Barramundi skinned in market

The Fisher Funds managed listed Australian equities trust, Barramundi (NZX: BRM) has seen its annual profit fall 50% to $2.7 million.

The result includes gains on investments of $3mill including the impact of foreign currency, dividend and interest income of $2.7m, less operating expenses and tax of $3 mill.

Barramundi’s gross performance of 6.0% for the financial year lagged the benchmark index which was up 14.7% over the same period.

Barramundi chairman Alistair Ryan said: “While the Australian share market performed strongly over the past year, the gains were not evenly distributed, with the banking and mining sectors enjoying the lion’s share of performance."