Fund-vs-fund · Australasian Equities
Amova Concentrated Equity Fund vs Castle Point Trans-Tasman Fund
Both are Australasian Equities 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 portfolio concentration and stock selection, despite both allocating 98.31% to growth assets within the Australasian Equities category. The Amova Concentrated Equity Fund's name signals an intentional high-conviction approach: its largest holding, Infratil Limited, represents 11.9% of the portfolio, with the top five positions (Infratil, Spark New Zealand, Contact Energy, Meridian Energy, and Worley) collectively accounting for roughly 44% of the fund. The Castle Point Trans-Tasman Fund leads with Fisher & Paykel Healthcare at 16.03% — a notably larger single-stock weight — but its top five (Fisher & Paykel, Infratil, Auckland International Airport, Contact Energy, and a2 Milk) sum to approximately 49.5%, suggesting comparable or slightly tighter concentration despite the different composition. Both funds share Infratil and Contact Energy as top-five holdings, indicating some overlap in Australasian equity exposure.
On fees, Castle Point charges 1.08% annually versus Amova's 1.15%, a 7-basis-point difference. Both carry a risk indicator of 5 on the standard 1–7 scale. The five-year return figures disclosed are 0.65% per annum for Amova and 0.91% per annum for Castle Point, though the applicable calculation periods and any interim fee or tax treatment should be confirmed directly. Fund sizes are similarly modest — NZD 13.2 million (Amova) and NZD 12.0 million (Castle Point) — which may carry liquidity considerations. Neither fund is a KiwiSaver scheme account product based on the data provided.
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.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Castle Point Trans-Tasman Fund charges 0.07% lower in annual fund charges (1.08% vs 1.15%).
- 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 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Amova
1.15%
Upper half of cohort
Castle Point
1.08%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Amova
0.65%
Lower half over 5 years
Castle Point
0.91%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$13m
Smallest 15% in cohort
Castle Point
NZ$12m
Smallest 9% in cohort
| Metric | Amova | Castle Point | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.15% | 1.08% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.65% | 0.91% | Higher is better (past not future) |
| Fund size | NZ$13m | NZ$12m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | 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.
Matching holdings
3
of each fund's top 10
Amova weight in shared
28.9%
of Amova Concentrated Equity Fund top 10 is shared
Castle Point weight in shared
20.9%
of Castle Point Trans-Tasman Fund top 10 is shared
| Holding | Amova | Castle Point |
|---|---|---|
 Infratil Limited NZ | 11.90% | 9.92% |
 Contact Energy Limited NZ | 8.13% | 8.03% |
 Spark New Zealand Ltd NZ | 8.85% | 2.95% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Amova
Amova Concentrated Equity Fund
The fund aims to outperform the RBNZ Official Cash Rate plus 5.0% per annum over a rolling three-year period before fees, expenses and taxes. This fund aims to provide investors with concentrated exposure to New Zealand and Australian equity markets from an actively managed investment portfolio.Full Amova Amova Concentrated Equity Fund profile →
Castle Point
Castle Point Trans-Tasman Fund
The Fund invests in New Zealand and Australian Listed Companies and is benchmarked to the S&P/NZX 50 Index (incl Imputation Credits). The performance objective of the Fund is to outperform the benchmark over rolling five-year periods after all fees (and other expenses) but before tax.Full Castle Point Castle Point Trans-Tasman Fund profile →
Common questions
What's the difference between the Amova Concentrated Equity Fund and the Castle Point Trans-Tasman Fund?
Which fund has lower fees, Amova Concentrated Equity Fund or Castle Point Trans-Tasman Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
