New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Inflation three ways; CNU one of few beneficiaries of higher inflation, but there are a lot of moving parts</li><li>Consensus (and us) have opted for the minimum dividend path — a deviation could be a clear positive</li><li>Boxed in by regulatory framework — value centered around long term technology risk</li></ul>

Inflation three ways; CNU one of few beneficiaries of higher inflation, but there are a lot of moving partsConsensus (and us) have opted for the minimum dividend path — a deviation could be a clear positiveBoxed in by regulatory framework — value centered around long term technology risk

Chorus: FY22 Preview — An Inflation Beneficiary

Chorus Ltd

Chorus: FY22 Preview — An Inflation Beneficiary