Fund-vs-fund · Diversified
ACI Conservative Fund vs Fisher Funds Balanced Strategy 45/55 Fund
Both are Diversified funds available to NZ retail investors. Numbers below are sourced from the FMA Disclose register via Sorted Smart Investor and reflect the latest published quarterly fund updates.
Why these two differ
The most material structural difference in this comparison is data availability: Fisher Funds Balanced Strategy 45/55 Fund returns no fee, risk indicator, fund size, growth asset allocation, or holdings data in our current snapshot, making a quantitative side-by-side comparison largely one-sided. Readers should treat the Fisher Funds entries here as unverified pending the latest Quarterly Fund Update on FMA Disclose.
On the ACI Conservative Fund, the disclosed picture is clearer. It carries a risk indicator of 4 (on the standard 1–7 scale), an annual fund charge of 1.50%, and a fund size of approximately NZD 4.39 million — a relatively small pool. Growth assets sit at 23.37%, consistent with a conservative positioning. The largest single holding is Dimensional Global Bond Sustain Trust AUD Class at 42.65%, followed by Dimensional Two Year Sustain Fixed Interest Trust at 18.77%, with BNZ cash comprising a further 8.41%. The portfolio leans heavily toward short-to-medium duration fixed interest and cash, with modest equity and real estate exposure through Dimensional vehicles. Neither fund discloses a five-year return figure in our snapshot.
Both sit in the Diversified category. The Fisher Funds fund name references a 45/55 growth-to-income split, which would imply a materially higher growth asset weighting than ACI's 23.37%, but no QFU data is available to confirm this.
Verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Comparison generated 2026-07-05 from each fund's FMA Disclose QFU facts as at that date. If the underlying facts change, this narrative is withheld until it is regenerated — the tables on this page always reflect the current data.
What's different at a glance
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Where each fund sits in its cohort
Percentile rank vs all 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ACI
1.50%
Highest 7% of cohort
Fisher Funds
—
—
5-year return p.a.
Past performance — not a predictor
ACI
—
—
Fisher Funds
—
—
Fund size
Larger = more stable, lower close-risk
ACI
NZ$4m
Smallest 10% in cohort
Fisher Funds
—
—
| Metric | ACI | Fisher Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.50% | — | Lower is better |
| Risk indicator (1–7) | 4 | — | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$4m | — | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | — | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | No | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
What each fund says it does
ACI
ACI Conservative Fund
Exposure to asset classes is achieved by primarily investing in DFA Australia Limited (Dimensional) funds, utilising their Sustainability Trusts where available. The allocations include a bias towards international diversification. Certian underlying Dimensional funds have an increased exposure to shares in small companies, value companies and companies with higher profitability with the objective of benefitting from a premium return from these companies over time. Such premiums are not always present year on year, which can drive shorter term differences in retuFull ACI ACI Conservative Fund profile →
Fisher Funds
Fisher Funds Balanced Strategy 45/55 Fund
Strategy summary not yet ingested.
Full Fisher Funds Fisher Funds Balanced Strategy 45/55 Fund profile →Common questions
What's the difference between the ACI Conservative Fund and the Fisher Funds Balanced Strategy 45/55 Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
