AMP Capital Investors says shares might not seem as cheap as they once were, they remain an attractive option.
The investment company's balanced fund made returns of almost 17% for the year to March, while it's conservative fund returned 9% and it's growth fund 24%.
AMP's Capital Investors' head of investment strategy, Jason Wong, says share markets have rebounded to new highs since the low point last March.
Equity markets tend to do best when growth is recovering and interest rates are low, he says, and at present, inflation pressures are weak globally, meaning interest rates are likely to remain low until late in the year.
Mr Wong says that while the global economy is recovering, risks remain, including the possiblity of the Chinese economy overheating and leading to a boom-bust cycle, and Greece's massive indebtedness.
Meanwhile, the company's head of New Zealand equities, Guy Elliffe says merger and acquisition activity is likely to pick up among the corporate sector this year.
Mr Elliffe says he's been surprised by the light volumes of capital raisings this year, but that's probably been because of questions about pricing.
