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Please note there is an IRD system closure from 21st - 27th October that will delay full KiwiSaver withdrawals and transfers in to, or out from, all KiwiSaver providers.

For urgent withdrawals, please contact our team regarding a partial option.

Australian Growth Fund

AUSTRALIAN
GROWTH FUND

Investments next door

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9.2%
as at 30/09/2021
after fees and before tax
34.0%
as at 30/09/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$42,037
inception date 15/06/2005
$6.1599
as at 26/10/2021
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 30 September 2021

CSL Limited 8.1%
Wisetech Global Ltd. 7.8%
Carsales.Com Limited 6.7%
Cash 3.7%

Biggest contributors/detractors

as at 30 September 2021

Wisetech Global Ltd. »

11% Share Price Change 0.8% Contribution to Return

CSL Limited »

-5% Share Price Change -0.4% Contribution to Return

Nextdc Limited

-9% Share Price Change -0.4% Contribution to Return

Sector Split

as at 30 September 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 — September 2021

Your portfolios: Highlights and lowlights

The Australian Growth Fund returned -0.7% in September. This compares to a -1.6% return for the ASX 200 Index (70% hedged into NZ$).

Wisetech’s (+11% in A$) share price kept rising following its outstanding financial result in August. In addition to growing core revenue +25% in the year, management have done a great job controlling the growth in costs. This resulted in pre-tax profits growing +63% over the year, substantially faster than revenues. With Wisetech expecting profitability to improve further in the next year, this was well received by the market.

Limeade (-21%) lost a key customer, an airline, during the month as this airline sought to restore the business to profitability. While disappointing, Limeade is in discussions with a broad list of potential customers. We expect to see it convert a number of these to fee paying customers in the next few months.

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


OUR MANAGED FUNDS

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