Previously, RBNZ has not been shy about warning that it will take steps to cool the property market there if it overheats and some of New Zealand’s largest industrial firms, including some ENZL holdings, have previously complained about the ill effects of the country’s strong dollar. [New Zealand ETF Holdings Decry Strong Currency]
In the fourth quarter, Fletcher Buildings said the strong kiwi was proving to be a significant headwind and last year, industrial firms in New Zealand publicly decried the strong currency. Fletcher is ENZL’s largest holding with a weight of 14.3%. The materials and industrial sectors combine for 32% of the $163.8 million ETF’s weight.
iShares MSCI New Zealand Capped ETF
