Fund-vs-fund · Diversified
AMP Balanced Managed Fund vs Foundation Series Balanced Fund
Both are Diversified 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 their fee level. The Foundation Series Balanced Fund discloses an annual fund charge of 0.36%, compared with 0.81% for the AMP Balanced Managed Fund — a gap of 45 basis points that, compounded over time, can materially affect net returns. Both funds sit at risk indicator 4 on the standardised 1–7 scale and share an identical growth assets allocation of 53.15%, placing them in the same diversified, balanced risk band despite their different fee structures.
Portfolio construction diverges significantly. Foundation Series concentrates exposure through five ETF and fund-of-fund wrappers — the two largest being the Vanguard ESG US Stock ETF (29.5%) and the iShares Global Aggregate Bond ESG SRI UCITS ETF (26.5%) — giving it an explicit ESG tilt and a highly concentrated top-five. AMP's top holdings are individual securities and NZ Government inflation-linked bonds, with no single position exceeding 2.01%, suggesting a more broadly distributed underlying portfolio.
On five-year returns, Foundation Series reports 4.77% per annum; this data point is absent from AMP's latest quarterly fund update in this snapshot, so no direct return comparison can be made. Fund size is broadly comparable: AMP at NZD 44.6 million and Foundation Series at NZD 45.5 million.
Both are retail managed fund investments, not KiwiSaver scheme accounts. Always verify fees, returns, and portfolio data against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
Comparison generated 2026-07-05 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
- Foundation Series Balanced Fund charges 0.45% lower in annual fund charges (0.36% vs 0.81%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
AMP
0.81%
Lower half of cohort
Foundation Series
0.36%
Lowest 14% of cohort
5-year return p.a.
Past performance — not a predictor
AMP
—
—
Foundation Series
4.77%
Top 25% over 5 years
Fund size
Larger = more stable, lower close-risk
AMP
NZ$45m
Lower half by size
Foundation Series
NZ$46m
Lower half by size
| Metric | AMP | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.81% | 0.36% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 4.77% | Higher is better (past not future) |
| Fund size | NZ$45m | NZ$46m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 53% / 47% | 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. |
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
AMP
AMP Balanced Managed Fund
The fund has a well-diversified portfolio that has a balance of risk through holding growth assets and an allocation to lower-risk income assets. The fund aims to achieve medium returns, in exchange there will be some movements up and down in the value of your investments.Full AMP AMP Balanced Managed Fund profile →
Foundation Series
Foundation Series Balanced Fund
Aims for mid-range long-run returns by investing in a diversified portfolio with a balance of income and growth assets. The Fund incorporates certain responsible investment considerations and is exposed to investment strategies that seek to limit exposure to companies involved in specific business practices.Full Foundation Series Foundation Series Balanced Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
AMP
LiveLast verified 2026-05-08
Common questions
What's the difference between the AMP Balanced Managed Fund and the Foundation Series Balanced Fund?
Which fund has lower fees, AMP Balanced Managed Fund or Foundation Series Balanced Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
