Spotlight on this ETF’s top holding—Fisher & Paykel

Article Excerpt

Fisher & Paykel is one of the best-known global brands with a New Zealand home base. While many people in Canada and the U.S. may be familiar with Fisher & Paykel appliances, the top holding in the iShares New Zealand ETF with the name Fisher and Paykel is actually a healthcare business. The history of Fisher & Paykel Industries dates back to 1934, when the company was founded in New Zealand by Sir Woolf Fisher and Maurice Paykel. In 2001, the company split into Fisher & Paykel Appliances and Fisher & Paykel Healthcare. In 2002, the Chinese firm Haier bought the appliances business. Fisher & Paykel Healthcare listed on the New Zealand and Australian stock exchanges in 2001 and currently has a market value of about $9 billion U.S. The shares of the company are widely held among institutions such as Mitsubishi UFJ, Blackrock, Norges Bank, and Vanguard. Fisher & Paykel Healthcare has two operating divisions. The Hospital Group provides ventilation and respiratory medical devices…