Ernst & Young NZ Absolute Return Index - progress...

Hi all.

Time for an NZARA Blog update. The Ernst & Young New Zealand Absolute Return Index continues to build on its successful history, finishing April 2011 at +4.372% year-to-date. The index is annualizing at over 16% per annum after a 2010 annual performance of +10.517%. The index currently has six managers representing a balance of global equity beta, commodities, trend-following and tail risk with a new manager being evaluated that will further diversify the asset class exposures. There is substantial interest coming through to develop the index into investable products. Although the index was designed to promote the competency of New Zealand investment managers, developing investable exposures to the index has always been encouraged. We will update you with further as it develops. Talk to you all soon.

Opalesque New Zealand Roundtable...

Hi. Opalesque's Matthias Knab recently came down to New Zealand to do the second Opalesque New Zealand Roundtable - the first one took place in 2008. Of course the balanced performance of the Ernst & Young New Zealand Absolute Return Index over the last couple of years came up in the conversation. For some insight into the thinking of New Zealand managers and investors - please go to:

http://www.opalesque.com/RT/RoundtableNZ2010.html

Thanks to all who took part.