Fund-vs-fund · Australasian Equities
Amova Core Equity Fund vs TAHITO Te Tai o Rehua 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 investment philosophy and resulting portfolio construction. TAHITO Te Tai o Rehua Fund is managed according to a kaupapa Māori framework, applying indigenous values-based screening to stock selection — a methodology distinct from the Amova Core Equity Fund, which applies no such disclosed screening criteria. Both sit in the Australasian Equities category with identical growth asset allocations of 98.31% and a risk indicator of 5 out of 7.
Fee levels differ meaningfully: Amova discloses an annual fund charge of 0.95%, while TAHITO discloses 1.26% — a 31 basis point gap that compounds over time. On the five-year return figure disclosed in each fund's latest Quarterly Fund Update, TAHITO shows 1.77% per annum against Amova's 0.35%, though these figures reflect past performance and the periods or methodologies underlying each calculation should be verified independently before drawing conclusions.
Portfolio concentration also diverges. Amova's top five holdings account for roughly 51% of the fund, led by Fisher & Paykel Healthcare at 16.09%, indicating a more concentrated large-cap Australasian tilt. TAHITO's top five represent approximately 31%, with no single holding above 8.28%, suggesting broader diversification across its screened universe. Fund sizes are comparable — Amova at NZD 22.6 million and TAHITO at NZD 26.9 million.
Investors should verify all figures, including the applicable fee structures and return calculation periods, 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
- Amova Core Equity Fund charges 0.31% lower in annual fund charges (0.95% vs 1.26%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- TAHITO Te Tai o Rehua Fund applies responsible-investment / ESG screening. The other fund does not.
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
TAHITO
1.26%
Highest 16% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
0.35%
Lower half over 5 years
TAHITO
1.77%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$23m
Lower half by size
TAHITO
NZ$27m
Lower half by size
| Metric | Amova | TAHITO | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.26% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.35% | 1.77% | Higher is better (past not future) |
| Fund size | NZ$23m | NZ$27m | 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 | Yes | 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
24.5%
of Amova Core Equity Fund top 10 is shared
TAHITO weight in shared
14.9%
of TAHITO Te Tai o Rehua Fund top 10 is shared
| Holding | Amova | TAHITO |
|---|---|---|
 Spark New Zealand Ltd NZ | 4.99% | 6.68% |
 Fisher & Paykel Healthcare NZ | 16.09% | 4.33% |
 Summerset Group Holdings Ltd NZ | 3.43% | 3.90% |
"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 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 →
TAHITO
TAHITO Te Tai o Rehua Fund
The Fund is an indigenous ethical and sustainable fund. The Fund Uses positive Environment, Social and Governance (ESG) integrated screens in selecting investments. Māori indigenous values and principles serve as the foundation to the Fund’s philosophy and investment selection process. The Fund will provide actively managed exposure to a portfolio of primarily New Zealand and Australian companies that have been selected in accordance with the TAHITO investment philosophy. The Fund aims to generate a better return than the benchmark over the medium to long term.Full TAHITO TAHITO Te Tai o Rehua Fund profile →
Common questions
What's the difference between the Amova Core Equity Fund and the TAHITO Te Tai o Rehua Fund?
Which fund has lower fees, Amova Core Equity Fund or TAHITO Te Tai o Rehua Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
