Fund-vs-fund · Australasian Equities
ANZ Investments OneAnswer Australian Share Fund vs Harbour Australasian Equity Focus Fund
Both are Australasian 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.
Why these two differ
The most material structural difference between these two funds is their portfolio composition within the same Australasian Equities category. The ANZ Investments OneAnswer Australian Share Fund concentrates entirely on Australian-listed companies — its top five holdings are all ASX names including BHP Group (10.55%), Commonwealth Bank of Australia (7.57%), and CSL Limited (6.01%) — giving investors essentially pure Australian equity exposure. The Harbour Australasian Equity Focus Fund, by contrast, blends Australian and New Zealand stocks, with its top five spanning NZX-listed names such as Infratil (8.64%), Mainfreight (7.89%), and Summerset Group (6.43%) alongside Australian miner Rio Tinto (6.18%), reflecting a genuinely trans-Tasman mandate.
Both funds carry a risk indicator of 5 out of 7 and hold near-identical growth asset allocations of 98.31%. Fund size is similar — ANZ at approximately NZD 22.2 million versus Harbour at approximately NZD 26.1 million. Harbour's annual fund charge of 1.21% is 12 basis points higher than ANZ's 1.09%. The five-year return figures diverge significantly in this snapshot: ANZ discloses 8.31% per annum versus Harbour's 0.46% per annum, though the composition differences above mean these returns reflect exposures to different markets over that period and are not a like-for-like comparison. Neither fund is a KiwiSaver scheme account product based on the data provided.
Verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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
- ANZ Investments OneAnswer Australian Share Fund charges 0.12% lower in annual fund charges (1.09% vs 1.21%).
- 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 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
1.09%
Upper half of cohort
Harbour
1.21%
Highest 20% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
6.25%
Top 23% over 5 years
Harbour
1.44%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$22m
Smallest 23% in cohort
Harbour
NZ$21m
Smallest 22% in cohort
| Metric | ANZ Investments | Harbour | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.09% | 1.21% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 6.25% | 1.44% | Higher is better (past not future) |
| Fund size | NZ$22m | NZ$21m | 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 | — | — | 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
ANZ Investments weight in shared
4.1%
of ANZ Investments OneAnswer Australian Share Fund top 10 is shared
Harbour weight in shared
4.8%
of Harbour Australasian Equity Focus Fund top 10 is shared
| Holding | ANZ Investments | Harbour |
|---|---|---|
| RT Rio Tinto Limited AU | 4.14% | 4.79% |
"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
ANZ Investments
ANZ Investments OneAnswer Australian Share Fund
The Australian Share Fund invests mainly in Australian equities. Investments may include equities in companies that are listed or are soon to be listed on the Australian stock exchange, and cash and cash equivalents.The Australian Share Fund aims to achieve a return (after the fund charge and before tax) that over the long-term outperforms the relevant market index.Full ANZ Investments ANZ Investments OneAnswer Australian Share Fund profile →
Harbour
Harbour Australasian Equity Focus Fund
The Fund is an actively managed, high conviction portfolio investing principally in listed Australasian equities. The focus is on delivering strong positive returns through the market cycle by investing in equity positions with no particular attention to an equity benchmark. The Fund is a research focused equity fund. It may have a higher risk profile than traditional core equity funds. We can actively allocate investments between Australasian listed equities, fixed interest and cash. The Fund may also use derivatives to hedge currency and equity risk. The Fund inFull Harbour Harbour Australasian Equity Focus Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 9 more on the fund page
Common questions
What's the difference between the ANZ Investments OneAnswer Australian Share Fund and the Harbour Australasian Equity Focus Fund?
Which fund has lower fees, ANZ Investments OneAnswer Australian Share Fund or Harbour Australasian Equity Focus 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?
