Page 2 - Taking Stock 22 Summer 2019

Features Contributing authors Bevan Graham NZ Managing Director & Chief Economist Greg Fleming Head of Investment Strategy Simon Steele Head of Global Equities ESG Investment Research Team Important note: While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, nancial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, nancial situation and needs. This document is solely for the use of the party to whom it is provided. A copy of the Product Disclosure Statement can be obtained from the AMP Capital New Zealand website www.ampcapital.com or by calling 0800 400 499. Taking Stock 2