Australian Growth Fund


Investments next door


as at 16/04/19
as at 31/03/2019
after fees and before tax
as at 31/03/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
inception date 15/06/2005

About the Fund

The Australian Growth Fund gives you access to invest in quality, growing Australian businesses. The Australian market is deeper and broader than in New Zealand, which provides numerous opportunities to invest in great businesses. Being such a broad market with so many investment opportunities means some companies are often poorly researched and not well understood by the market. The outcome of this is that high quality companies can trade below their inherent value. Our team making investment decisions are well informed and spend their time conducting their own research on this market.

Why Australian shares?

There is a lot of diversity in the products and services that companies in the Australian market offer. Because of the population size,the growth path for Australian companies can be smoother than in New Zealand. This is important as it provides these companies a broader growth opportunity domestically, before they need to consider the challenging step of exporting their business model to chase growth.

Growth of $10,000 invested in the Fund since inception

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Biggest contributors/detractors

as at 31 March 2019

Wisetech Global Ltd. »

20% Share Price Change 0.7% Contribution to Return

Ooh! Media »

12% Share Price Change 0.5% Contribution to Return

Seek Limited »

-3% Share Price Change -0.3% Contribution to Return

Sector Split

as at 31 March 2019

Sector Split

Biggest holdings

as at 31 March 2019

Seek Limited 7.0%
CSL Limited 6.9%
Carsales.Com Limited 6.8%
Cash 9.4%
Top 10 holdings 56.7%

Your portfolio team

Robbie Urquhart

Robbie Urquhart »

Senior Portfolio Manager

Terry Tolich

Terry Tolich »

Senior Investment Analyst

Delano Gallagher

Delano Gallagher »

Investment Analyst

Highlights and lowlights — March 2019

Your portfolios: Highlights and lowlights

The Australian portfolio was up 1.8% for the month, ahead of the Australian market.  Wisetech rose +20% in A$ following a successful capital raising in which it raised $300m in fresh equity.  This provides it with additional balance sheet flexibility to keep investing heavily in growing its earnings through organic and acquisitive investments.  Wisetech re-affirmed full year guidance during the month as well. The latest Outdoor Media Association data reinforced the positive structural trends of outdoor advertising growth, benefiting Ooh! Media which was up +11.9% in the month.

The banks lagged in the month, with CBA (-4.5%), WBC (-3.9%) in particular giving up a meaningful portion of their ‘Royal Commission’ relief rally in February.  Operating conditions are showing few signs of improving with soft house price and credit lending data, and the prospect of higher capital requirements in their NZ subsidiaries all continuing to weigh on performance.

Portfolio holdings

Portfolio holdings

In the portfolio holdings below you will find a diverse range of companies. Some of these will be brands you know well, and others may be new to you. The companies we invest in range from banks and fast food brands, to companies in the healthcare and tech sectors.

view portfolio holdings »

Fund resources

Fisher Funds Australian Growth Fund Updates

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