Fund-vs-fund · Australasian Equities
Amova Core Equity Fund vs ANZ Investments OneAnswer Australian Share 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 their geographic focus within the same Australasian Equities category. The Amova Core Equity Fund's top five holdings are entirely New Zealand-listed companies — Fisher & Paykel Healthcare (16.09%), Infratil (11.24%), Auckland International Airport (9.43%), Contact Energy (7.74%), and Meridian Energy (6.59%) — suggesting a concentrated NZ-market orientation. The ANZ Investments OneAnswer Australian Share Fund, by contrast, holds exclusively Australian-listed names in its top five, led by BHP Group (12.05%), Commonwealth Bank of Australia (8.68%), National Australia Bank (6.08%), CSL (5.12%), and Telstra (4.85%), indicating a primary Australian equity mandate. Both funds carry a risk indicator of 5 out of 7 and report identical growth asset allocations of 98.31%.
On fees, ANZ Investments charges 1.09% annually versus Amova's 0.95%, a 14-basis-point difference. The five-year return figures diverge more sharply: the ANZ fund records 6.25% per annum against Amova's 0.35%, though this gap largely reflects the different underlying markets rather than manager skill alone, and past returns are not a reliable indicator of future performance. Fund sizes are broadly comparable — Amova at NZD 22.57 million, ANZ at NZD 21.94 million.
Investors comparing these funds should weigh whether they want NZ equity exposure, Australian equity exposure, or a blend, as the category label alone does not resolve that distinction. Always verify current fees, returns, and portfolio composition against each fund's product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any figures here.
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
- Amova Core Equity Fund charges 0.14% lower in annual fund charges (0.95% vs 1.09%).
- 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
0.95%
Lower half of cohort
ANZ Investments
1.09%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Amova
0.35%
Lower half over 5 years
ANZ Investments
6.25%
Top 23% over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$23m
Lower half by size
ANZ Investments
NZ$22m
Smallest 23% in cohort
| Metric | Amova | ANZ Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.09% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.35% | 6.25% | Higher is better (past not future) |
| Fund size | NZ$23m | NZ$22m | 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.
What each fund says it does
Amova
Amova Core Equity Fund
The fund aims to outperform the S&P/NZX 50 Index Gross (with Imputation Credits) by 3.00% p.A. Over a rolling three year period before fees, expenses and taxes. This fund aims to provide investors with an exposure to New Zealand and Australian equity markets from an actively managed investment portfolio with potential for growth of income and capital.Full Amova Amova Core Equity Fund profile →
ANZ Investments
ANZ Investments OneAnswer Australian Share Fund
The Australian Share Fund invests mainly in Australian equities. Investments may include equities in companies that are listed or are soon to be listed on the Australian stock exchange, and cash and cash equivalents.The Australian Share Fund aims to achieve a return (after the fund charge and before tax) that over the long-term outperforms the relevant market index.Full ANZ Investments ANZ Investments OneAnswer Australian Share Fund profile →
Common questions
What's the difference between the Amova Core Equity Fund and the ANZ Investments OneAnswer Australian Share Fund?
Which fund has lower fees, Amova Core Equity Fund or ANZ Investments OneAnswer Australian Share 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?
