InPrivate

Winter is well and truly here – so it’s appropriate that our latest edition is full of layers, starting with our quarterly investment update. 

Tariff shocks, oil price spikes, and the return of inflation: we unpack the global events that shaped markets in Q2. It’s a snapshot of how volatility played out and what it could mean for your portfolio. 

You’ll find an explainer on portable alpha, an investment approach that’s now part of our international equities strategy. If you've been wondering why a bond manager would be involved in our equities strategy, this article breaks it down in simple terms. 

Closer to home, many Kiwis are surprised to learn that modern slavery happens in Aotearoa. We examine the issue, including what investors should consider. 

Our latest Property Focus takes a mid-year look at New Zealand’s housing market. With the market remaining flat for now, we explore what might spark a recovery in 2026. 

This season, I want to take a moment to highlight a growing concern: investment scams and fraud. With increasingly sophisticated tactics targeting investors, we encourage you to stay vigilant. If something doesn’t feel right, please speak to your Private Banker or adviser before taking action. Our website has some useful information to help you stay alert and protect yourself from scams and fraud.

Finally, as proud supporters of the Cancer Society for 35 years, we invite you to join us this Daffodil Day in supporting the 1 in 3 Kiwis affected by cancer. Every donation, every daffodil helps the Cancer Society provide crucial care and services to those who need it most. 

Thank you for your continued trust in ANZ Private. We hope you find this edition insightful - and that you’re keeping warm and well, despite the weather.

Glenn Stevenson
General Manager, ANZ Private