26 Feb 2010

New Zealanders viewed as lazy investors

6:05 am on 26 February 2010

An investment analyst describes New Zealanders as "lazy" investors, who fail to follow basic rules.

Last year, $6 billion was invested in shares and bonds, in search of higher returns as finance companies collapsed and bank deposit rates fell.

But an from Milford Asset Management investment analyst Brian Gaynor, says too many people are investing blindly, without understanding the product.

When Fonterra went to the market last year, he says investors rushed forward with $800 million before the company issued an investment statement or prospectus.

He says too few people are reading the fine print.

The Shareholders Association says investing should be added to the school curriculum.