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Australian Growth Fund

AUSTRALIAN
GROWTH FUND

Investments next door

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8.7%
as at 30/04/2021
after fees and before tax
40.2%
as at 30/04/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$37,703
inception date 15/06/2005
$5.5836
as at 04/05/21
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 30 April 2021

CSL Limited 8.5%
Carsales.Com Limited 6.3%
Seek Limited 5.9%
Cash 4.2%

Biggest contributors/detractors

as at 30 April 2021

Carsales.Com Limited »

12% Share Price Change 0.6% Contribution to Return

Seek Limited »

9% Share Price Change 0.5% Contribution to Return

Credit Corp Group Limited

-11% Share Price Change -0.4% Contribution to Return

Sector Split

as at 30 April 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 — April 2021

Your portfolios: Highlights and lowlights

The Australian Growth Fund returned +3.6% in April.  This compares to a +3.15% return for the ASX 200 Index (70% hedged into NZ$).

 Audinate, the developer of leading audio networking technology rebounded +15.1% as it released a positive trading update in the month.  Audinate is experiencing a strong uplift in demand for its products from sound equipment customers as their supply chains begin improving after a COVID-impacted year.

Credit Corp’s share price fell -11.2% in the month despite re-confirming its profit guidance of 7-13% earnings growth for 2021.  The volumes of debt ledgers being sold by Australian and US lenders seems to be lower than the market was expecting.  This may act as a near term headwind for Credit Corp’s profit growth in 2022.  We expect Credit Corp’s key divisions to return to normal, pre-COVID levels over the next couple of years.

 

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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