Announcement

MKTUPDTE: KFL: KFL NAV as at 20/11/19 - $1.5919 02:30pm 
KFL
21/11/2019 14:30
MKTUPDTE
NOT PRICE SENSITIVE
REL: 1430 HRS Kingfish Limited

MKTUPDTE: KFL: KFL NAV as at 20/11/19 - $1.5919

KFL NAV as at 20/11/19 - $1.5919

Date 20/11/2019 13/11/2019
KFL NAV $1.5919 $1.5544
Share price close $1.55 $1.52
Discount 3% 2%

The above net asset value (NAV) is unaudited and net of fees and tax.

The NAV per share is calculated after deducting treasury stock (shares
acquired under the Kingfish buyback programme) - currently nil. A performance
fee payable to the Manager is currently being accrued in the NAV calculation.

The five largest portfolio holdings at 20 November 2019 are approximately as
follows:

The a2 Milk Company 16%
Fisher & Paykel Healthcare 14%
Mainfreight 13%
Infratil 9%
Summerset Group 8%

BACKGROUND

Kingfish is a listed investment company that invests in growing New Zealand
companies. The Kingfish portfolio is managed by Fisher Funds, a specialist
investment manager with a track record of successfully investing in growth
company shares. The aim of Kingfish is to offer investors competitive returns
through capital growth and dividends, and access to a diversified portfolio
of investments through a single tax-efficient investment vehicle. Kingfish
listed on NZX Main Board on 31 March 2004 and may invest in companies that
are listed on a New Zealand stock exchange or unlisted companies.

Contact
Corporate Manager
Kingfish Limited
Tel +64 9 4840352
End CA:00344694 For:KFL Type:MKTUPDTE Time:2019-11-21 14:30:38

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