About Us
Why International Growth Companies?
World of opportunity - In every county around the world, successful businesses are employing unique strategies to grow their profits and achieve a competitive advantage. Fisher Funds' approach is to find companies that can grow their profits over time, knowing that their share prices should follow in due course. The breadth of investment opportunities is enormous, both in terms of the number of listed companies and in the broad array of industries that the companies work in.
Improved portfolio characteristics - Diversifying an investment portfolio to include companies from around the world, possibly operating in sectors not well represented in New Zealand or Australian sharemarkets, can enhance investment returns and lower overall portfolio risk.
Growth is vital - Most investors need a growth component in their investment portfolio. Capital stability and a regular income are important, but capital growth is vital to increase wealth over the long term and outpace inflation.
Why Fisher Funds?
Selecting exceptional but undervalued growth companies - Fisher Funds' investment style relies on selecting a small number of exceptional companies for inclusion in the portfolio. It seeks to identify companies that are achieving significant and sustainable profit growth and which possess market leadership but, perhaps due to size or share liquidity, are largely unnoticed by the investment community. Fisher Funds believes that a number of small growth companies are under-researched, undervalued and offer attractive investment characteristics. Fisher Funds specifically seeks out these companies, researches them and creates a portfolio of investments which would be difficult for an investor to build in their own right.
Proven success with a research-intensive process - Fisher Funds's investment process centres on in-depth business analysis and first-hand company research - "kicking the tyres" of companies by visiting management in factories, offices or laboratories before investing. Investors of Marlin will benefit from Fisher Funds' expertise in analysing companies, assessing management and selecting and constructing a portfolio of shares.
Fisher Funds was named top New Zealand Equity Manager by Fundsource in 2002, 2003 and 2007, and Morningstar Fund Manager of the Year - Domestic Equities in 2004, 2005 and 2006.
Top-rated, experienced team – A successful track record and identical investment philosophy made Marlin portfolio manager, Ken Applegate, a welcomed addition to the Fisher Funds investment team in 2007. Ken has spent 11 years based in the United States managing specialist small cap portfolios. Most recently at Berkeley Capital Management he has been Lead Portfolio Manager of the Harlingwood Capital Management Small Cap Growth portfolio. The returns of that portfolio exceeded both the Russell 2000 Growth Index and the S&P500 Index in the five years to 30 June 2007. Russell Investment Group also accessed Ken's skills through selecting Berkeley Capital Management as one of 200 managers from a pool of around 8,000 possible candidates to manage a portfolio of shares on their behalf. Ken is responsible for Fisher Funds' international portfolio management.
Scott Brown joined the Fisher Funds team as its San Francisco based investment analyst after 8 years at Dresdner RCM Global Investors where he was involved in global equity research and portfolio management, including co-managing RCM's global small cap fund. The Fisher Funds team is led by Carmel Fisher who specialises in the New Zealand share market.
History of Managing Portfolios - Fisher Funds has managed portfolios of growth companies for nearly ten years. For the past four years Fisher Funds has been the portfolio manager for Kingfish Limited, a listed investment company that invests in New Zealand shares. And for over a year, Fisher Funds has been the portfolio manager for Barramundi Limited, a listed investment company that invests in Australian shares.
Why Invest in Marlin?
Access to growth on a global scale - Marlin gives New Zealand investors access to a hand-picked portfolio of international growth companies through a single investment. Marlin, through Fisher Funds, will have at its disposal the expertise required to discover and research companies anywhere in the world. These companies might be overlooked by New Zealand investors as being unfamiliar, too difficult to research or simply 'too far away'.
Diversification - Marlin will provide investors with exposure to a portfolio of approximately 30 to 40 international growth companies. The mix of companies in the porftolio will be designed to maximise returns while providing Marlin shareholders with greater diversification on an industry, economic and geographic level than if they had limited their portfolios to just New Zealand or Australian growth companies.
Long term investment focus - Marlin is a closed-end fund structured as a limited liability company. The closed-end structure enables Marlin and the Manager to have a genuine long-term investment horizon. This means that the Manager does not have to worry about selling investments to fund investor withdrawals.
Liquidity and simplicity - Listing will provide investors with a liquid market to buy and sell Marlin shares. Many international growth companies are not actively traded, and transacting in overseas shares and the associated currency transactions can be complicated and relatively costly for private investors. Marlin provides simplicity for investors seeking exposure to a diversified, international growth portfolio.
History
Marlin Global Limited listed on the New Zealand Stock Exchange on 1 November 2007 following an initial public offering that raised over $100 million. Participants in the initial public offering also subscribed for Marlin Global Limited warrants. These are also listed on the New Zealand Stock Exchange and can be traded independently from Marlin Global Limited shares.
The original Prospectus and Investment Statement can be emailed to you in a PDF format. Please email us if you would like this document.
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