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The Southern Portfolio

Investing from the bottom of the world.

Free articles for New Zealand investors. Written for the NZ context, not translated from somewhere else.

Latest Issue 10 Currency

Your overseas portfolio just got a quiet boost. Here's what's actually happening.

The NZD has fallen 7% against the USD in the past year. For unhedged NZ investors, that's a meaningful tailwind most people haven't noticed, haven't planned for, and won't necessarily keep.

9 min read · July 2026 Read this issue →
10Issues published
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Recent issues
09
Property10 min read
Property and portfolio: how to think about residential property as part of your total financial picture
Most NZ households have the majority of their net worth in a single residential property. How to think about the concentration risk and when to invest alongside property.
08
Markets9 min read
What the current NZ economic environment means for your portfolio
OCR at 2.25% and heading higher, inflation back in band, recovery real but uneven. What the current environment means for each asset class.
07
Currency10 min read
Currency strategy for NZ investors: hedged vs unhedged and how to make a deliberate choice
The maths on hedging costs over 20 and 30 years, the case for and against hedging, and a decision framework by investment horizon.
Earlier issues
06
KiwiSaver strategy: fund selection, active vs passive, and how it fits your broader portfolio
KiwiSaver
05
Portfolio construction for NZ investors: what to actually put in it
Portfolio
04
All six NZ investment platforms compared: the table, the trade-offs, and which combination makes sense
Platforms
03
The direct investing platforms: Sharesies, Hatch, Stake and Interactive Brokers
Platforms
02
The NZ investor's guide to PIE fund platforms: InvestNow and Kernel
Platforms
★
Budget 2026 just changed FIF for NZ investors. Here is what you need to know.
Bulletin
01
Why investing from NZ is harder than anyone admits
Foundations

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