The end of the third quarter today is shaping up as a positive one for equity investors, particularly when currency movements are accounted for, Craigs Investment Partners broker Peter McIntyre says.
The NZX50 was up 2.2% for the three months ended September but offshore markets should show even stronger gains in New Zealand terms.
United States shares were up 1.2% in the quarter but the 10.2% fall in the dollar saw the return increase to 12.6%.
Returns from Australian shares were flat so far but were tracking at 3.3% for the quarter in New Zealand dollar terms.
For the quarter, the best NZX50 performers were Meridian Energy (up 24.9%), Mighty River Power (19.6%) and Diligent (19.5%).
The worst performers were Oceana Gold (down 22.4%), Xero (down 20.4%) and Summerset (down 15.8%).
Of the top ASX shares, Toll (up 14.7%) was the best performer followed by Lend Lease (13.2%) and Ramsay Health Care (11.9%).
The worst were Fortescue (down 16.6%) and James Hardie (down 13.9%).
Mr McIntyre said with the regulatory risks fading substantially following the election, it was not surprising to see the electricity companies perform ''exceptionally well'' last week.
''They still look good value from a yield perspective, with the average gross yield of 8.6% well above the sub-6% NZX50 average.''
Despite having performed well both in the lead-up to the election, as well as in the immediate wake of the result, there was still some medium-term upside on offer, especially on a total return basis, he said.
