Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fisher Funds expands investment team

10 June 2005

Fisher Funds expands investment team and purchases Coronet Asset Management Limited

Fisher Funds announced today that agreement had been reached to purchase Coronet Asset Management Limited (CAM) from The Equitable Group.

CAM is the manager of the Coronet Equity Trust, a unit trust investing in shares in New Zealand and Australia. The Trust has approximately $8m under management.

Fisher Funds Managing Director Carmel Fisher said “We believe that focused active investment management will greatly improve the prospects of the Trust in the future.”

The Equitable Group’s Chief Executive David Forgie said “We are delighted that Fisher Funds is taking over the management of the Coronet Equity Trust. We expect Fisher Fund’s track record of investment performance and its commitment to build the product will benefit unit holders significantly.”

The purchase of CAM enables Fisher Funds to offer its loyal investor clients an Australian equities investment capability. “Our clients have been telling us for some time that they would like us to widen our product range, and acquiring CAM does just that” says Carmel Fisher. “We believe our unique and proven philosophy of investing in a concentrated portfolio of smaller, well managed, growing companies will see us generate attractive returns in the Australian equity market.”

In tandem with the purchase of Coronet Asset Management Fisher Funds announces two significant additions to its investment team.

Frank Jasper and Andrea Struik have joined the firm to focus on the research and management of Australian shares. Frank comes to Fisher Funds from a major New Zealand broking firm where he was responsible for portfolio management and investment strategy. He is joined by Andrea Struik, a recent arrival to New Zealand from the United Kingdom, where she worked for a boutique funds manager.

Commenting on the additions to the investment team Carmel Fisher said that “we are delighted to have Frank and Andrea join the team. They are both experienced investment professionals and will be able to take the proven Fisher Funds approach and apply it to investing in the Australian share market. Their early work has already identified some very interesting investment opportunities.”

Current Coronet Equity Trust unit holders will be invited to a meeting to be held in July to meet the Fisher Funds team and gain a greater understanding of how the Trust can be developed going forward.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news