Recent Awards

New Zealand Fund Manager of the Year 2014
Fund Manager of the Year: Domestic Equities Category, NZ 2014
Fund Manager of the Year: Fixed Interest Category, NZ 2014

Boutique Manager of the Year 2014
New Zealand Fixed Interest Finalist 2014
Australasian Equity Finalist 2014

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Investment Solutions

Retail Investors

Harbour offers retail investors the following range of NZ unit trust Portfolio Investment Entities (PIEs) either through an Authorised Financial Advisor or RaboDirect:

Australasian Equity Fund

Australasian Equity Income Fund

Australasian Equity Focus Fund

New Zealand Equity Advanced Beta Fund

NZ Core Fixed Interest Fund

NZ Corporate Bond Fund

Wholesale Investors

Harbour offers wholesale investors a range of NZ unit trust Portfolio Investment Entities (PIEs). Contact Jody Kaye for more information.

Iwi, Charities & Other Wholesale Entities

Harbour offers iwi, charities and other wholesale entities tasked with investing in perpetuity or with inter-generational investing, either a single asset class solution or a tailored multi-asset class solution. Contact Jody Kaye for more information.

Latest Research

Harbour Navigator - 30 April 2015

Diverging central bank outlooks

As expected, both the RBNZ and the US Federal Reserve left interest rates unchanged this morning following their policy meetings. However, the key news was that their statements pointed to very different outlooks. While the US Fed retained a tightening bias, the RBNZ moved to an easing bias. For those investors worried that a lift in interest rates could impact the price of yielding equities, keep watching for this to be led from a realignment in US and European interest rates.

Australasian Equities Monthly Commentary - April 2015

Turning points – stock selection key

The New Zealand equity market returned -0.73% in April while the Australian market returned -1.70% (+.05% in NZD terms). The MSCI World equity rose 3.0% with emerging markets performing strongly. China was the best performing market reflecting Government stimulus. European equities fell after a strong recent rally, possibly due to rising Greece Euro exit concerns. US equities lagged with weaker economic data offsetting positive profit results. US Federal Reserve comments during April suggested officials would look through near term economic weakness in considering monetary policy settings, which triggered an increase in long term bond yields and a dip in equity markets towards month end.

Fixed Interest Monthly Commentary - April 2015

Steepening NZ yield curve

The NZ 2 year swap rate ended little changed at 3.50%; whereas the NZ 10 year government yield rose 10 basis points, with global yields. The RBNZ shifted from a neutral to an official easing bias, acknowledging that they are not considering lifting interest rates, but would contemplate cutting rates if needed. The hurdle for any OCR movement remains high.

Investment Horizons - May 2015

There is no conspiracy theory in macroprudential policy

The RBNZ announced new macroprudential measures in its May Financial Stability Report, tightening mortgage conditions for Auckland property investors, and loosening them elsewhere. There is a theory circulating that the RBNZ announced these new measure to cool the Auckland housing market in May, for the specific purpose of being able to cut interest rates the next month in its June Monetary Policy Statement.

Latest Media

Investment News - 25 May 2015

T Rowe visit highlights emerging demand for global exposure

Ignoring emerging market BRIC benchmarks has paid off for the T Rowe Price Global Equity Growth Fund, according to Kendal Law, Harbour Asset Management sales director.

NZ Herald - 19 May 2015

Budget 2015: Measures ‘just stalling for time’

Moves to crackdown on property speculators have been welcomed as a step in the right direction by market commentators but one analyst says the changes may be too little too late. The raft of new measures announced on Sunday will include tax being applied to capital gains on property sold within two years of purchase, provided it is not the seller's primary residence, an inheritance or a sale for a matrimonial settlement.

Stuff - 18 May 2015

Banks at a turning point

OPINION: At the height of the GFC, in the eye of the storm, banking stocks were hardest hit. Since then, Australian bank shares have bounced back strongly, buoyed by strong earnings growth and the ability to pay generous dividends. However, the environment for banks is becoming more challenging, and perhaps less certain for equity investors.