Sharechat Logo

Morrison & Co. takes 26% holding in Fisher Funds

Friday 14th November 2008

Text too small?
HRL Morrison & Co., the manager of Infratil, will take a 26% stake in Fisher Funds as part of a tie-up to bolster its funds management business.

As part of the agreement, Lloyd Morrison will join Fisher Fund's board and Fisher Funds managing director Carmel Fisher will become a director of Morrison & Co., according to a statement from Fisher Funds. No price was given.

"The strategic partnership is an expression of optimism in the New Zealand economy, the long-term global outlook and the ability of the two firms to offer unique investment opportunities," Carmel Fisher said.

Morrison & Co. manages infrastructure assets for the New Zealand Superannuation Fund as well as its role as manager of listed investor Infratil.

By Jonathan Underhill

  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:

Infratil sells Manston Airport for 350,000 British pounds to Stagecoach co-founder
Scottish government plans to nationalise Infratil's unprofitable Glasgow Prestwick Airport
Infratil stock undervalued after Z selldown, Wellington Airport worth more, broker says
Infratil plans $65 mln share buy-back to plump up price, flags more dividend growth
Infratil's plans for Z proceeds - debt reduction, buyback, Aussie windfarms
Z listing ups value of Infratil’s remaining stake but reduces earnings
Infratil, NZ Super Fund stand to triple their money on Z Energy investment
Infratil seeks fourth annual increase in fee pool for board
Wellington Airport keeps 2013 returns within regulator's guidelines, engages with carriers over fees
Infratil FY net profit drops to $3.4 mln on UK writedowns, charges