KEY POINTS:
Infrastructure investor HRL Morrison & Co has taken a 26 per cent shareholding in privately owned fund manager Fisher Funds.
Morrison & Co executive chairman Lloyd Morrison will join the Fisher Funds board as a director, while Fisher's managing director Carmel Fisher will join the Morrison board.
Morrison & Co is the manager of listed infrastructure company Infratil, and is a specialist manager of infrastructure assets for The New Zealand Superannuation Fund and also manages assets in the property and agriculture sectors.
Fisher specialises in sharemarket investing. It manages five unit trusts and three NZX-listed investment companies - Kingfish, Barramundi and Marlin.
Ms Fisher said the strategic partnership was an expression of optimism in the New Zealand economy, the long-term global outlook, and the ability of the two firms to offer unique investment opportunities to New Zealand investors.
"We look forward to working with the Morrison team to launch our new fund, expected to be available early December, which we believe offers investors an ideal solution to their current investment needs - predictable, stable cash flows from assets which generate an income yield together with some capital gain."
- NZPA
