WARREN COUILLAULT Chief investment officer for fund manager Fisher Funds
How would you describe 2007 for Fisher Funds?
A good year overall. Although weak market conditions affected our various fund returns this year, we successfully established our KiwiSaver Scheme and our international investment offer.
What wasthe company's greatest achievement?
Successful initial execution of our international strategy: after an extensive search we found and employed a superb international fund manager and analyst who are a perfect fit with the existing investment team.
What was the company's greatest disappointment?
Fund returns have been negatively affected in the second half of the year as pessimism has taken grip on financial markets. The high-quality companies in which we invest have growth opportunities ahead, which are not reflected in share prices.
What will be the major challenges in 2008?
Restoring investor confidence in the wake of worldwide credit jitters, market volatility and finance company collapses here in NZ. The high NZ dollar continues to be an issue for exporting and offshore companies.
What was the most interesting business story of 2007?
I think the most interesting NZ business story this year has been the takeover. It's not often that NZ sees takeover activity in many large listed companies (ie Auckland Airport, The Warehouse and Sky City) all at the same time.
