Fisher closing one fund, opening another
Fisher Funds is closing its flagship New Zealand Growth fund and looking to launch another listed investment trust.
Tuesday, September 18th 2007, 6:36AM
The fund is being closed "to preserve investment returns and maintain our investment style," managing director Carmel Fisher says.
Since its launch in 1998 the fund has achieved a compound average return of 18.1% annually.
It is now looking to add to its school of funds. The company is "considerting making an offer of shares to the public" for a fund called Marlin.
Money raised in the Marlin offer would be used to invest in a portfolio of international growth companies (not companies listed in New Zealand or Australia). The portfolio will be managed by Fisher Funds with the same investment style as Fisher Funds' other listed investment companies, Kingfish and Barramundi.
Details of the Marlin offer should be announced shortly.
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