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International Growth Fund

INTERNATIONAL
GROWTH FUND

A world of investment opportunities

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$2.3239
as at 15/08/19
7.8%
as at 31/07/2019
after fees and before tax
10.4%
as at 31/07/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$24,101
inception date 7/11/2007
Minimum
investment
$2,000

About the Fund

The Fisher Funds International Growth Fund is a hand-picked portfolio of 20-40 growth companies located predominantly in the US, Europe and Asia. We provide New Zealand investors access to a portfolio of high quality growth companies through a single tax efficient investment.

Our investment team travels around the world to identify businesses that have durable competitive advantages and significant growth opportunities. The portfolio includes both large well-recognised businesses (many of which are household names), and smaller companies with long growth runways. Regardless of the size of these businesses they are typically leaders in their markets. We employ a research heavy investment process, and invest only when we believe the market does not fully appreciate the long term potential of these businesses.

Why International shares

  • World of opportunitythe global investment opportunity set is vast and can provide New Zealand investors access to a range of businesses in industries not available on the local stock market. We invest in a range of industries including digital payments, online advertising, ecommerce and medical devices, which not only have attractive industry outlooks, but also provide valuable diversification for New Zealand investors.
  • Flexibility to invest wherever we find the best opportunities there are always attractive growth companies somewhere in the world, it is our job to find them.
  • Diversificationin addition to broad industry diversification, we invest in a wide range of countries globally, in both developed and emerging markets.
  • We look for qualitywe do not buy shares in new or unproven companies, but focus on companies with proven track records and sustainable advantages that help them outstrip competition.
Growth of $10,000 invested in the Fund since inception

View all resources for this fund »

Biggest contributors/detractors

as at 31 July 2019

Alphabet

13% Share Price Change 1.2% Contribution to Return

United Parcel Service (UPS) »

16% Share Price Change 0.5% Contribution to Return

Edwards Lifesciences »

15% Share Price Change 0.4% Contribution to Return

Sector Split

as at 31 July 2019

Sector Split

Biggest holdings

as at 31 July 2019

Alphabet Inc. Class A 9.6%
Facebook, Inc. Class A 5.7%
Alibaba Group Holding Ltd. Sponsored ADR 5.6%
Cash 2.9%
Top 10 holdings 52.8%

Your portfolio team

Ashley Gardyne

Ashley Gardyne »

Senior Portfolio Manager

Chris Waters

Chris Waters »

Senior Investment Analyst

Harry  Smith

Harry Smith »

Senior Investment Analyst


Highlights and lowlights — July 2019

Your portfolios: Highlights and lowlights

Global equity markets continued to grind higher in July and the US S&P 500 Index gained 1.3% for the month. The start of US reporting season and some great results from a handful of our portfolio companies resulted in strong performance for the International Growth Fund, which gained 3.7% for the month.

Alphabet, Google’s parent company, was one of the top performers in the portfolio after announcing financial results showing its digital advertising business continues to grow rapidly. The company delivered 22% revenue growth, which was faster than the market had expected and driven by rapid growth in mobile advertising and YouTube. The results saw Alphabet’s share price jump over 13% during the month.
UPS, the parcel delivery giant, also delivered stronger than expected results and saw its share price gain 16% in July. UPS is benefiting from strong growth in demand for ‘next day air’ delivery, driven by growing ecommerce volumes. Faster delivery times allow UPS to charge premium prices and this pick-up in growth allowed UPS to confirm it is on track to grow profits by 10%+ for the full year.


Portfolio holdings

Portfolio holdings

See a selection of the companies the International Growth Fund invests in below. You’ll find a wide variety of companies from technology giant Alphabet - the parent company of Google, discount retailer TJ Maxx through to Chinese app provider Tencent.

view portfolio holdings »


Fund resources

Fisher Funds International Growth Fund Updates

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