Kina has good investments, says Yates

LOW returns to the Kina Asset Management Limited’s investments in Credit Corporation and City Pharmacy Limited were offset by  strong performance in other investments last year – including Bank South Pacific and ANZ Bank.
Kina Group chief executive officer Syd Yates told The National that KAML had a good variety of investments that allowed for consistent overall returns despite the non-performance of particular sectors in the country.
“You will notice that we invest in a range of assets and across all different industries. And I think the benefit of having a balanced approach is (that) not all industries perform well at the same time,” Yates said.  “You will notice that the banking sector has had a good return and other sectors have not been doing well unfortunately.
“That’s where you hear of the saying: Don’t put all your eggs into one basket. When it’s great it’s great and when it’s down you suffer. a
“So what we tried to do is have a balanced return and make sure we have a spread across all categories and asset classes so it evens out any negative returns we have for any of our negative stocks. Not all stocks can be up all the time.”
KAML recorded the highest investment returns last year from Bank South Pacific with 31.7 per cent.