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>Chorus (CNU) has had the upper hand in the urban broadband market over the last two years, with fibre gaining share from fixed wireless (FW).</li><li>This is likely to moderate as Spark NZ (SPK) and other mobile network operators (MNOs) push 5G FW.</li><li>We expect urban FW connections to return to growth, but with most new 5G connections converting from 4G, this will not transform the broadband market as 4G FW did.</li></ul>

Chorus (CNU) has had the upper hand in the urban broadband market over the last two years, with fibre gaining share from fixed wireless (FW).This is likely to moderate as Spark NZ (SPK) and other mobile network operators (MNOs) push 5G FW.We expect urban FW connections to return to growth, but with most new 5G connections converting from 4G, this will not transform the broadband market as 4G FW did.

Telecommunications Sector Can Fixed Wireless Fight Back?

Spk Corp

Telecommunications Sector Can Fixed Wireless Fight Back?