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Welcome to Gareth Morgan Investments
We are a boutique investment management firm caring for individual client portfolios. Wealth protection and enhancement are our priorities. If you'd like to find out more, please select one of the following links:
Our Performance
The normal caveat is that past performance is no indicator of what happens next. We subscribe to that view.

Our Performance versus Market over the last 18 years Our past performance is provided on the links below for those who like to know it anyway. We believe that we've beaten benchmarks consistently due to our diligence in keeping costs down and ensuring our portfolios are tax-efficient. We are constantly challenging our providers and ourselves to cut costs.


GMI Articles
The Big Game III – Product churn, zombie funds and the renewal cycle
13 November 2006
Gareth Morgan continues his investigation of investment rorts. Why do life insurance companies have so many savings products and unit trusts in the market, most of them without much money? Why do they always seem to be closing funds to new money and then some years later wind them up? Didn't you know that for many fund management companies the deliberate obsolescence of a fund is what they plan for? The game is to shift as much of your savings into fund reserves as they can, shut the fund down and then keep the reserves for themselves. Charming ethics.
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Big Game V: The Tactics - how the insurance multinationals get away with it
30 November 2006
Gareth Morgan continues his series on investment rorts . This article focuses on how the life insurance companies fend off any queries from the public about the care they're not taking with their savings. The tactics are to deny and if an objector is persistent, to burn them off with litigation - even to the extent of creating vexatious litigation to frighten those simply trying to protect their own property. Bullying of the small guy is meat and cheese to these corporates.
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The Big Game IV - Inside the Actuarial Snakepit
21 November 2006
Gareth Morgan continues his investigation of investment rorts . At the heart of the problems that life insurance companies have brought to the savings industry is their practice of using reserve funds to separate savers from their money. These companies use actuaries on their staff to provide a thin veil of propriety to the "freeing" of these reserves from the ownership of the savers, making them available ultimately to be owned by the insurance company. The ethical deficit of the so called 'self-regulated' actuarial profession is central to this rot.
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The Big Game II
7 November 2006
Gareth Morgan continues his investigation of investment rorts. Creation and then manipulation of reserves is a favourite device that funds deploy to get your money. Once your money is set aside in reserves its ownership becomes moot. One thing's for sure you no longer have an unchallenged claim on it so don't expect it back. This article describes the devices the Funds use to move your savings into its reserves.
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Beware the fox in the henhouse
5 November 2004
In the third of his series on the poor deal investors get from the products and services of the New Zealand financial industry, economist and investment portfolio manager Dr Gareth Morgan illustrates how long this market has been dysfunctional and looks at policy responses required to fix it.
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The great New Zealand savings rort
5 November 2004
In the first of three articles on the results from a survey of New Zealand’s investment providers and products, economist and investment portfolio manager Dr Gareth Morgan considers why the Consumers’ Institute discovered that investors typically receive around a third of the returns their invested funds earn. In subsequent articles Dr Morgan investigates the reasons for the market failure that perpetuates these losses, what regulators are doing about it, and why it’s irrational for the New Zealand government to force even more of the public’s savings into the arms of this high-cost, poor-performing industry.
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Missive August 2008
7 August 2008
Missive inside! Click away!More
Missive July 2008
7 July 2008
Missive inside! Click away!More