Fund-vs-fund · International Equities
Antipodes Global Fund – Long (PIE)vsPie Growth UK & Europe 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.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Antipodes Global Fund – Long (PIE)
Pie Growth UK & Europe Fund
What's different at a glance
- Antipodes Global Fund – Long (PIE) charges 0.86% lower in annual fund charges (0.99% vs 1.85%).
- 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 84 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Antipodes
0.99%
Upper half of cohort
Pie Funds
1.85%
Highest 4% of cohort
5-year return p.a.
Past performance — not a predictor
Antipodes
13.09%
Top 13% over 5 years
Pie Funds
0.98%
Bottom 6% over 5 years
Fund size
Larger = more stable, lower close-risk
Antipodes
NZ$138m
Upper half by size
Pie Funds
NZ$126m
Upper half by size
| Metric | Antipodes | Pie Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.99% | 1.85% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 13.09% | 0.98% | Higher is better (past not future) |
| Fund size | NZ$138m | NZ$126m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 78% / 22% | 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
Antipodes
Antipodes Global Fund – Long (PIE)
The fund invests in the Antipodes Global Fund - Long - UCITS (underlying fund) and cash or cash equivalent securities. The underlying fund's investment exposure is predominantly to a broad range of international shares listed on stock exchanges in developed and emerging markets. The underlying fund may use exchange traded derivatives for risk management purposes and to achieve equity exposure.Full Antipodes Antipodes Global Fund – Long (PIE) profile →
Pie Funds
Pie Growth UK & Europe Fund
The Pie Growth UK & Europe Fund seeks to provide investors with long term capital growth by investing predominantly in a concentrated portfolio of hand-picked listed UK and European Smaller Companies, where Pie Funds considers value is greatest and the opportunity of earnings growth is high. The Pie Growth UK & Europe Fund may also invest in other types of financial products such as cash and unlisted equities.Full Pie Funds Pie Growth UK & Europe Fund profile →
Common questions
What's the difference between the Antipodes Global Fund – Long (PIE) and the Pie Growth UK & Europe Fund?
Which fund has lower fees, Antipodes Global Fund – Long (PIE) or Pie Growth UK & Europe Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
