Australian Growth Fund
Growing investments in the lucky country
The Australian Growth Fund was launched in 2005 to give Fisher Funds investors access to the Australian share market. The Fund aims to achieve long term capital growth and is managed using exactly the same investment approach that we have successfully applied in New Zealand. We have established very good relationships with our Australian company management teams, and sometimes have to pinch ourselves at the number and diversity of investment opportunities that we uncover.
Why invest in Australia?
The Australian market is deeper and broader than New Zealand's providing numerous opportunities to invest in great businesses, often in sectors that are not well represented here.
What type of companies are you likely to find in the Australian Growth Fund?
Our Australian companies are probably quite different to those you'd find in a typical Australian portfolio. Rather than investing in banks, resource companies and large telecommunications companies, our portfolio is an eclectic mix of companies that you have probably never heard of. But they have all been selected because they met our stringent criteria, and because we believe they have real potential to substantially grow their earnings.
We are close to all our portfolio companies, visit them regularly and get to know the management teams well. Our investment team has had more than 100 company interactions (company visits, conference calls etc) over the last year. We pride ourselves on the relationships that we have established with the management teams and boards of many successful businesses and most importantly we have, over the years, been able to identify some great performers.
Current Unit Price (as at Thursday, 23 May 2013) $2.6386
Fund Inception June 2005
How has the fund performed as at 30 April 2013
| Australian Growth (Average Annual Compound Return) | Benchmark (90 Day Bank Bill Rate) |
Benchmark (S&P / ASX 300 in $NZ) |
|
| 1 month | - 0.1% | + 0.2% | + 1.5% |
| 3 months | + 0.8% | + 0.6% | + 4.6% |
| 6 months | + 6.3% | + 1.3% | + 12.2% |
| 12 months | + 17.5% | + 2.7% | + 16.6% |
| 2 years* | + 1.8% | + 2.7% | + 2.2% |
| 3 years* | + 7.2% | + 2.8% | + 5.3% |
| 5 years* | + 8.1% | + 3.7% | + 3.0% |
| 7 years* | + 3.8% | + 5.0% | + 4.4% |
| Since Launch* | + 7.4% |
* Annualised
Fund Performance as at 30 April 2013
(after fees and before tax)
The above graph illustrates the impact of $10,000 invested on day one in the Australian Growth Fund (after fees and before tax).
Fund Portfolio
Find out more about what the companies in the portfolio do and why we like them.
Sector Allocation as at 30 April 2013
Frank Jasper, Senior Portfolio Manager, Director
Frank is responsible for overseeing the Australian portfolios. Frank worked for Tower Asset Management for ten years and as Global Analyst was involved in Australian equity research and portfolio management. Frank then worked as Head of Research for Mercer Investment Consulting for two years, and as Equity Strategist at ABN AMRO Craigs for three years. He joined Fisher Funds in April 2005.
Terry Tolich, Senior Investment Analyst
Terry is predominantly responsible for researching Australian companies. Terry was a Senior Industrial Analyst with Goldman Sachs (NZ) J B Were for ten years prior to joining Fisher Funds in August 2006. In the 2006 INFINZ/National Business Review Industry Awards, Terry was the number one rated analyst in both the Retail and Building Materials sectors, and was a finalist in the Research Analyst of the Year Award.
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