AMP Henderson lifts Tranz Rail stake

Fund manager AMP Henderson Global Investors has raised its stake in Tranz Rail to 6.53 per cent from 4.98 per cent with share purchases on Wednesday.

"It is basically a value play," said AMP Henderson's Nat Vallabh. "The company continues to have a financial liquidity problem in the near term but we believe through asset sales [it] will ride through that."