Fisher Funds Management, which manages $6.9 billion on behalf of more than 250,000 investors, almost doubled the dividend paid to its owners in the last financial year, with directors sharing a dividend pot of $10.3 million, its annual report shows.

The total dividend payment rose to $30m from $16m, a rise of just over 46 per cent. It is the equivalent of $1982 per share. Some 34 per cent of the company or 5219 shares, are held by directors. The annual report shows that the directors sold 2046 shares to TSB Group Investments, suggesting a dividend payment of just over $4m.

North Shore-based Fisher Funds is New Zealand's fifth-largest manager of funds and the fifth-biggest provider of KiwiSaver products. Funds under management grew to $6.9b from $6.6b in the 2015 financial year, a rise of 4.3 per cent.

In the 12 months ended July 31, its NZ Growth Fund was the best performer, rising 20.1 per cent, according to the Fisher Funds website.


The fund manager's income from fees rose 8.8 per cent to $66.8m in the 12 months ended March 31, with performance fees rising 38.6 per cent to $8.7m.

Net profit rose 10.1 per cent to $24.8m while debt fell to about $26m from $32m, a drop of 19 per cent as Fisher switched banker and moved to borrowing at a floating rate.