Amova Corporate Bond Fund vs Harbour NZ Core Fixed Interest Fund

The most material structural difference between these two funds lies in their portfolio construction and resulting concentration. The Harbour NZ Core Fixed Interest Fund holds its five largest positions almost entirely in NZ Government Stock, with the top holding alone at 11.32% of the portfolio and the top five collectively accounting for roughly 34% of assets. The Amova Corporate Bond Fund, by contrast, spreads its top five holdings across Housing NZ bonds, LGFA paper, and corporate or covered bonds from bank and insurance issuers, with no single position exceeding 3.08% — reflecting a more granular, credit-diversified spread rather than a sovereign-heavy core.

On fees, Harbour discloses an annual fund charge of 0.66% versus Amova's 0.70%, a difference of four basis points. Both funds carry an identical risk indicator of 3 (out of 7) and an identical 0.13% allocation to growth assets, placing them in the same risk band under FMA's standardised methodology.

Fund size differs meaningfully: Amova sits at approximately NZD 558 million versus Harbour's NZD 300 million. On five-year returns as reported in each fund's Quarterly Fund Update, Amova shows 1.63% per annum against Harbour's 0.82% per annum, though past performance figures reflect the period captured in each respective QFU snapshot and should not be treated as a reliable guide to future returns.

Neither fund is structured as a KiwiSaver scheme account product based on the data provided here.

Always verify fees, holdings, and return figures against the current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures in this summary.