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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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12.9%
as at 31/10/2020
after fees and before tax
25.7%
as at 31/10/2020
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$147,856
inception date 10/08/1998
$13.8252
as at 27/11/20
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 31 October 2020

Mainfreight Limited 16.3%
Fisher & Paykel Healthcare Corporation Limited 15.6%
a2 Milk Company Ltd. 12.4%
Cash 4.5%

Biggest contributors/detractors

as at 31 October 2020

Mainfreight Limited »

17% Share Price Change 2.4% Contribution to Return

Summerset Group Holdings Limited

16% Share Price Change 1.0% Contribution to Return

Xero Limited »

7% Share Price Change 0.8% Contribution to Return

Sector Split

as at 31 October 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 — October 2020

Your portfolios: Highlights and lowlights

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.  

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


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