Fisher Funds says new Xero holding amounts to 3% of Kingfish fund

Tue, 17 Oct 2017

By Jonathan Underhill Oct. 17 (BusinessDesk) - Kingfish, a listed investment fund that targets New Zealand shares, has taken an $8 million position in Xero shares after flagging its first bet on the unprofitable accounting software company. Its investment amounts to about 3 percent of the portfolio of NZX-listed Kingfish, which has about $270 million in assets under management, said Sam Dickie, senior portfolio manager at Fisher Funds, which manages Kingfish. In Kingfish's monthly update for October, released yesterday, the manager sai...

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