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>Investore (IPL) announced the sale of two regional supermarket assets and the purchase of Bunnings Westgate.</li><li>We view this transaction as positive, given: (1) the two assets sales were in line with current book values, (2) the portfolio is improved by swapping two older regional assets, with higher capex requirements, for a well-located new build with a more attractive lease structure, and (3) all with a minor impact on earnings. </li><li>The transaction does little to appease balance sheet pressure, but we are comfortable with higher gearing given the stage of the cycle. </li></ul>

Investore (IPL) announced the sale of two regional supermarket assets and the purchase of Bunnings Westgate.We view this transaction as positive, given: (1) the two assets sales were in line with current book values, (2) the portfolio is improved by swapping two older regional assets, with higher capex requirements, for a well-located new build with a more attractive lease structure, and (3) all with a minor impact on earnings. The transaction does little to appease balance sheet pressure, but we are comfortable with higher gearing given the stage of the cycle. 

Investore Property

Investore - A Bit of DIY