Sharechat Logo

Fisher Funds confirms departure of Marlin Global team

Monday 21st May 2012

Text too small?

Fisher Funds, the fast-growing KiwiSaver provider and manager of listed investment funds, has confirmed the departure of its global equities investment team.

Ken Applegate, senior portfolio manager for the NZX-listed Marlin Global fund, is to return to the US where he will continue to manage Fisher’s international funds including Marlin for a period of 12 months, the firm said.

Fisher Funds will close its San Francisco office with the departure of analysts Scott Brown and Scott Huan at the end of this month. Managing director Carmel Fisher said she expects to announce a new portfolio manager in coming weeks.

With Applegate returning to the US, “we no longer require additional US-based resource,” she said of the San Francisco office closure.

The departures were flagged last week in the New Zealand Herald’s Inside Money column, which said Applegate and Scott Brown had joined Fisher in 2007 at the time it was launching its KiwiSaver product and seeking to diversify from Australasian equities.

Shares of Marlin last traded at 70 cents and have declined almost 30 percent in the past 12 months.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
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:

Marlin defends renewal of Fisher Funds management contract
More of Fisher’s companies being taken over
KPMG report 'misleading' over cost of Marlin delisting and restructure: investor
Marlin Global shareholder lobbies for delisting, pans returns