New Zealand Professional Investment Services Firm

Forsyth Barr

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.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Asset Plus’s (APL) operating earnings continue to improve, this time driven by its debt-free balance sheet following the settlement of Graham St mid-2H25.</li><li>With no debt on its balance sheet, APL has a cash buffer to fund fit-out, leasing incentives, and underwrite vacancy on any sale.</li><li>Auckland’s North Shore office market remains challenging, with declining rents and rising vacancies.</li></ul>

Asset Plus’s (APL) operating earnings continue to improve, this time driven by its debt-free balance sheet following the settlement of Graham St mid-2H25.With no debt on its balance sheet, APL has a cash buffer to fund fit-out, leasing incentives, and underwrite vacancy on any sale.Auckland’s North Shore office market remains challenging, with declining rents and rising vacancies.

Asset Plus

Asset Plus 1H26 Result—The Wait