I have to beg to differ, MET is arguably among the worst inflation hedge candidates of all the listed retirement operators. As Beagle has pointed out multiple times, it has a fixed fee for life policy. This might be good for attracting people and keeping the units full. It however is financially problematic if NZ were to get a serious case of inflation. There may be an out clause I'm not aware of but there weren't any if's or but's on the website link below.
https://www.metlifecare.co.nz/why-me...are/assurances
Resales are under 10% of existing unit numbers. This appears to indicate residents stay for over 10 years. In a low inflation environment the fees set ages ago are still sensible and cover current costs. Its probably not a big issue if the spike in inflation is to 2-3%, but what if we get 5 or 10% inflation for a few years. A 10% profit margin could reverse to 10-20%+ losses (that could then continue for many many years). This could destroy literally hundred's of millions of dollars relative to fees that increased with inflation.
But don't worry, we haven't had inflation in the last five years so it won't happen.