A boutique fund manager says an increasing number of local investors are cashing up and taking profits on property and switching into other assets to spread their risk.
House balancing on money Photo: 123RF
Recent Reserve Bank data indicates 95 percent of New Zealand investments are invested only in domestic assets, most of it in property and conservative options such as term deposits.
Elevation Capital Management managing director Chris Swasbrook said many investors had an aversion to risk and in some cases even a fear of sharemarkets and the wild volatility that sometimes afflicted them, although that was slowly changing.