trust will introduce an investment plan—the first of its kind in New Zealand—which will combine life assurance with investment in equity shares, says Mr Perry. Sponsored by Noble Lowndes (N.Z.), Ltd., the plan provides life cover underwritten by the English Insurance Company, Ltd. Benefits, on maturity or death, will be in units of the trust.