Arcus hopes property falls

Funds manager Arcus Investment Management is hoping a confluence of events is about to start convincing New Zealanders to stop putting so much money into residential property.

Chief investment officer Peter Verhaart said the local funds industry was expecting a boost from tax changes that rewarded those who saved, and from the introduction of KiwiSaver.

Despite that, he expected the move away from residential property as an investment was still a long way off, as people had a distrust of shares and full faith in property.