InvestNow News 23rd Aug – Fisher Funds – 21 years of Fisher Funds performance
How much could your money have grown?
You can hear their advocates yelling from the rooftops, and from every podium they can access. The global trend in funds management is overwhelmingly towards low-cost passive funds. There is a school of thought (often communicated more like a religion) that says active managers cannot beat the market on an after fees basis, and therefore investors should bank the guarantee of lower fees. Of course this advocacy is often backed with statistics and comparisons from carefully chosen funds over carefully chosen time periods.
This month Fisher Funds celebrates the 21st birthday of its oldest managed fund – the New Zealand Growth Fund. This fund has consistently beaten the market over most (but not all) of its 21 years, and has been very profitable for Fisher Funds clients. The fund has returned 23.7% in the last year after fees but before tax, which continues this outstanding track record. The return since inception is 12.7% and this includes an era with the GFC in the middle. $10,000 invested in 1998 is worth over $120,000 today.
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