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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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$10.3043
as at 26/06/19
12.4%
as at 31/05/2019
after fees and before tax
19.5%
as at 31/05/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$113,200
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 31 May 2019

Mainfreight Limited »

10% Share Price Change 0.9% Contribution to Return

a2 Milk Company »

-6% Share Price Change -0.8% Contribution to Return

Xero Limited »

11% Share Price Change 0.8% Contribution to Return

Sector Split

as at 31 May 2019

Sector Split

Biggest holdings

as at 31 May 2019

a2 Milk Company Ltd. 14.1%
Fisher & Paykel Healthcare Corporation Limited 12.6%
Mainfreight Limited 10.8%
Cash 3.9%
Top 10 holdings 82.7%

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Zoie Regan

Zoie Regan »

Senior Investment Analyst

Matt Peek

Matt Peek »

Investment Analyst


Highlights and lowlights — May 2019

Your portfolios: Highlights and lowlights

The NZ Growth Fund had another solid month, returning 1.1% slightly ahead of the local share market that was up 1.0% (NZX50). Xero, Mainfreight and Vista were the key contributors.

Mainfreight delivered a very strong fiscal 2019 result, ahead of our expectations. Most of the uplift in profits came from its offshore businesses and the performance in the United States was particularly notable. The humble management team unusually commented they "will bask for a moment, savouring this result" which was somewhat a watershed moment for their global aspirations. We believe the recent confidence and upward inflection in the US and Europe reflect the Mainfreight strategy is gaining traction in these markets. We increased our investment in this company as it is executing well and the potential creation of shareholder value from growing in these markets is significant.

There were several highlights from Xero’s fiscal 2019 result. These included the number of subscriber additions in the key UK market and the supposedly mature New Zealand market which continued to grow well, in excess of 20%. Elsewhere, the rest of world subscribers and revenues beat expectations and growth is accelerating. We added to our investment in Xero.

Other changes to the portfolio for the month included increasing our investments in a2 Milk and Infratil and reducing our investment in Fletcher Building and Freightways.

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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