Fund-vs-fund · International Equities
Amova Global Shares Fund vs Clarity - Capital Group New Perspective Fund
Both are International 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 how they achieve international equities exposure. The Amova Global Shares Fund holds individual company shares directly, with its five largest positions — Nvidia (7.71%), Microsoft (5.42%), Amazon (5.40%), Broadcom (3.58%), and Netflix (3.43%) — each named as discrete line items. The Clarity – Capital Group New Perspective Fund is a fund-of-funds wrapper: approximately 98% of assets sit across two share classes of the Capital Group New Perspective Fund (51.85% and 46.28% respectively), with 1.87% held as NZD cash. Investors in Clarity therefore hold an additional layer of management, and the underlying holdings of the Capital Group vehicle are not directly visible in this snapshot.
Both funds sit in the International Equities category, carry an identical risk indicator of 5 out of 7, and report virtually the same growth-asset allocation of 98.31%. Fund sizes are comparable — Amova at approximately NZD 161.9 million and Clarity at approximately NZD 154.5 million. Annual fund charges are nearly identical at 1.20% and 1.21% respectively, though Clarity's fee applies on top of whatever costs are embedded within the underlying Capital Group vehicle, which this data does not separately disclose. On the five-year return figure, Clarity reports 7.29% against Amova's 6.69%, a difference of 60 basis points; neither fund's data in this snapshot attributes that gap to any specific source.
Always verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
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
- Annual fund charges are within 0.05% of each other (1.20% vs 1.21%).
- 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 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Amova
1.20%
Highest 23% of cohort
Clarity
1.21%
Highest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
Clarity
7.29%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
Clarity
NZ$155m
Upper half by size
| Metric | Amova | Clarity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | 1.21% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 6.69% | 7.29% | Higher is better (past not future) |
| Fund size | NZ$162m | NZ$155m | 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 | InvestNow · Direct | InvestNow · 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 Global Shares Fund
The fund aims to provide investors with a relatively concentrated actively managed investment portfolio of global equities to achieve long term capital growth. This fund invests in a selection of around 40-50 companies from around the world, covering a diverse range of regions and sectors. This fund has a high level of volatility.Full Amova Amova Global Shares Fund profile →
Clarity
Clarity - Capital Group New Perspective Fund
The Fund aims to achieve long-term growth of capital by investing in shares of companies located around the world. The Fund is managed by Capital Group, and favours companies expected to benefit from structural trends in the global economy.Full Clarity Clarity - Capital Group New Perspective Fund profile →
Common questions
What's the difference between the Amova Global Shares Fund and the Clarity - Capital Group New Perspective Fund?
Which fund has lower fees, Amova Global Shares Fund or Clarity - Capital Group New Perspective 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?
