The Capital Markets 2029 Steering Committee has released its vision and growth agenda to promote stronger capital markets for all New Zealanders.
roader participation by New Zealanders, greater access to growth capital for local enterprises, and more choices for investors drive the recommendations in the Capital Markets 2029 report.
The report details 42 recommendations to unlock stronger capital markets for all New Zealanders of which 18 recommendations have been prioritised. The recommendations canvas topics including KiwiSaver, regulation, public sector assets and infrastructure, promotion of public markets, tax, new products and the impact of technology.
The framework provided by the 2009 Capital Markets Taskforce defines capital markets as effectively sitting between investors and businesses that use investors’ savings. The term should be read in this context unless noted otherwise.
The report’s recommendations are designed to improve capital markets in one or more of the following ways:
- Raise the level of individual participation and engagement in capital markets
- Offer more choice of investment for individuals, both within KiwiSaver and more generally
- Grow the base of companies that can access the public capital market, reduce the barriers to listing where possible and increase motivation for public companies to remain listed
- Grow the private capital ecosystem in New Zealand
- Use the capital markets to fund infrastructure in New Zealand
- Create greater wealth for New Zealanders.
Steering committee chair Martin Stearne said some of the changes recommended to KiwiSaver, for example, are focused on stimulating more New Zealanders to become engaged investors.
“Many of the recommendations are also designed to create larger pools of capital for funding New Zealand enterprises, including infrastructure, via public or private markets.
“Additionally, the recommendations recognise the growing role of private markets, and therefore seek to provide greater access to them for more New Zealanders,” said Mr Stearne.