# Fonterra Shareholders' Fund (NZX:FSF)

**Exchange:** NZX (XNZE)
**Sector:** Consumer Staples
**ISIN:** NZFSFE0001S5
**Financial year-end:** June

## Overview

Fonterra Shareholders' Fund is a closed-end fund that provides non-farmer investors with economic rights equivalent to holding Fonterra Co-operative Group shares. The fund units trade on the NZX, offering exposure to Fonterra's global dairy operations.

## Market

- **Last close:** NZ$7.20 (2026-06-11)
- **Market cap:** NZ$901.2M (2026-06-11)

## Latest annual results (FY2025)

- **Revenue:** NZ$26.4M
- **Net profit:** NZ$0.0M
- **EPS:** 0c
- **Total assets:** NZ$751.4M
- **Net margin:** 0.0%

All figures sourced from the company's most recent annual report. Monetary values in New Zealand dollars.

## Latest dividend

- **Ex-date:** 2023-08-15
- **Amount:** 50c per share (NZD)

## Governance

- **Governance Risk Score (NZXplorer methodology):** 60 — Good (calculated 2026-06-11T16:02:23.455+00:00)
- **Board size:** 20 directors, 45% independent
- **Chair:** [Mary Jane Daly](https://nzxplorer.co.nz/people/mary-jane-daly-dup)
- **CEO:** Theo Spierings (Chief Executive)

### Board of directors (20)

- [Mary Jane Daly](https://nzxplorer.co.nz/people/mary-jane-daly-dup) — Chair
- [Alastair Hercus](https://nzxplorer.co.nz/people/alastair-hercus) — Independent
- [Alistair Field](https://nzxplorer.co.nz/people/alistair-field) — Independent
- [Ashley James Waugh](https://nzxplorer.co.nz/people/ashley-james-waugh)
- [Blue Read](https://nzxplorer.co.nz/people/blue-read)
- [Bruce Hassall](https://nzxplorer.co.nz/people/bruce-hassall) — Independent
- [Carlie Eve](https://nzxplorer.co.nz/people/carlie-eve) — Independent
- [Catherine Agnes Quinn ONZM](https://nzxplorer.co.nz/people/catherine-agnes-quinn-onzm) — Independent
- [David Jackson](https://nzxplorer.co.nz/people/david-jackson)
- [David MacLeod](https://nzxplorer.co.nz/people/david-macleod)
- [Holly Kramer](https://nzxplorer.co.nz/people/holly-kramer) — Independent
- [Ian Farrelly](https://nzxplorer.co.nz/people/ian-farrelly)
- [John Nicholls](https://nzxplorer.co.nz/people/john-nicholls)
- [John Waller](https://nzxplorer.co.nz/people/john-waller)
- [John Wilson](https://nzxplorer.co.nz/people/john-wilson)
- [Judith Swales](https://nzxplorer.co.nz/people/judith-swales)
- [Kim Ellis](https://nzxplorer.co.nz/people/kim-ellis) — Independent
- [Malcolm Bailey](https://nzxplorer.co.nz/people/malcolm-bailey)
- [Michelle Pye](https://nzxplorer.co.nz/people/michelle-pye-215) — Independent
- [Sir Ralph Norris](https://nzxplorer.co.nz/people/ralph-norris) — Independent

## Latest NZX announcement

- **Monthly Allotment / Redemption Notice** (2026-06-02, SECISSUE)
- Source: https://www.nzx.com/announcements/473738

## Data freshness

- Share price: as of 2026-06-11
- Financials: FY2025 annual results
- Latest dividend: ex-date 2023-08-15
- Governance Risk Score: calculated 2026-06-11
- Board roster: current appointments as of 2026-06-12
- Latest announcement: 2026-06-02

## More data

- Company page: https://nzxplorer.co.nz/companies/fonterra-shareholders-fund
- Structured facts (JSON): https://nzxplorer.co.nz/api/v1/companies/FSF/facts.json
- Full detail API: https://nzxplorer.co.nz/api/v1/companies/FSF?include=all
- Company website: https://www.fonterra.com
- NZX page: https://www.nzx.com/companies/FSF

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Published by [NZXplorer](https://nzxplorer.co.nz). Canonical: https://nzxplorer.co.nz/companies/fonterra-shareholders-fund. Data licence: CC BY 4.0 with attribution to NZXplorer + NZX as primary disclosure source. Generated 2026-06-12T06:45:49.968Z.