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||14.6%|
|-8% Share Price Change||-0.9% Contribution to Return|
|6% Share Price Change||0.6% Contribution to Return|
Auckland International Airport Limited
|8% Share Price Change||0.6% 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 0.9% for the month. Infratil (+6%) announced the launch of Gurin Energy, its fourth renewable energy platform and first in Asia, based on a team of people with a track record of success in South East Asia. This again demonstrates Infratil’s ability to grow and create value beyond the assets in its existing portfolio.
Small business software provider Xero (-8%) saw a fall in its share price late in the month as an uptick in interest rates prompted a sell-off in growth companies. There has been no change to the fundamental picture.
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