Business

Investor confidence high - ASB

07:20 am on 14 November 2012

ASB Bank's latest survey shows investor confidence is at its highest level in two years, buoyed by the ongoing Christchurch rebuild.

The bank's investor confidence index climbed five points to a net 13% over the three months to September.

ASB says the European Central Bank's pledge to do whatever it takes to keep the euro currency zone together appears to have improved the attitude and outlook of New Zealand investors.

ASB's head of wealth advice Jonathan Beale says the high level indicates New Zealanders are considering the benefits of higher risk and higher yielding investments.

He says that's reflected in the type of assets people prefer to invest in with a continuing strength in investment properties and lift in managed investments, which he says has come at the expense of less-risky classes such as term deposits.

But Mr Beale says the appetite for risk has not extended to the sharemarket, with only 7% percent of investors believing this will offer the best returns over the next year.