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

Thematic (Sector/Industry)

New zealand Healthcare equipment and services / Thematic (Sector/Industry)

<ul><li>Improving care profitability was a key theme of the May 2026 reporting season for NZ’s listed retirement and aged care sector.</li><li>Looking ahead to FY27, we expect a further meaningful uplift in care profitability for RYM and OCA, supported by a ~+4% increase in care funding from the NZ Government and ongoing occupancy tailwinds.</li><li>Despite improving earnings trends overall, returns on aged care assets in NZ remain well below the cost of capital for operators.</li></ul>

Improving care profitability was a key theme of the May 2026 reporting season for NZ’s listed retirement and aged care sector.Looking ahead to FY27, we expect a further meaningful uplift in care profitability for RYM and OCA, supported by a ~+4% increase in care funding from the NZ Government and ongoing occupancy tailwinds.Despite improving earnings trends overall, returns on aged care assets in NZ remain well below the cost of capital for operators.

Retirement And Aged Care Sector Care Vital Signs Improving