Fund-vs-fund · International Equities
Amova Global Shares Fund vs Kernel Global ESG (NZD Hedged) 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.
What's different at a glance
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Kernel Global ESG (NZD Hedged) Fund applies responsible-investment / ESG screening. The other fund does not.
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
Kernel
—
—
5-year return p.a.
Past performance — not a predictor
Amova
6.69%
Lower half over 5 years
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
Amova
NZ$162m
Upper half by size
Kernel
—
—
| Metric | Amova | Kernel | 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) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | Hedged to NZD | 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. |
Sources: Amova on Sorted
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 →
Kernel
Kernel Global ESG (NZD Hedged) Fund
Strategy summary not yet ingested.
Full Kernel Kernel Global ESG (NZD Hedged) Fund profile →Common questions
What's the difference between the Amova Global Shares Fund and the Kernel Global ESG (NZD Hedged) Fund?
Both are international equities funds available to NZ retail investors. Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Does either fund apply responsible-investment screening?
Yes — Kernel Global ESG (NZD Hedged) Fund applies responsible-investment / ESG screening. Amova Global Shares Fund does not. Specific exclusions and engagement policies are documented in each fund's Statement of Investment Policy and Objectives (SIPO).
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
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Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.