Blechnum NZ Fern.
Blechnum novae-zelandiae, commonly known as palm-leaf fern or kiokio, is a species of fern found in New Zealand. It can often be found growing in clay soil on embankments and roadsides
The red colouring in the leaves is a chemical called anthocyanin. It lives in soft young leaves and is like a sunscreen for plants! It helps with photosynthesis, where the plant uses the sun’s energy to feed itself.
As the leaves get older and harden up, they will replace the anthocyanin with chlorophyll which is green and better at using sunshine. Original public domain image from Flickr