KEY POINTS:
Kingfish, Fisher Fund's listed New Zealand investment vehicle, has made a loss of $7.84 million in the six months to September.
The loss was up 28 per cent on the same period last year as the fund continued to be hit by turmoil in the sharemarket.
At the same time its net asset value declined from $1.31 in March 31 to $1.19. It has since fallen further to $1.05 as of November 12.
Chairman Rob Challinor said while the returns were dismal the fund was not alone in being hit. The NZX-50 was down 11 per cent during the period.
Fisher Funds managing director Carmel Fisher said the period had contained little joy for share market investors. She believed the portfolio's companies were resilient. Its biggest investments include an 18 per cent stake in Ryman Healthcare, 16 per cent in Mainfreight and 11 per cent in Metlifecare.
The fund will not pay an interim dividend for the period. Kingfish's share price closed up 3 cents at 84 cents yesterday.
