Using the most recent returns and fund update reports from the Quarter Ended June 2022, we will examine Fisher Fund’s recent KiwiSaver Performance.
Fisher Funds is a fund management company that was founded by Carmel Fisher in 1998 that provides a number of services. These services include KiwiSaver funds, managed funds, premium services tailored to high net worth individuals, workplace LifeSaver plans geared towards retirement, and financial advice.
In the recent quarter, challenging market conditions over the first quarter ending in March have negatively impacted KiwiSaver performance. Overall, KiwiSaver assets have declined from NZ$89 billion in the December quarter of 2021 with the recent June 2022 quarter ending with NZ$82.7 billion.
New Zealand equities were underperforming in the June quarter, with the S&P/NZX 50 Index down 10.2%. This is due to a number of reasons, including, the higher than expected inflation, the ongoing war in Ukraine, and concerns from COVID-19 outbreaks and lockdowns. Therefore, these societal and economic pressures have made it difficult for markets to perform, which can be seen in the returns for this quarter.
Table of Contents
News about Fisher Funds
Performance of Fisher Funds KiwiSaver Funds
Fisher Funds Conservative Fund
Fisher Funds Balanced Fund
Fisher Funds Growth Fund
On August 15, Fisher Funds announced the acquisition of Kiwi Wealth, Kiwibank's KiwiSaver scheme, for NZ$310 million. After this acquisition, Fisher Funds still holds the fourth largest KiwiSaver provider position and is now managing up to $14 billion in funds.
Fisher Funds CEO Bruce McLachlan has said regarding this acquisition, “As a business founded in New Zealand, we’re delighted to welcome another great New Zealand business of the calibre of Kiwi Wealth into the Fisher Funds family”. Additionally, Mr McLachlan has stated that their top priority is working closely with Kiwi Wealth to provide support throughout this transition period for all members of the KiwiWealth KiwiSaver scheme.
|
1 Month |
3 Month |
1 Year |
3 Year |
5 Year |
Since Inception |
|
|
Conservative |
-1.9% |
-0.6% |
-7.4% |
0.6% |
2.9% |
4.5% |
|
Balanced |
-1.7% |
-0.3% |
-9.3% |
3.1% |
5.4% |
7.0% |
|
Growth |
-1.6% |
-0.1% |
-10.7% |
5.2% |
7.5% |
7.4% |
Sourced from Fisher Funds fund performance report.
* These returns are to 31 August 2022 and are before tax and after fund management fees. Past performance is not necessarily an indicator of future performance, and return periods may differ.
Note: The following information is sourced from Fisher Funds Quarterly Fund updates published on 31 August 2022.
The Conservative Fund invests mainly in income assets which include cash and cash equivalents and fixed interest, with minor exposure to growth assets such as equities, listed property, and listed infrastructure. The Conservative Fund has had a low 3-month return of -0.6% and a 1-year return of -7.4%, lower than the since inception return of 4.5%.
*The following is Sourced from Fisher Funds Conservative Fund Update.
Returns
Fees
The total annual fees for Fisher Funds Conservative Fund investors are 0.93% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Fisher Fund's top 10 investments in the Conservative KiwiSaver Fund, which comprise 17.35% of the fund.
The Fund invests like the Balanced Fund, focusing on a balance of income assets (cash and cash equivalents and fixed interest), and growth assets, and is aimed at investors with balanced volatility. The Fund has had a 3-month return of -0.3%, and a 1-year return of -9.3%, which is lower than the fund since inception return of 7.0%.
*The following is Sourced from Fisher Funds Balanced Fund Update.
Returns
Fees
The total annual fees for investors in the Fisher Funds Balanced Fund are 1.24% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Fisher Funds’ top 10 investments in the Balanced KiwiSaver Fund, which comprise 17.48% of the fund.
The Growth Fund invests mainly in growth assets, including equities, listed property, and listed infrastructure, with a smaller exposure to income assets. The Growth Fund has had a low 3-month return of -0.1% and a 1-year return of -10.7%, which is lower than the inception return of 7.4%.
*The following is Sourced from Fisher Funds Growth Fund Update.
Returns
Fees
The total annual fees for investors in the Fisher Funds Growth Fund are 1.45% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Fisher Funds’ top 10 investments in the Growth KiwiSaver Fund, which comprise 21.31% of the fund.
Data for Fisher Funds KiwiSaver funds have been sourced from Fisher Funds KiwiSaver Funds. Past performance is not necessarily an indicator of future performance, and return periods may differ.
To see if Fisher Funds has the appropriate fund that aligns with your values, retirement goals and situation, complete National Capital’s KiwiSaver Healthcheck.