Investment continues to flow into Fisher Funds

-Press Release

Friday 27th July 2007

Fisher Funds has dominated new investment in New Zealand retail managed funds in the past three months with investors entrusting more than $40 million to the professional investment manager.

Figures released today in the FundSource Quarterly Report on Retail Managed Funds shows that Fisher Funds has continued to receive a high level of new investments at a time when the rest of the industry has experienced a net outflow of funds.

A majority of the new investments were into Fisher Funds Australian Growth Fund while the $40 million invested with Fisher Funds was more two-and-a-half times that invested with any other fund manager.

�We�re specialists in identifying and investing in what we believe are the best growth companies and that growth focus is clearly appealing to investors. Many consider their investment with Fisher Funds as a good alternative to property investments which are illiquid and which arguably don�t offer as much growth as a few years ago,� says Fisher Funds Managing Director Carmel Fisher.

�Feedback from our investors suggests that they like the combination of our strong performance record, our transparency (what you see is what you get) and our client support team that makes us easy to deal with.�

The FundSource performance report to the end of June highlights the strong returns of Fisher Funds New Zealand Growth Fund and Australian Growth Fund, which continue to lead their sectors.

�Investors in those funds have seen after tax returns of 62.8% and 65.8% respectively in the past two years,� says Fisher.

�The returns reflect our ability to identify growth companies in the New Zealand and Australian sharemarkets.�

She added that inflows into Fisher Funds recently launched New Zealand Premium Fund and Australian Premium Fund for larger investors, ie those investing $300,000 or more, were also very substantial with over $200 million received from new investors in the past 12 months.

�We are delighted with this strong support from new investors as many of them are first time investors in the sharemarket. We also take satisfaction from the fact that the majority of our new investors have been referred by existing clients.�

Fisher said that support from Fisher Funds 20,000 investors had encouraged the establishment of Fisher Funds Growth KiwiSaver Scheme. Our investors made it clear they wanted us to offer a KiwiSaver scheme.

�While most KiwiSaver providers are offering diversified portfolios to potential investors we are staying with what we know best - growth stocks. We believe, and our track record shows, that growth assets can achieve consistently higher returns for investors.

�We�ll continue to identify those opportunities for our existing and new investors.�

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