Fund-vs-fund · International Equities
Amova Global Shares FundvsHyperion Global Growth Companies PIE 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.
How much do these two overlap?
They hold 4 of the same securities. If you held both, roughly 18.7% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Amova Global | Hyperion Global | Min weight |
|---|---|---|---|
| Nvidia | 7.71% | 6.68% | 6.68% |
| Amazon.com | 5.40% | 9.83% | 5.40% |
| Microsoft | 5.42% | 4.79% | 4.79% |
| Mastercard | 2.72% | 1.79% | 1.79% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Amova Global Shares Fund
Hyperion Global Growth Companies PIE Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
The most material structural difference between these two funds is cost: Hyperion Global Growth Companies PIE Fund discloses an annual fund charge of 4.38%, compared with 1.20% for the Amova Global Shares Fund — a gap of more than three percentage points that compounds significantly over time regardless of returns.
Risk profile also diverges. Hyperion carries a risk indicator of 6 out of 7, while Amova sits at 5 out of 7, both on the FMA's standardised scale. Both funds hold an identical growth asset allocation of 98.31%, so the higher risk indicator for Hyperion likely reflects greater return volatility rather than a structural difference in defensive positioning. That concentration is visible in the holdings: Hyperion's five largest positions — Tesla (12.48%), Alphabet (11.06%), Meta (10.19%), Amazon (9.83%), and Arm Holdings (7.52%) — are high-conviction, individually weighted bets. Amova's top holdings are more distributed, with Nvidia at 7.71% and no other position above 5.42%.
On performance, Amova discloses a five-year annualised return of 6.69%; Hyperion's five-year return figure is not available in this snapshot. Fund size is broadly comparable: Hyperion at NZD 176.8 million, Amova at NZD 161.9 million.
Neither fund is structured as a KiwiSaver scheme account 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 information.
Comparison generated 2026-05-21 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 Global Shares Fund charges 3.18% lower in annual fund charges (1.20% vs 4.38%).
- 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 84 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 21% of cohort
Hyperion
4.38%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
Hyperion
—
—
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
Hyperion
NZ$177m
Upper half by size
| Metric | Amova | Hyperion | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | 4.38% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 6.69% | — | Higher is better (past not future) |
| Fund size | NZ$162m | NZ$177m | 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. |
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 →
Hyperion
Hyperion Global Growth Companies PIE Fund
The Fund invests primarily in growth-oriented companies primarily listed on a recognised global exchange, at the time of initial investment, and will also have some exposure to cash.Full Hyperion Hyperion Global Growth Companies PIE Fund profile →
Common questions
What's the difference between the Amova Global Shares Fund and the Hyperion Global Growth Companies PIE Fund?
Which fund has lower fees, Amova Global Shares Fund or Hyperion Global Growth Companies PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
