Better Year For Investment?

Press, Volume CVII, Issue 31542, 2 December 1967, Page 18

Better Year For Investment?

As long as the Government is able to contain inflation, investors will fare much better in the coming year, Mr Hamilton says in his annual address.

In the last year New Zealand’s index had fallen by 7 per cent but the recent devaluation of the New Zealand dollar to parity with Australia had taken away some of the uncertainty in the market, halting this trend.

Many stocks were showing satisfactory returns and prospects were sound, said Mr Hamilton. “It is a great pity that New Zealanders do not have the free market in Australian shares they enjoyed before July 16. 1966. “A recent graph showing

the comparative growth rates of the all ordinary share index based at 500 in 1926 to mid 1967 shows New Zealand’s growth to just under 1500 and Australia’s just over 3500.

Overseas Restrictions “It is to be hoped the Reserve Bank will see the way clear to uplift as many restrictions as possible, as soon as our overseas position starts to improve,” he said. At present, brokers were flooded with extra paper work because of these restrictions and in many cases some of the work seemed unnecessary.

Unit Trust Has Income Fall (N.Z. Press Association) AUCKLAND, Dec. 1. The number of units in Security First unit trust, Auckland, decreased 9000 to 316,000 in the half year to October 31, and for the full year the drop totalled 2000. The income in the latest half year fell $101.68 to $5818.17, compared with the corresponding six months of 1966.

The payout is $1.45 per 100 units, compared with $1.15 in the previous half and $1.72 last October.