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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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$9.8601
as at 16/04/19
12.2%
as at 31/03/2019
after fees and before tax
19.4%
as at 31/03/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$108,670
inception date 10/08/1998
Minimum
investment
$2,000

About the Fund

The Fisher Funds New Zealand Growth Fund is our flagship fund and was launched in August 1998. The fund aims to produce attractive long term returns by investing in quality companies chosen by our Investment Team. Typically the fund will be invested in 15 to 20 companies in at any one time. Often a company in the fund will have been chosen because it offers a unique product or service, has a dominant market position or brand, or operates in a fast growing sector.

Why New Zealand shares

  • Easy access to key people and information — Investing in our own backyard allows us to know our companies well, understand the economic and political environment in which they operate, and structure our portfolios to capitalise on the best growth opportunities available in NZ. 
  • Familiarity — One of the things that appeals to our clients about investing in New Zealand is familiarity. Many of the companies in the Fund are household names and chances are you have used their product/services at some point.
Growth of $10,000 invested in the Fund since inception

View all resources for this fund »

Biggest contributors/detractors

as at 31 March 2019

Mainfreight Limited »

10% Share Price Change 0.9% Contribution to Return

Fisher & Paykel Healthcare »

7% Share Price Change 0.9% Contribution to Return

Ryman Healthcare »

11% Share Price Change 0.6% Contribution to Return

Sector Split

as at 31 March 2019

Sector Split

Biggest holdings

as at 31 March 2019

Fisher & Paykel Healthcare Corporation Limited 13.2%
a2 Milk Company Ltd. 12.7%
Mainfreight Limited 9.9%
Cash 3.4%
Top 10 holdings 78.2%

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Zoie Regan

Zoie Regan »

Senior Investment Analyst

Matt Peek

Matt Peek »

Investment Analyst


Highlights and lowlights — March 2019

Your portfolios: Highlights and lowlights

The big news in New Zealand markets in March was the ten year Government bond rate falling sharply, to near lifetime lows. This supported the strong performance of yield stocks such as telcos and electricity companies which are not our favoured sectors given the lower growth profiles. It was not surprising the N ZGrowth Fund was modestly behind the NZ market, albeit with a healthy return of 4.9% (the NZX50 was +5.9%)

In portfolio news Synlait, processing partner of The a2 Milk Company released its first half 2019 result. This was meaningful as its maintenance of full-year guidance highlights a strong second half run-rate which reconciles with a2's sales growth expectations. We continue to believe a2 still has strong growth prospects and have added to the position following the share price weakness in March the wake of its strong first half result in February.

We made a significant change by exiting our position in Michael Hill. The investment case has shifted and the longer term prospects for the business are increasingly challenged.  Positively the recent recovery in share price from depressed levels provided an opportunity to exit at an attractive price.

Portfolio holdings

Portfolio holdings

In the portfolio holdings below you will find a range of well loved New Zealand companies from logistics providers like Mainfreight through to dairy pioneer The a2 Milk Company.

view portfolio holdings »


Fund resources

Fisher Funds New Zealand Growth Fund Updates

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