New Zealand Funds Management's (NZFM) share hedging strategy has proven its worth over the course of the global financial crisis, according to a new paper published by the group, and should guard client portfolios at a time when markets appear over-valued.

NZ Funds says kiwi's can now have listed property exposure with managed share market risk - a first for the New Zealand investment industry.

New Zealand Funds Management says it is remaining cautious despite the share market's recent rally, however the opportunity to prosper from active management has never been higher.