14 Feb 2012

Investor confidence remains strong

10:10 am on 14 February 2012

Investor confidence in New Zealand has remained strong through a period of upheaval in Europe and slow growth in the local economy.

The ASB Investor Confidence Index for the final quarter of 2011 shows investor confidence fell one point to a net 5%.

Jonathan Beale, ASB's head of private banking and wealth management, says while term deposits remain popular, shares and savings accounts are picking up.

He says investor confidence in Christchurch made a big leap upwards compared to the previous quarter.

Mr Beale says confidence had been low in the region for obvious reasons, but the big jump in the latest quarter from 1% to 11% suggests the recovery may be under way.

He says it can only be hoped confidence will increase further when the rebuild gets under way in Christchurch and there is an injection of money into the region.