InvestingFisher Funds loses $80m in bank collapse – just the start of the hit to KiwiSaversA Newsroom investigation shows the well-known funds manager had gone big on Signature Bank – money it will never see again. The big North Shore-based funds manager Fisher Funds had gone big on Signature Bank before its failure this week – that's about $80 million it will never see again. Gardyne says Fisher Funds had reduced its Signature Bank holdings since the last disclosure statements in October; KiwiSaver funds shouldn’t have more than 0.6 percent exposure now. He argues that funds managers are quasi-public institutions, because they are responsible for managing government-backed KiwiSaver funds. “I don’t think Fisher Funds had done anything markedly different, so they haven’t lost my trust at this point.

Source: Stuff March 17, 2023 00:29 UTC