Fund-vs-fund · Diversified
AMP Balanced Managed Fund vs Octagon 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 difference between these two funds is cost. The Octagon Balanced Fund charges an annual fund fee of 1.17%, compared with 0.81% for the AMP Balanced Managed Fund — a gap of 36 basis points that compounds meaningfully over time on equivalent balances. Both funds sit at risk indicator 4 on the standard 1–7 scale and carry an identical growth asset allocation of 52.35%, placing them in the same diversified, balanced risk band.
On performance, the data is asymmetric: Octagon discloses a five-year annualised return of 3.83%, while AMP's five-year return figure is absent from our current snapshot and cannot be compared directly. Investors requiring a like-for-like performance track record should consult AMP's latest Quarterly Fund Update on FMA Disclose directly.
Fund size is broadly similar — Octagon at approximately NZD 39.6 million, AMP at approximately NZD 44.6 million — suggesting neither fund is materially larger in scale.
Portfolio construction differs in character. Octagon's largest disclosed holding is the Hunter Global Fixed Interest Fund at 18.85%, indicating a pooled, multi-layer approach to fixed income exposure, with ESG-screened Vanguard ETFs appearing in the equity sleeve. AMP's disclosed holdings are more granular, featuring direct positions in individual equities such as NVIDIA Corp and Apple Inc, alongside New Zealand Government inflation-linked bonds. Fisher & Paykel Healthcare Corporation Limited appears among the top five holdings in both funds.
Always verify these details against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
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
- AMP Balanced Managed Fund charges 0.36% lower in annual fund charges (0.81% vs 1.17%).
- 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
Octagon
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
AMP
—
—
Octagon
3.18%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
AMP
NZ$45m
Lower half by size
Octagon
NZ$37m
Lower half by size
| Metric | AMP | Octagon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.81% | 1.17% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 3.18% | Higher is better (past not future) |
| Fund size | NZ$45m | NZ$37m | 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.
Matching holdings
1
of each fund's top 10
AMP weight in shared
2.0%
of AMP Balanced Managed Fund top 10 is shared
Octagon weight in shared
1.9%
of Octagon Balanced Fund top 10 is shared
| Holding | AMP | Octagon |
|---|---|---|
 Fisher & Paykel Healthcare Corporation Limited NZ | 2.01% | 1.87% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
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 →
Octagon
Octagon Balanced Fund
The Balanced Fund invests across multiple asset classes. Investors can expect moderate to high levels of movement up and down in value. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark.Full Octagon Octagon Balanced Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Common questions
What's the difference between the AMP Balanced Managed Fund and the Octagon Balanced Fund?
Which fund has lower fees, AMP Balanced Managed Fund or Octagon Balanced Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
