Fisher Funds stocks

[thedabsman]

And don't forget they are PIEs. Saves me tens of thousands a year in tax payments. Should add that on to returns too

[Basil]

Yeap, big difference between 28% corporate tax rate for PIE's and 39% for those earning over $180K.

[BlackPeter]

And don't forget they are PIEs. Saves me tens of thousands a year in tax payments. Should add that on to returns too

Good point - certainly something to consider (though, they are not the only worthy PIE investment), however not possible to generalize the benefit for the individual investor - it depends very much on the tax situation of the individual.

[LoungeLizard]

Pretty much all three stocks at, or approaching, 12 month lows.
 Good discount to NAV but it looks as though the market doesn't have a lot of confidence in Fishers ability to navigate what is a pretty volatile time.
 Be interesting to see what the next newsletter says particularly if they underperform the NX50 benchmark again. Will they acknowledge their own underperformance (instead of blaming the stocks that they pick) and more importantly what are they going to do about it? Time for a change in strategy / fund managers?

[LoungeLizard]

I see that the exercise price of the KFL warrants has been set at $1.24 even though the SP is currently $1.20 I can't see there being many takers unless the SP bounces back significantly before 1 May, when the warrants expire.

Is this an emerging problem for KFL given that the warrants are firstly designed to attract investors and the price of them has collapsed to next to nothing (.002c) but also the exercising of the warrants is meant to augment the share and capital base and that ain't going to happen at the current settings? 

[Dolcile]

The primary concern should be, does anyone believe fisher can actually outperform the market on a long term basis, net of fees. 

[Basil]

I no longer have confidence they can match market performance before their expensive fees.  Better off in a low cost ETF with far greater diversification. If you need ro withdraw 2% each quarter, do so.

[winner (n)]

Damning story in BusinessDesk today

We need to talk about Fisher Funds

https://businessdesk.co.nz/journalist/eden-bradfield
Prob paywalled

Best bit which I concur with -

They can pay their portfolio managers and analysts lots of money. Poor old Baghead here just has a bag and maybe some loose coins in my pocket. Boo.

And look – I don't even wear a suit, so what do I know! I'm sure Fisher has lots of people in suits, and they can talk to you about golf, which is surely more important than earning a return.

[Apollo]

I am assuming the story is about big fees, big wages and low returns.

I was with Gareth Morgan which got bought out by Kiwibank which got bought out by fisher funds.

I pay the minimum to get the tax credits and do not think much more about my Kiwisaver account.

I have had a quick look at the sorted page with its kiwisaver provider finder.

Interested in other thoughts on providers, particularly who is the least opaque with their reporting.

Gareth Morgan provided a list of all the companies and funds your portfolio was invested in, long but nice to know. Kiwibank continued with that but after seeing winners post, just logged in to Fishers and the latest report I have is the 2025 annual statement which tells me very little.

Which provider is the least secretive, or who would you recommend and for what reasons.

[Dolcile]

InvestNow Foundation Series Total World Fund. 

Low cost - total world equities - extremely diversified. 

[Raven]

InvestNow, Kernel and Simplicity are the three most commonly mentioned low cost Kiwisaver providers.