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. The AMP Growth Managed Fund holds 78.48% in growth assets, placing it firmly in growth territory despite its "Diversified" category label, while the Foundation Series Balanced Fund holds 53.15% in growth assets, a more moderate stance consistent with a balanced mandate. Both carry the same risk indicator of 4, but investors comparing expected volatility profiles should weigh this allocation gap carefully.
On fees, the difference is substantial: AMP charges 0.81% per annum versus Foundation Series at 0.36%, a spread of 45 basis points that compounds meaningfully over time. On five-year returns, Foundation Series discloses 4.77% per annum; AMP's latest QFU does not include a five-year return figure in this snapshot, so a direct performance comparison cannot be made here.
The construction approach also diverges. AMP's portfolio is built from individual securities — Fisher & Paykel Healthcare, NVIDIA, Apple, Auckland Airport, and an NZ inflation-linked bond feature among the top holdings — suggesting active or semi-active stock selection. Foundation Series aggregates exposure through ESG-screened ETFs and managed funds, including the Vanguard ESG US Stock ETF at 29.5% and an iShares ESG bond ETF at 26.5%, pointing to a passive, ESG-tilted wrapper strategy. Neither fund is a KiwiSaver scheme account offering in this context. Fund sizes are broadly comparable at roughly NZD 44–45 million.
Always verify figures against the source PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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$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?
