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Fisher Funds
Simon Power runs Fisher Funds, a New Zealand asset manager serving nearly 500,000 KiwiSaver and managed-fund clients with an in-house active-investment...
Fisher Funds
Fisher Funds launched in 1998 and spent 25 years building a mass-retail franchise in New Zealand, anchored by KiwiSaver — the national retirement-savings scheme. It operates the Fisher Funds KiwiSaver Scheme and the Fisher Funds TWO KiwiSaver Scheme alongside open-architecture managed funds, a premium wealth service for affluent investors, and an institutional arm. The firm does not disclose a consolidated AUM or total deployment figure. The firm's investment team runs active mandates across equities, fixed income, direct property, and private equity. Portfolio managers hand-pick securities under the Smart Active Investment Management framework, aiming for benchmark-plus returns. Confirmed in-house leadership includes Mark Brighouse as Chief Investment Strategist, Michael Walmsley as Head of Private Equity, and Brent Buchanan as Head of Direct Property, supported by a bench of CFA charterholders. The geographic footprint is concentrated in New Zealand, with a global-value equity sleeve managed by a dedicated portfolio manager. Fisher Funds employs more than 80 people, including an advice force of over 30 wealth and investment advisers and a 20-person investment team. In addition to its retail KiwiSaver and managed-fund platforms, the firm runs an Individually Managed Account Service, a Private Portfolio Service, the LifeSaver Plan, and the FuturePlan offering. May 2024: the firm maintained its leadership structure under CEO Simon Power, whose public profile includes a prior career as a New Zealand cabinet minister, with Ashley Gardyne installed as CIO. Fisher Funds' structure blends mass-retail distribution with an active-investment engine inside a single regulated entity, an unusual pairing for a firm of its scale. No institutional parent is disclosed, and the firm operates independently from any Australian bancassurance group — a structural differentiator in a market where bank-owned wealth platforms dominate KiwiSaver default-provider slots.
General information
Firm type
Generalist
Year founded
1998
AUM
Undisclosed
Location
Region
Oceania
Country
New Zealand
City
Auckland
Corporate office
Private Bag 93502, Takapuna, Auckland 0740, New Zealand
Principals
Simon Power
Chief Executive Officer
Ashley Gardyne
Chief Investment Officer
Frequently asked questions
Who runs investment decisions at Fisher Funds?
Ashley Gardyne is the Chief Investment Officer, heading a 20-person in-house investment team. Mark Brighouse serves as Chief Investment Strategist. Portfolio managers for specific sleeves include Robbie Urquhart, Sam Dickie, Quin Casey, Harry Smith, and Matt Peek, alongside dedicated heads for private equity, direct property, and fixed income.
Does Fisher Funds operate solely as a KiwiSaver provider?
No. KiwiSaver is the firm's most visible franchise, but it also offers managed funds, a premium service for affluent investors, an individually managed account service, a private portfolio service, and institutional mandates. This layered structure lets it serve entry-level retirement savers and high-net-worth individuals through a single platform.
How is Fisher Funds' investment approach structured?
The firm uses what it calls Smart Active Investment Management — a bottom-up, benchmark-aware framework where securities are hand-picked by sector-focused portfolio managers. The approach spans equities, fixed income, direct property, and private equity, with the stated goal of beating the relevant benchmark over a full market cycle.
What is Fisher Funds' known posture on responsible investment?
Fisher Funds states that all investments are underpinned by a responsible investment policy and that it is committed to investing client money responsibly. Rachel Tinkler heads the responsible-investment function. However, the firm has not published a detailed exclusion list or ESG-integration framework on its public website.
Does Fisher Funds participate in private equity or direct property deals?
Yes. The firm runs dedicated in-house capabilities for both private equity and direct property. Michael Walmsley leads private equity and Brent Buchanan leads direct property. These sit alongside the liquid-portfolio teams, giving the firm a multi-asset toolkit that competes with larger diversified managers in the New Zealand market.
Does Fisher Funds outsource investment management?
No. Fisher Funds is an active manager that runs its own in-house investment team. The firm markets its 20-person investment group, including multiple CFA charterholders, as a core differentiator from outsourced or passive-heavy peers. All portfolio construction and security selection is handled internally.
What governance sits behind Fisher Funds?
A seven-member board of directors oversees the firm's strategy and direction. The board operates alongside a leadership team led by CEO Simon Power, whose prior career as a New Zealand cabinet minister — he held the Commerce and Justice portfolios — brings an unusual regulatory and public-policy lens to the firm's governance.
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