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>The Commerce Commission (ComCom) released its draft decision for Chorus' (CNU) maximum allowable revenue (MAR) over its second regulatory period (RP2) covering CY25–CY28.</li><li>With the WACC and (draft) opex/capex known, the main unknown in the release is related to the treatment of depreciation and its expected wash-up from RP1.</li><li>Both were broadly in line with our (and we assume CNU's) expectations. </li></ul>

The Commerce Commission (ComCom) released its draft decision for Chorus' (CNU) maximum allowable revenue (MAR) over its second regulatory period (RP2) covering CY25–CY28.With the WACC and (draft) opex/capex known, the main unknown in the release is related to the treatment of depreciation and its expected wash-up from RP1.Both were broadly in line with our (and we assume CNU's) expectations. 

Chorus Ltd

Chorus - Regulatory Wheels Keep Turning