Kingfish fund covers the small fry

She says people may own say, eight individual shares and then use Kingfish as their ninth share to cover the small and even micro-cap end of the market.

Kingfish is seeking to raise up to $75 million in an IPO ($50 million with up to $25 million on oversubscriptions). Kingfish will then contract management of the money to Fisher Funds Management.

Fisher Funds is already a successful business in the managed fund area. The company currently looks after about $200 million for investors through a series of managed funds and late last year won a mandate to manage money for the multi-billion New Zealand Superannuation Fund.

It is also one of the two fund managers (along with BT Funds Management) that advise the dual listed New Zealand Investment Trust on stock selection.