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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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12.6%
as at 30/06/2020
after fees and before tax
16.9%
as at 30/06/2020
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$135,523
inception date 10/08/1998
$12.1991
as at 06/07/20
Minimum
investment
$100 per month

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.

 

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Growth of $10,000 invested in the fund since inception


Significant holdings

as at 30 June 2020

Fisher & Paykel Healthcare Corporation Limited 17.3%
Mainfreight Limited 13.9%
a2 Milk Company Ltd. 13.4%
Cash 3.9%

Biggest contributors/detractors

as at 30 June 2020

Fisher & Paykel Healthcare Corporation Limited

19% Share Price Change 2.8% Contribution to Return

a2 Milk Company Ltd.

6% Share Price Change 0.8% Contribution to Return

Xero Limited »

5% Share Price Change 0.6% Contribution to Return

Sector Split

as at 30 June 2020

Sector Split

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 »

 

Highlights and lowlights — June 2020

Your portfolios: Highlights and lowlights

In June the NZ Growth Fund returned +5.9%, ahead of the local market at +5.2% (S&P/NZX50G). This rounded out a strong quarter following the market rout in the March quarter.

Fisher & Paykel Healthcare (+19%) announced a very strong 2020 fiscal year result boosted by strong hardware and consumables orders due to COVID. Its nasal high flow therapy is proving a more effective treatment for COVID patients versus traditional invasive alternatives such as intubation (an ‘endotracheal tube’ physically inserted down the throat and into the airways). Longer term, this experience could prove a powerful proof point for practitioners that F&P's products should be used for treatment of far more respiratory patients than is currently the case.

Delegat (+13%) provided an update that its upcoming fiscal 2020 result will be well ahead of its earlier expectations prior to COVID on the back of higher than expected wine case sales. The result was driven by strong sales of its core Oyster Bay products in the supermarket channel.  Customers ensured they had enough product to drink at home through COVID related lockdowns and gravitated towards trusted brands. This was more than enough to compensate for lower demand from restaurants (only around 10% of normal sales mix).

Fund resources

Fisher Funds New Zealand Growth Fund Updates

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Matt Peek

Matt Peek »

Investment Analyst


OUR MANAGED FUNDS

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