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>Single operator model accretive to earnings: AIA has selected Lagardère Travel Retail SAS (trading as Aelia) as its main duty-free retailer, which will shift to a single operator model in September 2023</li><li>ComCom no longer a headwind: In 2007 AIA awarded a sole duty free concession to DFS Galleria</li><li>Seven year retail income recovery: The post COVID-19 recovery in AIA's retail income will be gradual over the next few years</li></ul>

Single operator model accretive to earnings: AIA has selected Lagardère Travel Retail SAS (trading as Aelia) as its main duty-free retailer, which will shift to a single operator model in September 2023ComCom no longer a headwind: In 2007 AIA awarded a sole duty free concession to DFS GalleriaSeven year retail income recovery: The post COVID-19 recovery in AIA's retail income will be gradual over the next few years

Auckland Airport: Duty Free Finally Flying Solo

Auckland Intl Airport

Auckland Airport: Duty Free Finally Flying Solo