Fund-vs-fund · International Equities
AMP International Shares Managed Fund vs Kernel World ex-US 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
- Kernel World ex-US Fund charges 0.54% lower in annual fund charges (0.25% vs 0.79%).
- 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 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
AMP
0.79%
Upper half of cohort
Kernel
0.25%
Lowest 16% of cohort
5-year return p.a.
Past performance — not a predictor
AMP
—
—
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
AMP
NZ$11m
Smallest 9% in cohort
Kernel
NZ$9m
Smallest 7% in cohort
| Metric | AMP | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.79% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$11m | NZ$9m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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 | — | Unhedged | 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 | InvestNow · 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 International Shares Managed Fund
This is a single sector fund with exposure to a diversified international equities portfolio. The fund aims to achieve long term capital growth through exposure to equities of companies listed on stock exchanges around the world.Full AMP AMP International Shares Managed Fund profile →
Kernel
Kernel World ex-US Fund
The Kernel World ex-US Fund's investment objective is to provide a return (before tax, fees and expenses) that closely matches the return on the S&P World Ex-U.S., Controversial Weapons and Tobacco (NZD) Index.Full Kernel Kernel World ex-US Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Common questions
What's the difference between the AMP International Shares Managed Fund and the Kernel World ex-US Fund?
Which fund has lower fees, AMP International Shares Managed Fund or Kernel World ex-US Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
