A new tool for the Kiwi DIY share investor has been launched to provide an independent online service that calculates true share returns – and it’s been given the thumbs up by NZX and business leaders.
Sharesight (www.sharesight.co.nz) is share portfolio management tool developed in Wellington for the New Zealand and Australian markets. It also automatically produces the information needed to fulfil accounting and IRD tax requirements.
NZX’s head of information products Columba Cryan said, “In New Zealand, the share market is an under-rated investment choice for private investors. What we need are more tools that make it an easy and transparent option. Sharesight’s strength is its use of complex currency, dividends and tax data to enable investors to simply and accurately calculate returns and related tax exposure.”
Internet entrepreneur and Xero chief executive Rod Drury said the site was an impressive offering: “Sharesight is looking very slick. I’ve been looking for Web 2.0 style portfolio manager and this looks like it will hit the spot.”
Sharesight managing director Tony Ryburn says the website was born out of personal frustration. “I wanted to manage my own share portfolio but I found preparing data for my tax returns and the accounts of my family trust was time-consuming nuisance.”
He says Sharesight solves this problem by providing up-to-date information on investments, taking into account currency fluctuations, dividends, splits, tax credits and more.
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