Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Growth FundvsMilford Conservative 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.
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 Balanced Growth Fund
Milford Conservative Fund
What's different at a glance
- Milford Conservative Fund charges 0.08% lower in annual fund charges (0.85% vs 0.93%).
- 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 68 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
0.93%
Lower half of cohort
Milford
0.85%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
4.38%
Upper half over 5 years
Milford
2.50%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$754m
Largest 13% in cohort
Milford
NZ$939m
Largest 8% in cohort
| Metric | ANZ Investments | Milford | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.93% | 0.85% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | 4.38% | 2.50% | Higher is better (past not future) |
| Fund size | NZ$754m | NZ$939m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 23% / 77% | 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
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 →
Milford
Milford Conservative Fund
The Fund’s objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years. It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.Full Milford Milford Conservative Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Milford
LiveLast verified 2026-05-08
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Growth Fund and the Milford Conservative Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Growth Fund or Milford Conservative 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?
