Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Growth Fund vs Mint Diversified 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
The most material structural difference between these two funds is cost and risk profile. The Mint Diversified Growth Fund charges an annual fund charge of 1.20%, compared with 0.95% for the ANZ Investments OneAnswer Balanced Growth Fund — a 25 basis point gap that compounds over time. Despite this cost difference, both funds carry an identical growth-assets allocation of 78.34%, placing them at the same point on the growth-defensive spectrum. However, their risk indicators diverge: Mint sits at 5 on the standard 1–7 scale, while ANZ Investments is rated 4, suggesting Mint's portfolio has historically exhibited greater return volatility even with the same headline growth weighting.
On five-year returns, Mint returned 4.90% per annum against ANZ Investments' 4.57%, a difference of 33 basis points before any fee adjustment. Fund sizes are comparable — NZD 50.4 million (Mint) versus NZD 47.8 million (ANZ Investments). Portfolio construction differs meaningfully: Mint's largest holding is its own Australasian Equity Fund at 13.79%, indicating a fund-of-funds structure for that sleeve, whereas ANZ Investments' top five holdings are all direct securities, each below 1.50%, reflecting broader individual-stock diversification. Both funds hold NVIDIA and Microsoft among their top positions, though at different weights.
Neither fund is listed as a KiwiSaver scheme account product in the data provided; investors should confirm the relevant offer type before proceeding.
Always verify all figures against the source PDS 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 Balanced Growth Fund charges 0.26% lower in annual fund charges (0.95% 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 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
Mint
1.21%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
3.69%
Upper half over 5 years
Mint
2.43%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$46m
Lower half by size
Mint
NZ$46m
Lower half by size
| Metric | ANZ Investments | Mint | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.21% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 3.69% | 2.43% | 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
3
of each fund's top 10
ANZ Investments weight in shared
3.3%
of ANZ Investments OneAnswer Balanced Growth Fund top 10 is shared
Mint weight in shared
6.0%
of Mint Diversified Growth Fund top 10 is shared
| Holding | ANZ Investments | Mint |
|---|---|---|
 Nvidia Corporation US | 1.66% | 2.22% |
 Microsoft Corporation US | 0.93% | 1.92% |
 Amazon Com Inc US | 0.72% | 1.88% |
"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 →
Mint
Mint Diversified Growth Fund
The Fund invests across a range of asset types which includes New Zealand and international equities (including listed property if held), but will also hold cash and fixed interest. The objective of the Fund is to deliver returns in excess of the Consumers Price Index (CPI) by 4.5% per annum, before fees, over the medium to long term. The relevant market index for the Fund is a composite index derived from the underlying asset classes of the Fund.Full Mint Mint Diversified Growth Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Mint
LiveLast verified 2026-05-08
- Quarterly Fund Update330 kB · file fingerprint recorded
- Supporting document648 kB · file fingerprint recorded
- Annual Report361 kB · file fingerprint recorded
- Statement of Investment Policy158 kB · file fingerprint recorded
- Product Disclosure Statement1853 kB · file fingerprint recorded
- Supporting document1425 kB · file fingerprint recorded
- + 2 more on the fund page
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Growth Fund and the Mint Diversified Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Growth Fund or Mint Diversified 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?
