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- Release Date: 21/05/12 12:55
- Summary: OFFICE: MLN: Fisher Funds transitions international team
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MLN
21/05/2012 10:55
OFFICE
REL: 1055 HRS Marlin Global Limited
OFFICE: MLN: Fisher Funds transitions international team
PRESS RELEASE 21 May 2012
Fisher Funds transitions international team
Fisher Funds today announced changes in the management of its international
funds which have allowed for a smooth transition following the decision of
Senior Portfolio Manager, Ken Applegate to return with his family to live in
the US.
In order to achieve continuity and maintain a consistent investment approach,
Fisher Funds has reached agreement with Applegate to manage its international
funds, including NZX listed company Marlin Global, from the US for a minimum
twelve month period.
Managing Director Carmel Fisher said "While we have been happy to have
US-based analysts, we need our portfolio managers to be based in New Zealand
so that we can get consistency, collaboration and sharing of ideas amongst
the investment team. We're also aware that our clients enjoy direct and open
access to our investment professionals, in the same time zone.
We are employing a new international portfolio manager and have recently
appointed a senior analyst, both to be based in Takapuna. We are confident
that with Ken working with the new team, Fisher Funds' unique and time-tested
investment approach will be consistently applied."
Fisher Funds' San Francisco office will be closed and analysts Scott Brown
and Scott Huan will leave the company at the end of May.
"The San Francisco office has been a great base for the analysts, but with
Ken working from the US and the enlarged Takapuna team leveraging off each
others' expertise, we no longer require additional US-based resource."
"We will miss Ken but are pleased that we have been able to work with him to
achieve an orderly transition and take the time to find a new portfolio
manager whose appointment we expect to be able to announce in coming weeks."
ENDS
Carmel Fisher, Managing Director, Fisher Funds
DDI 09 484 0342 Mob 021 424610
End CA:00223056 For:MLN Type:OFFICE Time:2012-05-21 10:55:04
