An investor confidence survey suggests investors continue to be upbeat, as people seek higher returns in a low interest rate environment.
ASB's latest quarterly investor confidence survey shows sentiment unchanged for the last three months of 2012 from the September quarter, when confidence was at a net 13 points - the most optimistic it had been since 2010.
However, the bank says that while investor confidence has remained steady overall, monthly figures can be volatile due to the effect of international events.
ASB says a lift in managed investments is a sign that investors are feeling more confident about putting their money into areas where there are higher potential yields instead of sticking with more secure options.
Rental property is viewed as being the asset most likely to provide the best returns with 19% of respondents - up one point on the September quarter.
Aucklanders were the most optimistic about returns on rental property.