Sharechat Logo

Fisher Funds buys competitor

Friday 10th June 2005

Text too small?
Fisher Funds buys 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.

"We believe that focused active investment management will greatly improve the prospects of the Trust in the future," Fisher Funds managing director Carmel Fisher says.

The Equitable Group's chief executive David Forgie expects 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," Fisher says.

"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.

Jasper was previously responsible for portfolio management and investment strategy at ABN Amro. He is joined by Andrea Struik, a recent arrival to New Zealand from the United Kingdom, where she worked for a boutique funds manager.

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.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Sky CEO put on notice by chunky vote against salary share scheme
Unions gearing up to oppose 'market tests' on Fair Pay Agreements
Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments
Bascand says RBNZ will consider changing bank capital proposals

IRG See IRG research reports