Looks like Fisher funds using the current SP weakness to accumulate: They increased their holding by nearly 2.5 million shares over the last 4 weeks! Clever ...
http://nzx-prod-s7fsd7f98s.s3-websit...318/299578.pdf
Printable View
Looks like Fisher funds using the current SP weakness to accumulate: They increased their holding by nearly 2.5 million shares over the last 4 weeks! Clever ...
http://nzx-prod-s7fsd7f98s.s3-websit...318/299578.pdf
Trying to make up for lost ground as April not good for them -
A drag on performance was retirement village provider Summerset (-15%) after releasing a weak quarterly new sales figure, citing that increased settlement times in the residential property market are impacting settlement of its units. Following our recent site visit in March, we nonetheless believe that the company remains well positioned despite this short-term market-related weakness.
It looks like fisher also bought more Ryman as well ....and even more XRO
Clever is to use the current weakness to increase their holding. But - by the way - they only returned to substantial shareholder status in April 2019. I don't know, how many (if any) they did hold on the way down, given that they sold some end of Feb 2018 (after an upspike) and dropped at that stage below 5% - but if they did, it was a smaller parcel.
I guess one thing we need to understand as well is that the investment rules for big investors look a bit different. Assume you think a share has peaked, than as a small investor you might run for the exit. As a big investor you are already too late because any sale of a big parcel would just crash the market.
Big funds need to think a bit more long term unless they want to create havoc on the markets.
But anyway - I do have my Kiwisaver account with Fisher funds and am quite pleased about their information as well as performance. Good company.
Slipping back down to my previous buy order price...
Hard to believe the share price was higher September 9 2016 - that is ages ago they say.
Now trading at just 46.7% of RYM's share price.