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Level 2 Update

The Fisher Funds team is back to being primarily office based. Our team will be fully compliant with all the expectations set out by the Government, and if you are visiting us you can be assured that we will be operating a safe hygienic environment, and observing social distancing guidelines.

Income Fund

INCOME FUND

A conservative investment option

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4.7%
as at 31/08/2020
after fees and before tax
3.9%
as at 31/08/2020
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$15,380
inception date 18/04/2011
$1.1194
as at 18/09/20
Minimum
investment
$100 per month

About the Fund

The Income Fund gives our clients access to a diverse portfolio of fixed interest investments from around the globe. This fund combines our rigorous investment research with active portfolio management. As well as being an option to invest in this fund as part of a diversified investment strategy across our managed funds, this fund offers an alternative to bank deposits. Your money is invested throughout the world in a range of industries and sectors that are not available in Australasia, providing added diversification. Because this fund is designed to be a more conservative fund there are no investments in shares. You can also access your money at any time and there is a low minimum for investment.

Why choose the Income Fund

Cash and fixed interest plays an important stabilising role in any investment portfolio. Think of it as something of a financial umbrella to offer your portfolio protection in difficult market conditions. This is because these types of investments are expected to offer more stable, though lower, returns over the long term.

 

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

* New Zealand Government Stock Index (Inception to 31/10/2016), S&P/NZX 2 Year Swap Index (1/11/2016 to now)


Sector Split

as at 31 August 2020

Sector Split

Geographic Split

as at 31 August 2020

Sector Split

Portfolio holdings

The Fund holds a range of different investments, including corporate and Government bonds, as well as cash holdings. See below for more detail on these.

view portfolio holdings »

 

Highlights and lowlights — August 2020

Your portfolios: Highlights and lowlights

We highlighted last month that the recent underperformance of our holdings in NextDC bonds was somewhat perplexing, given the company’s extremely strong share price this year. This past month, right on cue, that underperformance began to be reversed. Our investment in the company is a high conviction position, so this was particularly pleasing to see. The business is benefiting from growth tailwinds related to data use and this positive trend was reconfirmed in the company’s recently reported annual results for 2020. We expect the business to refinance some of its existing debt over the coming year, possibly including our holdings, which makes them an attractive short-term investment opportunity.

 

A mild degree of profit-taking across the global credit markets saw a number of our corporate bond investments slightly detract from returns during August. One such investment was our holding in Nike Inc. bonds which, due to strong performance over prior months, led to a degree of selling in the market. In a similar vein, our holding in Verizon Communications Inc. also put a mild dent in last month’s returns. Verizon released strong second quarter results during the month and, like Nike Inc, we remain confident that further improvements in their operating performance are likely to help our investments perform well over the long-term. As such, should any market related weakness persist, we would most likely look to add to these positions.   

 

 

 


Fund resources

Fisher Funds Income Fund Updates

Your portfolio team

David McLeish

David McLeish »

Senior Portfolio Manager

Quin Casey

Quin Casey »

Senior Investment Anaylst

Matt Logan

Matt Logan »

Senior Investment Analyst

Lyle  McNee

Lyle McNee »

Investment Analyst


OUR MANAGED FUNDS

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