Fund-vs-fund · Diversified
ACI Growth Fund vs Lifetime Balanced 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 between these two funds is their asset allocation. The ACI Growth Fund holds 78.48% in growth assets, placing it firmly in growth territory despite its "Diversified" category label, while the Lifetime Balanced Fund sits at 53.15% growth assets, a positioning more consistent with a conventional balanced mandate. Both carry a risk indicator of 4, yet this shared rating masks meaningfully different exposure profiles for investors focused on defensive versus growth tilts.
On fees, the gap is notable: ACI Growth Fund discloses an annual fund charge of 1.61%, compared with 0.99% for the Lifetime Balanced Fund — a 62 basis point difference that compounds over time regardless of which direction markets move.
Fund size is broadly comparable, with Lifetime Balanced at approximately NZD 9.57 million and ACI Growth at approximately NZD 7.66 million, both relatively small pools that investors may wish to factor into liquidity and scale considerations.
Portfolio construction differs in approach. ACI Growth Fund's top holdings are concentrated in Dimensional and Smartshares vehicles, with a notable 13.3% allocation to emerging markets and a direct Apple Inc position. Lifetime Balanced Fund's largest holdings are split between hedged and unhedged global equity ESG funds and a 15.33% allocation to a New Zealand fixed interest fund, reflecting its lower growth-asset target.
Five-year return data is not available for either fund in this snapshot, so return-based comparison is not possible here.
Always verify current fees, holdings, and fund details against each fund's 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
- Lifetime Balanced Fund charges 0.62% lower in annual fund charges (0.99% vs 1.61%).
- 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
1.61%
Highest 4% of cohort
Lifetime
0.99%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ACI
—
—
Lifetime
—
—
Fund size
Larger = more stable, lower close-risk
ACI
NZ$8m
Smallest 14% in cohort
Lifetime
NZ$10m
Smallest 17% in cohort
| Metric | ACI | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.61% | 0.99% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$8m | NZ$10m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 53% / 47% | 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. |
Portfolio overlap
How many top-10 positions both funds hold, and at what weight. Computed from each fund's most recently disclosed top-10 holdings — exact-name matched (Microsoft Corp. = Microsoft Corporation), with a Cash / Cash & Equivalents collapse rule.
What each fund says it does
ACI
ACI Growth Fund
The Fund invests predominantly in growth assets such as New Zealand, Australian, international shares and property but includes some income assets. The allocations include a bias towards international diversification, and exposure to these asset classes is achieved by primarily investing in DFA Australia Limited (Dimensional) funds, utilising their Sustainability Trusts where available. Certain underlying Dimensional funds have an increased exposure to shares in small companies, value companies and companies with higher profitability with the objective of benefittFull ACI ACI Growth Fund profile →
Lifetime
Lifetime Balanced Fund
Invests primarily in growth assets with a moderate exposure to income assets. Expected to experience medium to high volatility.Full Lifetime Lifetime Balanced Fund profile →
Common questions
What's the difference between the ACI Growth Fund and the Lifetime Balanced Fund?
Which fund has lower fees, ACI Growth Fund or Lifetime Balanced Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
