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.
|13% Share Price Change||1.2% Contribution to Return|
|16% Share Price Change||0.5% Contribution to Return|
|15% Share Price Change||0.4% Contribution to Return|
|Alphabet Inc. Class A||9.6%|
|Facebook, Inc. Class A||5.7%|
|Alibaba Group Holding Ltd. Sponsored ADR||5.6%|
|Top 10 holdings||52.8%|
Senior Portfolio Manager
Senior Investment Analyst
Senior Investment Analyst
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.
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.
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