Fisher Funds, Morrison & Co alliance to continue
Fisher Funds’ partnership with Morrison & Co, and the infrastructure fund that the firms are launching, is continuing despite Lloyd Morrison’s illness.
Mr Morrison announced last week that he is resigning from several boards and his chief executive position at Infratil after being diagnosed with leukaemia.
Last year, his investment company Morrison & Co took a strategic stake in Fisher Funds and in December the companies launched the Fisher Morrison Infrastructure Fund.
Fisher Funds managing director Carmel Fisher says her thoughts are with Mr Morrison and his family: “he’s more than a business partner, he’s a friend.”
Ms Fisher says while Mr Morrison is disappointed that he can’t join her in telling investors about the infrastructure fund, Morrison & Co’s team of portfolio managers and analysts will continue to identify investment opportunities as planned.
“The fund gives ordinary mums and dads the opportunity to invest in same assets as governments around the world,” she says.
Ms Fisher would not reveal how much investment the fund has attracted so far, saying it only launched two weeks before Christmas and it’s early days yet.
She is still taking up a seat on the Morrison & Co board, and Mr Morrison is not resigning as a Fisher Funds director.
Another senior Morrison & Co executive, Lib Petanga, is also a Fisher Funds director.