Fund-vs-fund · Australasian Equities
ANZ Investments OneAnswer Australian Share FundvsSummer Australian Equities
ANZ Investments OneAnswer Australian Share Fund (fund size NZ$21.9 million, annual fund charge 1.09%) and Summer Australian Equities (fund size NZ$17.5 million, annual fund charge 1.02%) are both Australasian equities managed funds, as shown on Sorted Smart Investor on 22 May 2026.
How much do these two overlap?
They hold 23 of the same securities. If you held both, roughly 45.5% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | ANZ Investments | Summer Australian | Min weight |
|---|---|---|---|
| BHP Group Ltd | 12.05% | 9.69% | 9.69% |
| COMMONWEALTH BANK OF AUSTRALIA | 8.68% | 7.10% | 7.10% |
| CSL | 5.12% | 3.52% | 3.52% |
| National Australia Bank | 6.08% | 3.35% | 3.35% |
| Rio Tinto | 4.14% | 2.72% | 2.72% |
| Telstra Group | 4.85% | 2.35% | 2.35% |
| GOODMAN GROUP | 3.11% | 2.24% | 2.24% |
| Santos Ltd | 3.14% | 2.13% | 2.13% |
| Westpac Banking Corp | 2.11% | 4.68% | 2.11% |
| Macquarie Group | 1.84% | 2.57% | 1.84% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
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.
ANZ Investments OneAnswer Australian Share Fund
Summer Australian Equities
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
What's different at a glance
- Summer Australian Equities charges 0.07% lower in annual fund charges (1.02% vs 1.09%).
- 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 57 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
Summer
1.02%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
6.25%
Top 20% over 5 years
Summer
8.01%
Top 16% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$22m
Smallest 24% in cohort
Summer
NZ$17m
Smallest 20% in cohort
| Metric | ANZ Investments | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.09% | 1.02% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 6.25% | 8.01% | Higher is better (past not future) |
| Fund size | NZ$22m | NZ$17m | 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. |
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 →
Summer
Summer Australian Equities
The Summer Australian Equities fund invests mostly in Australian shares, and can invest in New Zealand listed shares where the company has meaningful operations in Australia. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.Full Summer Summer Australian Equities profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Australian Share Fund and the Summer Australian Equities?
Which fund has lower fees, ANZ Investments OneAnswer Australian Share Fund or Summer Australian Equities?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
