One of the country's largest investment managers posted modest gains in the June quarter.
AMP Capital Investors is not alone among money managers being battered by the downturn in global equity markets.
But the June quarter provided some respite, with some gains in returns for certain investment classes, including partially hedged glboal equities, property, and New Zealand fixed interest.
However New Zealand equities and global property stocks continued to decline.
And returns look grimmer on a yearly basis. Only property, New Zealand fixed interest and cash are up, with all the rest in the red, though five year returns for some of the beaten down funds still enjoy double digit growth.