Fisher to establish own funds
Carmel Fisher has left Sovereign to set up a boutique funds management business.
Wednesday, February 4th 1998, 12:00AM
Carmel Fisher has resigned from her job as Sovereign Asset Management managing director to establish a boutique funds management business.Fisher Funds Management, which is expected to be up and running by April, will specialise in the management of New Zealand and Australian equity portfolios.
"I believe there is an enormous opportunity to create a niche investment business specialising in actively managed share portfolios, providing diversification opportunities for the increasing number of passive and indexed funds," Fisher says.
"The funds will be pitched initially at the retail market through select advisers, although we will also be providing some limited wholesale services."
It is intended that the funds will be managed in the same style adopted by Fisher over the past 10 years, that is with a bias towards smaller companies possessing above average earnings growth prospects.
Fisher will continue her relationship with Sovereign, initially as a consultant, then as manager for its New Zealand Select Equities portfolios once Fisher Funds has been established.
Sovereign says this arrangement ensures continuity in management of its New Zealand equities portfolio that Fisher formerly managed internally for Sovereign.
General manager Michael Newton has now taken over the day-to-day management responsibilities of Sovereign's investment businesses.
Prior to Sovereign Fisher launched and managed Prudential's Emerging Companies Trust.
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