Fund-vs-fund · International Equities
Amova Global Shares Fund vs India Avenue Equity Fund — H Class
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 in this comparison is data availability: the India Avenue Equity Fund — H Class snapshot carries no disclosed figures for fees, risk indicator, fund size, five-year returns, or portfolio holdings, making a quantitative side-by-side comparison impossible on those dimensions. All figures cited below therefore come solely from the Amova Global Shares Fund's latest Quarterly Fund Update.
Both funds sit within the International Equities category, but only Amova discloses the structural detail needed to assess positioning. Amova Global Shares Fund holds NZ$161.9 million in assets under management, with 98.31% allocated to growth assets — a near-fully-invested equity stance. Its risk indicator is rated 5 on the standard 1–7 scale, reflecting meaningful volatility potential. The fund has returned 6.69% per annum over five years and carries an annual fund charge of 1.20%. Its five largest disclosed holdings are concentrated in large-cap US technology and consumer names: Nvidia Corp (7.71%), Microsoft Corp (5.42%), Amazon.com Inc (5.40%), Broadcom Corp (3.58%), and Netflix Inc (3.43%), suggesting meaningful exposure to US growth-sector dynamics.
India Avenue Equity Fund — H Class, managed by India Avenue, is categorised as International Equities, but its latest QFU data is absent from this snapshot — fees, risk rating, fund size, returns, and holdings are all undisclosed here.
Readers should verify all figures, including any updates to India Avenue's disclosures, against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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
- Amova Global Shares Fund is a NZ PIE (PIR-capped tax). India Avenue Equity Fund — H Class is structured as an Australian Unit Trust — NZ investors pay tax under FIF rules and need to file an annual return.
Where each fund sits in its cohort
Percentile rank vs all 81 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
India Avenue
—
—
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
India Avenue
—
—
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
India Avenue
—
—
| Metric | Amova | India Avenue | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.20% | — | Lower is better |
| Risk indicator (1–7) | 5 | — | Higher = more volatility |
| 5-year return p.a. | 6.69% | — | Higher is better (past not future) |
| Fund size | NZ$162m | — | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | — | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | AU Unit Trust (FIF rules) | 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 →
India Avenue
India Avenue Equity Fund — H Class
Strategy summary not yet ingested.
Full India Avenue India Avenue Equity Fund — H Class profile →Common questions
What's the difference between the Amova Global Shares Fund and the India Avenue Equity Fund — H Class?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
