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Fisher joins Rich List

A familiar face for advisers has been named among the country's richest people.

Monday, July 24th 2017, 8:36PM

Carmel and Hugh Fisher, founders of Fisher Funds, were named on this year's NBR Rich List, with wealth of $55 million.

That puts them comfortably above the $50m cutoff to be included.

Graeme Hart retained the number one spot while Peter Thiel was added into second place.

The NBR said the couple should be proud of the business they had built up.

Carmel Fisher entered funds management in 1998 when she joined Prudential. She moved to Sovereign in 1994.

But it was while she was working from home with small children that the couple decided to start their own firm.

Fisher Funds is now the country's fifth-largest fund manager, with more than 255,000 clients and $7 billion under management.

Fisher stepped down from her role as managing director last year.

New chief executive Bruce McLachlan had no comment about the announcement.

But Sam Stubbs, who was chief executive of Tower Investments at the time Fisher Funds bought the firm for $79 million, wished the couple well.

It was the fourth fund manager that Fisher Funds had bought in three years.

"They founded and ran a great business," Stubbs said. "They bought other competitors wisely and sold their business at the right time."

He said he was "looking forward to her being as much of a leader in giving away money as she was in making it".

TSB now has 49% of Fisher Funds and the Fishers 22%.

Tags: Fisher Funds funds management Sam Stubbs TSB

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AIA 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 ▼3.39
ANZ Special - ▼2.55 ▼2.69 ▼2.79
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
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BNZ - TotalMoney 4.55 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
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HSBC Premier 4.49 2.60 2.65 2.80
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HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
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Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
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The Co-operative Bank - Standard 4.40 ▼3.19 ▼3.25 ▼3.49
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TSB Special 4.54 ▼2.55 2.69 2.99
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