Fisher Funds managing director and founder Carmel Fisher has annouced she plans to retire in 2017.

In a video posted to the Fisher Funds website, she acknowledged the news might come "as a surprise" to some, so she " wanted to give everyone a heads up to explain my thinking".

Fisher, who set up the fund management business in 1998, said she is looking for what many people in business try to acheieve which is work/life balance.

"Fisher Funds is my baby, always has been, always will be," she said.

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She says she will maintain an involvement and commitment to the company, but will be putting investing more time in her family and some philantropic pursuits.

"My family are at an age and stage that I'd like to spend more time with them than I have over the past twenty years."

Fisher leaves the company in great shape and will be working hard to find a suitable successor. She says she will stay on board if one hasn't been found in time.

Fisher will remain a director in the company and remain on the board.

A search process for a successor has begun, with the company looking both locally and abroad for a suitable replacement. "We're a little bit particular, so that might take some time," she says.

Just last week Fisher Funds won the FundSource award for Fund Manager of the Year.

The company was lauded for the client centric approach and were named as a finalist across four award categories.

Judges said Fisher Funds "remained a specialist investment manager despite growing its business through acquisitions over the past six years."