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.
|Fisher & Paykel Healthcare Corporation Limited||15.6%|
|a2 Milk Company Ltd.||12.4%|
|17% Share Price Change||2.4% Contribution to Return|
Summerset Group Holdings Limited
|16% Share Price Change||1.0% Contribution to Return|
|7% Share Price Change||0.8% Contribution to Return|
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.
In October the NZ Growth Fund returned +5.5%, outperforming the local market at +2.9%(S&P/NZX50G).
We attended Mainfreight’s (+17%) investor day and the opening of its new Mount Maunganui cross dock. The company delivered an impressive update for the first 26 weeks of the fiscal year. Sales continue to be up around +5% in constant currency terms and profit before tax growth accelerated to +23% versus +20% at the last update. Australia continues to be the key success story, with market share gains combining with improved utilisation and control of costs driving strong profit growth.
After an exceptionally strong bounce in August (+43%), Vista (-8%) has drifted backwards since as the re-acceleration of COVID-19 cases has impacted studio content releases and cinema re-openings.
Is there anything we
can help you with?