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||17.8%|
Fisher & Paykel Healthcare Corporation Limited
|12% Share Price Change||2.0% Contribution to Return|
|11% Share Price Change||1.3% Contribution to Return|
|4% Share Price Change||0.7% 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.
The New Zealand Growth Fund was up 3% for the month. F&P Healthcare (+12%) gained strongly off the back of the tragic increase in the spread of COVID that has caused global daily cases to reach new highs. April marked the beginning of F&P's new financial year, so there is now a greater prospect of COVID globally providing an unexpected boost in this new year. We continue to receive feedback that F&P's nasal high flow therapies are likely to be more widely adopted after performing effectively during COVID, which is our main thesis for our position.
Auckland Airport (-1%) opened quarantine-free travel with Australia during April. Traffic has been modest so far with passengers largely returning residents and those visiting friends and family. The easing of border restrictions with Australia will act as a test case for wider border openings with low-risk countries such as the Pacific Islands and certain Asian nations.
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