Fund-vs-fund · Diversified
AMP Growth 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 growth asset allocation, which shapes risk and return profile despite both carrying an identical risk indicator of 4. The AMP Growth Managed Fund holds 78.34% in growth assets, positioning it closer to the aggressive end of the diversified spectrum, while the Foundation Series Balanced Fund holds 52.35% — a notably more balanced split between growth and income assets.
Fee structure is also a significant differentiator. The AMP Growth Managed Fund charges an annual fund charge of 0.81%, more than double the Foundation Series Balanced Fund's 0.36%. Over time, this gap compounds materially against returns. On five-year returns, the data is uneven: Foundation Series Balanced Fund discloses a 5-year return of 4.77% per annum; the AMP Growth Managed Fund's five-year return figure is not available in this snapshot.
Portfolio construction differs sharply. AMP holds individual equities — including Fisher & Paykel Healthcare, NVIDIA, and Apple — alongside NZ government inflation-linked bonds, suggesting active or semi-active stock selection. Foundation Series is built almost entirely from pooled ETFs and funds with explicit ESG screening labels, such as the Vanguard ESG US Stock ETF (29.5%) and the iShares Global Aggregate Bond ESG SRI UCITS ETF (26.5%), indicating a passive, ESG-oriented index approach.
Fund sizes are broadly comparable: AMP at approximately NZD 44.2 million and Foundation Series at approximately NZD 45.5 million.
Verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before relying on this comparison.
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
- 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$44m
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$44m | NZ$46m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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 Growth Managed Fund
The fund has a well-diversified portfolio that aims to provide growth, primarily through holding growth assets diversified with a lower allocation to lower-risk income assets. The fund aims to achieve medium to high returns, in exchange there will be larger movements up and down in the value of your investments.Full AMP AMP Growth 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 Growth Managed Fund and the Foundation Series Balanced Fund?
Which fund has lower fees, AMP Growth Managed Fund or Foundation Series Balanced Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
