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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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$10.3002
as at 11/10/19
12.3%
as at 30/09/2019
after fees and before tax
12.8%
as at 30/09/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$116,101
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 30 September 2019

a2 Milk Company »

-8% Share Price Change -1.2% Contribution to Return

Summerset »

10% Share Price Change 0.6% Contribution to Return

Infratil Limited »

8% Share Price Change 0.6% Contribution to Return

Sector Split

as at 30 September 2019

Sector Split

Significant Holdings

as at 30 September 2019

a2 Milk Company Ltd. 13.7%
Mainfreight Limited 12.7%
Fisher & Paykel Healthcare Corporation Limited 12.7%
Cash 1.9%

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Matt Peek

Matt Peek »

Investment Analyst


Highlights and lowlights — September 2019

Your portfolios: Highlights and lowlights

The NZ Growth Fund posted returns of +0.7% in September, compared with the local share market which returned +1.6% (S&P/NZX50G).

Summerset (+10%) acquired a retirement village site in Cranbourne North, near Melbourne, its first site for development in Australia. This type of acquisition was well foreshadowed by the company and does not settle until early 2021 which means the company can progress planning in the meantime. The village adds to its New Zealand development pipeline and units will likely be available for sale commencing late 2021 or early 2022.

Accounting software provider Xero declined modestly for the month (-2%). We attended Xerocon Brisbane 2019, the showcase event for Xero's accountant, bookkeeper, and app ecosystem partners. This reinforced Xero’s compelling value proposition to its accounting and bookkeeping partners, which amounts to very large time and workflow savings, is very personal to them and builds strong product advocacy. The management team continued to reiterate the message that they are in the 'early innings' of a long and lucrative game, with cloud accounting adoption still in the early stages in key markets, "like the internet 15 years ago".

 

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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