New Zealand Growth Fund


Investments in your backyard


as at 30/04/2021
after fees and before tax
as at 30/04/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
inception date 10/08/1998
as at 04/05/21
$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 April 2021

Fisher & Paykel Healthcare Corporation Limited 17.8%
Mainfreight Limited 16.9%
Xero Limited 11.6%
Cash 5.5%

Biggest contributors/detractors

as at 30 April 2021

Fisher & Paykel Healthcare Corporation Limited

12% Share Price Change 2.0% Contribution to Return

Xero Limited »

11% Share Price Change 1.3% Contribution to Return

Mainfreight Limited »

4% Share Price Change 0.7% Contribution to Return

Sector Split

as at 30 April 2021

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 — April 2021

Your portfolios: Highlights and lowlights

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.


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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