{"id":613834,"date":"2026-09-28T00:56:09","date_gmt":"2026-09-28T00:56:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/613834\/"},"modified":"2026-09-28T00:56:09","modified_gmt":"2026-09-28T00:56:09","slug":"fisher-funds-listed-trio-sink-into-the-red-despite-market-rally","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/613834\/","title":{"rendered":"Fisher Funds\u2019 listed trio sink into the red despite market rally"},"content":{"rendered":"<p class=\"zEEGoQobVQRR\" style=\"display:none\">\u201cThe 2026 financial year has been very disappointing for Barramundi,\u201d Oliver said, noting it was \u201cthe worst performance by the company in its 20-year history\u201d.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Marlin\u2019s result was also poor, so poor in fact, the company emphasised this fact through repetition. <\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">\u201cMarlin has not performed well during the 2026 financial year,\u201d Oliver said twice in a single paragraph in a note to shareholders.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Oliver noted this performance had also followed a poor 2025 and came despite a wider rally in equities. \u201cRegrettably, for the second consecutive year, the actively managed Marlin portfolio underperformed the market indices,\u201d she said.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Total shareholder returns were -7.6% \u2013 falling well short of the company\u2019s benchmark index that rose almost 31% in the same period.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Oliver said: \u201cThe board is disappointed with the performance and is working closely with the manager to be assured that the portfolio is positioned to remedy this situation in the future.\u201d<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Barramundi\u2019s report noted that the fund\u2019s current management agreement with Fisher, which was renewed in 2021 for a five-year term to October 25 2026, is now under review. <\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">\u201cAt the time of writing this directors\u2019 overview, the Barramundi Board is engaged in a comprehensive review of the performance of the manager of its obligations under the management agreement. <\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">\u201cThe outcome from that review will not be known until after the issuance of this annual report.\u201d<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">New Zealand-focused Kingfish, with an earlier reporting date of March, had earlier posted a $13.6m loss due to what its then chair Andy Coupe described as a \u201cchallenging period for the New Zealand sharemarket\u201d.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Dividend deliveries salvaged the position for Kingfish shareholders, with a total shareholder return of 1.3% \u2013 although still negative in real terms.<\/p>\n<p class=\"zEEGoQobVQRR\" style=\"display:none\">Matt Nippert is an Auckland-based investigations reporter covering white-collar and transnational crimes and the intersection of politics and business. He has won more than a dozen awards for his journalism \u2013 including twice being named Reporter of the Year \u2013 and joined the Herald in 2014 after having spent the decade prior reporting for business newspapers and national magazines.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe 2026 financial year has been very disappointing for Barramundi,\u201d Oliver said, noting it was \u201cthe worst performance&hellip;\n","protected":false},"author":2,"featured_media":613835,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,25819,127,36090,36091,305,296,1426,68601,44406,225,111,139,69,8240,16237,15406,5909,78054,223,13082,302193,6861],"class_list":["post-613834","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-deep","tag-despite","tag-fisher","tag-funds","tag-have","tag-into","tag-investment","tag-listed","tag-managed","tag-market","tag-new-zealand","tag-newzealand","tag-nz","tag-posted","tag-rally","tag-red","tag-results","tag-sink","tag-the","tag-trio","tag-troika","tag-vehicles"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/613834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=613834"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/613834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/613835"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=613834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=613834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=613834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}