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 exclusively on Australian large-caps, with its top five holdings — BHP Group (12.05%), Commonwealth Bank of Australia (8.68%), National Australia Bank (6.08%), CSL (5.12%), and Telstra (4.85%) — reflecting a market-cap-weighted tilt toward Australian resources and financials. The Harbour Australasian Equity Focus Fund takes a markedly different approach, holding primarily New Zealand mid-cap names: Infratil (9.54%), Scales NZ (8.72%), A2 Milk (8.38%), Mainfreight (8.11%), and Summerset Group (7.79%), suggesting an active, conviction-based selection style rather than broad market replication.
Both funds carry a risk indicator of 5 and near-identical growth asset allocations of 98.31%. Their fund sizes are comparable — ANZ at NZD 21.9 million, Harbour at NZD 20.9 million. The ANZ fund charges 1.09% annually versus Harbour's 1.21%, a 12 basis-point difference. The five-year return figures diverge significantly: ANZ discloses 6.25% per annum against Harbour's 1.44%, though past performance reflects different underlying market exposures — Australian versus predominantly New Zealand equities — and is not indicative of future returns.
Both funds are not KiwiSaver scheme accounts based on the data provided. Readers should verify all figures, including fees and returns, against each fund's current 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
- 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
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?
