Kingfish's Fisher says over-valued NZ shares have 'no room for earnings disappointment'

Fri, 29 Jul 2016

By Fiona Rotherham July 29 (BusinessDesk) - Fisher Funds sounded a note of caution to shareholders in the listed Kingfish investment firm it manages, that returns this financial year are likely to be lower than the previous year, particularly if any companies report earnings that disappoint investors in the over-valued New Zealand sharemarket. Kingfish finished the 2016 financial year strongly with a net profit of $22.5 million, up 89 percent on last year. The portfolio of 21 New Zealand high growth companies returned 12.9 percent after a...

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