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New Zealand Growth Fund

NEW ZEALAND
GROWTH FUND

Investments in your backyard

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$8.1947
as at 10/12/18
11.7%
as at 30/11/2018
after fees and before tax
6.0%
as at 30/11/2018
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$94,023
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 November 2018

Fletcher Building Limited »

-21% Share Price Change -0.7% Contribution to Return

Mainfreight Limited »

7% Share Price Change 0.6% Contribution to Return

Infratil Limited »

8% Share Price Change 0.6% Contribution to Return

Sector Split

as at 30 November 2018

Sector Split

Biggest holdings

as at 30 November 2018

Fisher & Paykel Healthcare Corporation Limited 12.4%
a2 Milk Company Ltd. 10.7%
Mainfreight Limited 9.7%
Cash 1.8%
Top 10 holdings 74.3%

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 — November 2018

Your portfolios: Highlights and lowlights

The New Zealand sharemarket stabilised in November after a sharp sell-off in October, with the S&P/NZX50G up +0.9%, similar to global markets. The New Zealand Growth fund performed worse than the market, falling -0.8% as low-growth sectors, like telecommunications companies or electricity utilities, generally outperformed the more strongly growing companies which we favour. The best performing shares in the portfolio were our defensive holdings in Intratil (+8.2%) and Meridian (+5.4%), while Mainfreight (+6.7%) also performed well on the back of a good first half result. Fletcher Building was the worst performer (-21.2%) after it reduced its profit guidance at its Annual Meeting.

We are constantly considering the prospects of our companies and the reasons for owning them, especially in difficult markets, while remaining mindful that one or two months is a short time when it comes to investing in shares. 

Mainfreight is an excellent example of a key position in the portfolio taking a long-term approach to business that is paying off. Mainfreight’s mantra is that “decisions are made on the basis that we will be here for another 100 years”. The team continues to win new customers by taking this long-term approach and by providing superior service. A recent initiative that is paying off is the firm’s move to run its own intercity line haul services in the United States. Doing this means improved service to customers helping retention and customer acquisition. The company continues to expand its global network into new regions to expand with its customers and has made changes to underperforming areas of the business that have needed attention, with improved performance. This long term customer focus holds the company in good stead for continued growth.


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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