Kiwi investments in US stocks hit record USD $67.1 billion high

New data from the US Treasury shows New Zealanders' investments in US stocks and bonds have reached close to their highest recorded levels, with holdings totalling USD $67.1 billion as of March 2025.

This amount is more than double the figure from five years ago, reflecting notable growth in international investment by New Zealand residents. According to the US Treasury figures, shares in listed companies make up the largest segment, with USD $51.3 billion invested in US stocks and exchange-traded funds (ETFs), representing a 152% increase compared with March 2020. US government and corporate bonds comprise a further USD $14.8 billion of Kiwi holdings.

Michael McCarthy, Australia and New Zealand CEO of the share-trading platform moomoo, said these figures underline the scale of diversification by Kiwi investors into international markets. He explained that in recent years, New Zealand's relatively low interest rates have spurred savers and investors to look overseas, particularly towards US equities and technology stocks, which have performed well in the period following the COVID-19 pandemic.

"We have seen that the relatively strong Kiwi dollar in the earlier post-pandemic period made US investments more attractive and affordable for Kiwi investors," McCarthy said. "There was an awareness that exposure to US assets could provide a hedge against domestic inflation and NZD depreciation, especially relevant given recent macroeconomic volatility.

"We have also seen large institutional investors, such as the NZ Super Fund and KiwiSaver providers, steadily increase their exposure to global equities to diversify risk and chase international growth," he said.

Recent growth in local demand for retail international investment has contributed to the launch of moomoo's trading platform in New Zealand, according to McCarthy. He said the platform seeks to lower the barriers to entry for individual investors by offering what the company describes as the lowest fees locally for unlimited US trades, as well as providing access to a broad range of US stocks and ETFs.

Founded in Silicon Valley in 2018, moomoo currently has more than 25 million users in markets including the US, Singapore, Australia, Japan, Canada, Hong Kong, and Malaysia. Its launch in New Zealand follows the company's entry into the broader trans-Tasman market, where it reported the highest number of downloads among online broker apps in its first two years.

With the app now available in New Zealand, local traders are able to access more than 22,000 stocks and ETFs listed in the US, Australia, and Hong Kong, including over 15,000 US stocks and ETFs, with a fee of USD $0.99 (NZD $1.66) per trade.

According to McCarthy, the platform has been developed to suit both newcomers and experienced investors. "One of the unique features of moomoo is its ability to enable 'social investing', whereby the online community of global users are able to support and learn from one another, including sharing investing ideas and insights on stocks," he said.

"This allows everyone from beginners to seasoned investors to learn investment strategies and share this experience with other users around the world. We also offer structured learning experiences and additional educational resources to assist users on their investment journey," McCarthy added.

He explained that such resources are designed to help investors examine market trends, identify opportunities, and make informed choices that match their risk tolerance and financial goals. The moomoo platform additionally offers 24-hour trading on US markets each trading day, aiming to remove timing obstacles so that New Zealand users can act on opportunities as they arise.

"The US Treasury data shows New Zealand has a strong investing culture, and we see growing demand for more sophisticated tools that empower retail investors to navigate global markets with confidence," McCarthy said.

"We are able to provide real-time market data, AI-powered analytics, advanced charting tools and curated news from financial media outlets. These features help reduce the complexity of financial markets into intuitive, actionable insights that are integrated into the platform's interface."

As part of the New Zealand launch, McCarthy stated that moomoo is offering new users commission-free trading on Australian and US stocks for their first 30 days, as well as free reward stocks for qualifying deposits.

He said that with the moomoo app's launch in the country, New Zealand investors now have access to options trading and dividend reinvestment plans for US stocks to meet the diverse investment requirements of local users.