Third piece of Pie due in April
Boutique manager Pie Funds Management completed a transformational year in 2012, with funds under management rising from $23 million to $75 million.
Monday, January 7th 2013, 8:04AM
Both its Dividend and Growth Funds reached their $35 million capacity and have been clised to new money.
The Growth Fund achieved a return of 47.3% net of all fees for the 12 months to November 30, and the Dividend Fund achieved a return of 46.8% net over the same period.
Managing directory and portfilio manager Mike Taylor said "This year has seen a transformation in our business, and we are particularly proud that we have maintained and built on our excellent performance track record at the same time.
Pie Funds is the best performing fund manager in New Zealand and we will strive to maintain that position."
Pie Funds is looking at the launch of a new fund around April. This fund will leverage on the expertise Pie Funds has in Australasian small caps, and will focus on a more specialised subset of the small cap market.
The firm has also announced it will launch its inaugural stockpicking contest. The winner will be announced on December 1 and will receive flights, accommodation and a guest pass to the 2014 Berkshire Hathaway annual meeting in Omaha, Nebraska, where Warren Buffett and Charlie Munger of Berkshire Hathaway discuss their annual results and answer shareholders' questions.
Rules of the competition and details of how to enter are available at www.piefunds.co.nz.
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