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Update - 28 February 2021

Given the latest COVID-19 update our whole team are now working from home. We’ve worked successfully this way before and know our organisation remains fully functional. Our Client Services team are available to answer any questions you have, although you may reach them faster by email. You can also check the balance of your account and make changes to your investment, such as updating your tax rate through Fisher Funds Online. We hope you and your families stay safe.

Income Fund

INCOME FUND

A conservative investment option

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4.5%
as at 31/01/2021
after fees and before tax
3.5%
as at 31/01/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$15,452
inception date 18/04/2011
$1.1175
as at 24/02/21
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 January 2021

Sector Split

Geographic Split

as at 31 January 2021

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 —January 2021

Your portfolios: Highlights and lowlights

A highlight in January was the portfolio’s investment into Netflix Inc. The company reported another solid set of financial results for the final quarter of 2020 and management stated the need for external capital to fund ongoing content investment has abated due to growing free cash flow generation. As a result, the company’s stock price and bonds reacted positively with the portfolio’s Netflix bond delivering a total return of circa 4.2% (in local currency terms) during the month. Another portfolio highlight was Ryman Healthcare. Back in December, the company issued its inaugural secured bond which we invested in. This transaction looks to have been well received by investors with the investment appreciating in price over the month reflecting robust ongoing demand.

Growing optimism surrounding both the economic recovery ahead and the likelihood of inflation rising continues to weigh on high-grade bond prices (yields are rising). We have been on guard against such an outcome since late September, when our indicators began suggesting the global economy was shifting from repair in recovery. To protect the portfolio from the adverse impact of a cyclical rise in bond yields, we have been reducing its sensitivity to interest rate movements over the past few months and will likely maintain this tactical approach until the economic outlook looks to be peaking.

 


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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