Lloyd Morrison was a mentor: Carmel Fisher
Wellington businessman Lloyd Morrison was a mentor as well as a director of her company, says Fisher Funds Management managing director Carmel Fisher.
Friday, February 10th 2012, 11:30AM
by Jenny Ruth
Fisher and Morrison joined forces in late 2008 when HRL Morrison & Co took a 26% shareholding in Fisher Funds.
"We've enjoyed his strategic vision - it's been a great association," Fisher says, adding that she had known him for 20 years.
"Lloyd was impressed with what I had done and wanted to be part of that journey which I was really excited about," she says.
"I know what Lloyd expected of me and what he expected of Fisher Funds. We will be working hard to make that a legacy for him."
Fisher's is among the many tributes pouring in for Morrison, who died of leukemia this morning in Seattle.
Morrison's illness was diagnosed about three months after the partnership with Fisher was formed. He was founder of listed infrastructure investor Infratil, a fiercely proud New Zealander and campaigned on a number of issues including keeping ownership of the New Zealand Stock Exchange local and on changing the national flag to something more meaningful. Among many awards, Morrison was made a Companion of the New Zealand Order of Merit in 2009
Morrison described the investment in Fisher Funds at a time when the global financial crisis was deepening as countercyclical, "like buying straw hats in winter" while Fisher has previously described their relationship as "more than a business partner, he's a friend."
One result of the partnership was the Fisher Morrison Infrastructure Fund launched in lat 2009. Investing in infrastructure globally, the fund has achieved a 9.8% annual return since inception.
| « [Weekly wrap] Morrison a big loss | KiwiSaver mismatch a 'huge challenge' for advisers » |
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