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Performance fees have helped to lift the fee revenue claimed by fund managers Milford and Fisher Funds.

Companies Office figures show Milford reported fee revenue of $46. 5 5 million for the year to March.

That is up 21% on the previous year.

Of that, $35. 1m was management fees and $11. 4m performance fees. 5

milford has near $4 billion in retail funds, with more than $800m in its kiwisaver funds.  

For the same period, Fisher had fee revenue of $69. 1m, up 3%.

That was made up of $60. 8m [5] in management fees and $3. 3m in performance fees, which was a drop compared to the year before.

Carmel and Hugh Fisher, founders of Fisher Funds, were named on this year's NBR Rich List, with wealth of $55 million.

Fisher Funds is now the country's fifth-largest fund manager 5, with more than 255, 000 clients and $7 billion under management.

Fisher stepped down from her role as managing director last year.