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.
a2 Milk Company Ltd. |
|
| 19% Share Price Change | 2.8% Contribution to Return |
Fisher & Paykel Healthcare Corporation Limited |
|
| 16% Share Price Change | 2.0% Contribution to Return |
Xero Limited » |
|
| 16% Share Price Change | 1.4% Contribution to Return |
| a2 Milk Company Ltd. | 16.1% |
| Fisher & Paykel Healthcare Corporation Limited | 12.9% |
| Mainfreight Limited | 12.3% |
| Cash | 4.23% |
The NZ Growth Fund posted returns of 2.1% in December, ahead of the local share market which returned +1.6% (S&P/NZX50G). This capped an extremely strong quarter for the fund which was up 13.7% vs the local share market +5.3%. The 12 month return for the year was a staggering 37.0%.
Summerset (+15.6%) continued its extraordinarily strong run. The stock is up almost 70% from its lows six months ago. The ongoing recovery in particularly the Auckland housing market after the sharp falls in mortgage rates has been a key driver as was the announcement of Summerset’s first foray into the Australian market. More recently, the takeover bid for lower quality competitor Metlifecare by offshore entity Asia Pacific Village Group has further driven sector performance.
In what was a fairly quiet month to end a strong year for markets, Xero and A2 Milk drifted lower on no news and profit taking after rallying very strongly in November.
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.
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