Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Growth Fund vs ANZ Investments OneAnswer Growth Fund
Both are Diversified 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
Both funds are managed by ANZ Investments under the OneAnswer platform, share an identical annual fund charge of 0.95%, carry the same risk indicator of 4 out of 7, and sit in the Diversified category — making the five-year return differential the most material structural difference visible in this snapshot. The ANZ Investments OneAnswer Balanced Growth Fund returned 4.57% per annum over five years, compared with 3.69% for the ANZ Investments OneAnswer Growth Fund, a gap of 0.88 percentage points despite nearly identical growth asset allocations (78.34% versus 78.48% respectively). That near-identical risk and fee profile, combined with the return divergence, suggests differences in underlying asset selection or tactical positioning rather than broad asset class weighting.
On holdings, the Balanced Growth Fund's top five includes iShares Core S&P 500 ETF, implying some passive index exposure at that position, while the Growth Fund replaces this with Infratil Ltd, suggesting a tilt toward direct NZ infrastructure. Both funds share Nvidia, Apple, Fisher and Paykel Healthcare, and Microsoft in their top five, with the Growth Fund holding slightly higher weights in each. Fund size is comparable: NZD 47.8 million versus NZD 45.6 million.
Neither fund is a KiwiSaver scheme account product based on the data provided; investors should confirm the applicable structure. The PDS URL appears identical for both funds in this snapshot, which may reflect a combined product disclosure statement — readers should verify each fund's specific terms and the latest quarterly fund update directly on FMA Disclose before relying on any figure here.
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
- Annual fund charges are within 0.05% of each other (0.95% vs 0.95%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.95%
Lower half of cohort
ANZ Investments
0.95%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
3.69%
Upper half over 5 years
ANZ Investments
3.69%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$46m
Lower half by size
ANZ Investments
NZ$46m
Lower half by size
| Metric | ANZ Investments | ANZ Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 0.95% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 3.69% | 3.69% | Higher is better (past not future) |
| Fund size | NZ$46m | NZ$46m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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.
Matching holdings
10
of each fund's top 10
ANZ Investments weight in shared
10.6%
of ANZ Investments OneAnswer Balanced Growth Fund top 10 is shared
ANZ Investments weight in shared
10.6%
of ANZ Investments OneAnswer Growth Fund top 10 is shared
| Holding | ANZ Investments | ANZ Investments |
|---|---|---|
 Nvidia Corporation US | 1.66% | 1.66% |
 Apple Inc US | 1.48% | 1.48% |
| FA Fisher and Paykel Healthcare NZ | 1.46% | 1.46% |
| F3 FNMA 30Yr Conventional 150534 0.00 TBA US | 1.05% | 1.05% |
 Microsoft Corporation US | 0.93% | 0.93% |
| BD Bank Deposit (USD BNP) US | 0.90% | 0.90% |
 Infratil Ltd NZ | 0.83% | 0.83% |
 Auckland International Airport NZ | 0.82% | 0.82% |
 Contact Energy Ltd NZ | 0.77% | 0.77% |
 Amazon Com Inc US | 0.72% | 0.72% |
"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 Balanced Growth Fund
The Balanced Growth Fund invests mainly in growth assets (equities, listed property and listed infrastructure), with some exposure to income assets (cash and cash equivalents and fixed interest). The fund may also invest in alternative assets.The Balanced Growth Fund aims to achieve (after the fund charge and before tax) over the long-term moderate to high returns, allowing for moderate to large ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Balanced Growth Fund profile →
ANZ Investments
ANZ Investments OneAnswer Growth Fund
The Balanced Growth Fund invests mainly in growth assets (equities, listed property and listed infrastructure), with some exposure to income assets (cash and cash equivalents and fixed interest). The fund may also invest in alternative assets.The Balanced Growth Fund aims to achieve (after the fund charge and before tax) over the long-term moderate to high returns, allowing for moderate to large ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Growth Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Growth Fund and the ANZ Investments OneAnswer Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Growth Fund or ANZ Investments OneAnswer Growth 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?
