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Australian Growth Fund

AUSTRALIAN
GROWTH FUND

Investments next door

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8.8%
as at 31/07/2021
after fees and before tax
30.1%
as at 31/07/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$39,243
inception date 15/06/2005
$5.8931
as at 04/08/21
Minimum
investment
$100 per month

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.

 

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

** S&P/ASX Small Industrials Index (Inception to 31/1/2012), S&P ASX 300 Industrials ex top 20 70% hedged to NZD (1/2/2012 - 31/3/2015), S&P/ASX 200 70% hedged (1/4/2015 to now)


Significant holdings

as at 31 July 2021

CSL Limited 8.40%
Carsales.Com Limited 7.10%
Commonwealth Bank of Australia 5.50%
Cash 8.40%

Biggest contributors/detractors

as at 31 July 2021

Seek Limited »

-12% Share Price Change -0.80% Contribution to Return

Carsales.Com Limited »

11% Share Price Change 0.60% Contribution to Return

Ansell Limited

-10% Share Price Change -0.40% Contribution to Return

Sector Split

as at 31 July 2021

Sector Split

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 »

 

Highlights and lowlights — June 2021

Your portfolios: Highlights and lowlights

The Australian Growth Fund returned +4.5% (net) in June.  This compares to a +2.6% return for the ASX 200 Index (70% hedged into NZ$).

Resmed’s (+20.8%) share price rose strongly as it stands to benefit from the problems encountered by its key competitor, Philips.  Philips announced a recall of a key product used to treat sleep disordered breathing because the foam Philips uses in the product degrades and potentially impacts patients’ health.  Resmed does not use the same foam in its devices.  It therefore stands to gain market share in the near term as Resmed’s products will likely fill the void in the market created by the Philips recall.

Having risen strongly over the previous few months, the share prices of three of our Australian banks gave back some of this in June, with NAB (-2.7%), Westpac (-2.3%) and ANZ (-2.0%) all falling in the month.  Gobally, financials had a softer month in equity markets.  The Australian banks were also impacted by negative sentiment affiliated with broadening COVID related lockdowns across NSW and other states.  The banks are well positioned to weather the negative impacts of these lockdowns.

Fund resources

Fisher Funds Australian Growth Fund Updates

Your portfolio team

Robbie Urquhart

Robbie Urquhart »

Senior Portfolio Manager

Terry Tolich

Terry Tolich »

Senior Investment Analyst

Delano Gallagher

Delano Gallagher »

Investment Analyst


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