After months of work we have finally launched our Ernst & Young New Zealand Absolute Return Index...which is compiled by Ernst & Young on a monthly basis. (Minter Ellison put together the docs). It is pretty exciting to see New Zealand managers outperform their peers offshore, a manifestation I believe of the innovation and competence of the group. For September 2008 the index was up >3% while much of the industry was down...-6% is a commonly cited number. N.B. Ernst & Young does not accept responsibility for the performance of the index, nor for the veracity of the performance information presented by the constituent managers.
More information is available at http://www.nzara.org/