Introduction to the Investment Series

The Fisher Funds Investment Series (formerly the TOWER Investment Series) offers a complete family of managed funds to help those more conservative, risk averse investors through to those who are seeking capital growth.  The asset classes included within the Fisher Funds Series are cash, fixed income, property and shares.

Investment Philosophy behind the Investment Series

Diversification is our driving influence

The funds in the Fisher Funds Investment Series are managed first and foremost with the principle of diversification in mind. Diversification can lessen the impact of poor performance of any individual security and potentially provide investors with smoother returns. In the case of international shares this could mean that the portfolio is comprised of several hundred companies. When it comes to international fixed income the portfolio could include over 500 different securities across a wide range of countries and sectors.

A disciplined investment approach

Before an investment is included in any of our funds it is subject to rigorous analysis. Our preferred investments are selected based on:

• the quality of the underlying business
• the income generating ability of that investment
• the level of risk, and 
• relative value compared to other investments.

This approach applies to investments selected by the investment team at Fisher Funds as well as the other external investment managers who manage money on behalf of the funds.

Active management of foreign currency exposure

Some of our funds invest in international markets (in addition to New Zealand).  The investment managers are mindful of the possible effect of exchange rate movements on the value of international investments and can use currency hedges (within a permitted range) to offset some of this risk.  The actual hedging levels may vary and are at our discretion.

A prudent approach to portfolio management

Where portfolios consist of a combination of several asset classes (such as the Fisher Funds Multi Sector Fund) Fisher Funds team uses analysis of long term volatility to determine a mix of asset classes that best suits the risk profile of those particular funds. This is regularly reviewed in line with market developments and performance so that our portfolios are optimised for the current investing environment.