New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Thematic (Sector/Industry)

<div><div><div><div><ul><li>NZ's listed technology sector outperformed the broader market by +9% in the December 2024 quarter and +32% during 2024.</li><li>Global technology markets also enjoyed a buoyant 2024, underpinned by investor optimism around the benefits of artificial intelligence (AI).</li><li>Looking ahead, we explore four significant themes poised to define the technology industry in 2025. </li></ul></div></div></div></div>

NZ's listed technology sector outperformed the broader market by +9% in the December 2024 quarter and +32% during 2024.Global technology markets also enjoyed a buoyant 2024, underpinned by investor optimism around the benefits of artificial intelligence (AI).Looking ahead, we explore four significant themes poised to define the technology industry in 2025. 

Forsyth Barr Technology Digest Edition 9 — Agentic, AGI and Quantum Worlds

<ul><li>The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.</li><li>We focus on three industry segments: Software &amp; Services, Technology hardware, and Semiconductors and equipment.</li><li>We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance, and show relevant ratios.</li></ul>

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.We focus on three industry segments: Software &amp; Services, Technology hardware, and Semiconductors and equipment.We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance, and show relevant ratios.

Forsyth Barr Technology Digest - Edition 5 — Layoffs Resume

<ul><li>The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.</li><li>We focus on three industry segments: Software &amp; Services, Technology hardware and Semiconductors and equipment.</li><li>We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance and show relevant ratios.</li></ul>

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.We focus on three industry segments: Software &amp; Services, Technology hardware and Semiconductors and equipment.We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance and show relevant ratios.

Forsyth Barr Technology Digest Edition 4 — Geo-Political Tensions Intensify

Equity Bottom-Up

<ul><li>The December 2025 quarter saw five of the six tech names under our coverage report results.</li><li>During the period, we upgraded Gentrack (GTK) to OUTPERFORM despite a somewhat underwhelming FY25 result, with our thesis supported by the announcement of a strong potential contract pipeline and continued platform progress.</li><li>Over the quarter, the S&amp;P/NZX IT Index fell ~-17%, materially underperforming the NZX50, which rose ~+2%.</li></ul>

The December 2025 quarter saw five of the six tech names under our coverage report results.During the period, we upgraded Gentrack (GTK) to OUTPERFORM despite a somewhat underwhelming FY25 result, with our thesis supported by the announcement of a strong potential contract pipeline and continued platform progress.Over the quarter, the S&amp;P/NZX IT Index fell ~-17%, materially underperforming the NZX50, which rose ~+2%.

Forsyth Barr Technology Digest Edition 13—Tech Falls Out Of Sync With Markets

Vista Group International / Equity Bottom-Up

<ul><li>Vista Group’s (VGL) 1H25 result was broadly in line with our expectations.</li><li>Revenue rose +11% to NZ$77m, underpinned by increased Vista Cloud adoption, stronger client GTV, and a modest FX tailwind.</li><li>VGL also provided a substantive update on embedded payments—confirming client validation work and a preferred unnamed global processor, with launch targeted for early FY26.</li></ul>

Vista Group’s (VGL) 1H25 result was broadly in line with our expectations.Revenue rose +11% to NZ$77m, underpinned by increased Vista Cloud adoption, stronger client GTV, and a modest FX tailwind.VGL also provided a substantive update on embedded payments—confirming client validation work and a preferred unnamed global processor, with launch targeted for early FY26.

Vista Group 1H25—Costs Recut, Payments In Production

New Zealand

Vista Group International Limited provides film industry software. The Company offers cinema, distribution and data analytical software to the global film industry.

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Vista Group International (VGL NZ)

Forsyth Barr Technology Digest Edition 9 — Agentic, AGI and Quantum Worlds

Global technology markets also enjoyed a buoyant 2024, underpinned by investor optimism around the benefits of artificial intelligence (AI).

Forsyth Barr

Forsyth Barr Technology Digest - Edition 5 — Layoffs Resume

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and...

Forsyth Barr

Forsyth Barr Technology Digest Edition 4 — Geo-Political Tensions Intensify

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and...

Forsyth Barr

Forsyth Barr Technology Digest Edition 13—Tech Falls Out Of Sync With Markets

The December 2025 quarter saw five of the six tech names under our coverage report results.During the period, we upgraded Gentrack (GTK) to...

Forsyth Barr

Vista Group 1H25—Costs Recut, Payments In Production

VGL also provided a substantive update on embedded payments—confirming client validation work and a preferred unnamed global processor, with launch...

Forsyth Barr

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