David Shortall is an investor with a leaning towards growth stocks. Over the years he has held a number of managed funds from ING, BT, Tower, and others. But these days the growth portion of his portfolio is held with Fisher Funds.
Attitudes towards investing and preferred asset classes
Whilst some people prefer to go-it-alone with index tracker funds, David is a great believer in the value a fund manager can add. But not just any fund manager
Although describing himself as a moderate investor, he prefers to invest in funds that have a small number of growth stocks chosen strategically by the manager. That’s why Fisher Funds’ New Zealand and Australian growth funds gets his thumbs up at the moment.
“I have been in and out of Fisher Funds for six to seven years,” he says. “The managers adhere to their strategy, which is clear.”
Currently David holds 25% of his assets in the two Fisher Funds growth funds with the remainder in other cash and other growth vehicles, such as forestry.
Views on the current economy
“I see the bigger picture. The worldwide situation. We have Europe cutting back spending to get their books straight and the Americans are spending their way to get stimulus going. They are two opposing views. It will only be clear which works in about 18 months.”
The high dollar has a cushioning effect on the true state of the economy, says David. The big concern he adds is our exporters, who depend on Europe and the US markets.
As a result of the uncertainty, he’s keen to keep a proportion of his portfolio in liquid assets such as cash, however is always ready to invest.
Outlook for the next few months
David’s personal outlook is “steady as she goes”. He’s the sole income earner with two out of three children still living at home and he isn’t into taking risks. “I’m fortunate that I have no debts, which gives me a lot of financial freedom for the years ahead.”
In terms of the economy he’s not expecting any great steps forward in the next few months. “Confidence in the post-recession economy is still fragile. Kiwifruit is in trouble and retailers are still advertising to get rid of stock.”