Kingfish outperforms S&P/NZX50 with strong quarter

Kingfish, the investment company, has reported a strong performance in the September quarter.

It achieved a gross performance return of 10.5% and an adjusted net asset value (NAV) return of 10.1%.

This outperformed the S&P/NZX50 gross index, which had a return of 6%.

The company's holdings exposed to the local economy, particularly Fisher & Paykel Healthcare and Vista, were key contributors to its positive performance.

However, a2 Milk and Contact Energy were the main detractors.

Kingfish said despite the challenging economic conditions, there is renewed optimism in the market.

It highlighted the rebound in share prices as investors became more hopeful about the potential for economic improvement in the next year.