Fisher Funds doubles full-year profit, earns performance fees

Fri, 04 Oct 2013

Oct. 4 (BusinessDesk) – Fisher Funds Management more than doubled its profit last year as a strong performance and inflows for most of its funds allowed the privately owned firm to lift management fees and earn performance fees. Profit rose to $3.6 million in the year ended March 31, from about $1.77 million a year earlier, according to the Auckland-based firm’s annual report. Income jumped 39 percent to $18.8 million as management fees rose 18 percent to $13 million and performance fees jumped to about $3.3 million from just $375,000 a year...

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