Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Fund vs Booster Socially Responsible High 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 their growth asset allocation. The Booster Socially Responsible High Growth Fund holds 98.37% in growth assets, placing it firmly at the aggressive end of the diversified spectrum and carrying a risk indicator of 5 out of 7. The ANZ Investments OneAnswer Balanced Fund allocates 53.15% to growth assets and sits at risk indicator 4, reflecting a more moderate risk profile consistent with its "Balanced" label.
This divergence in asset mix is reflected in the five-year return figures: Booster's fund returned 6.76% per annum against ANZ's 2.96%, though past performance does not indicate future returns and the higher-growth positioning also implies greater exposure to downside volatility over shorter horizons.
On fees, Booster charges an annual fund charge of 1.35%, compared with 0.90% for the ANZ fund — a 45 basis point difference that compounds meaningfully over time. Fund size is broadly comparable: ANZ at approximately $927 million and Booster at approximately $873 million.
The Booster fund's PDS identifies it as a KiwiSaver scheme fund, meaning it is accessed through your KiwiSaver scheme account; the ANZ OneAnswer fund sits within a managed investment scheme that may be available outside KiwiSaver — investors should confirm the relevant offer structure.
Both funds share exposure to Nvidia, Apple, and Fisher & Paykel Healthcare among top holdings, though Booster's concentrations are notably higher. Booster's investment universe is also explicitly screened under a socially responsible investment mandate, which ANZ's fund does not appear to disclose equivalently.
Verify all details 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 Balanced Fund charges 0.45% lower in annual fund charges (0.90% vs 1.35%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Booster Socially Responsible High Growth Fund applies responsible-investment / ESG screening. The other fund does not.
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
0.90%
Lower half of cohort
Booster
1.35%
Highest 15% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
2.96%
Lower half over 5 years
Booster
6.76%
Top 11% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$927m
Largest 10% in cohort
Booster
NZ$873m
Largest 11% in cohort
| Metric | ANZ Investments | Booster | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.90% | 1.35% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 2.96% | 6.76% | Higher is better (past not future) |
| Fund size | NZ$927m | NZ$873m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 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 | Yes | 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
4
of each fund's top 10
ANZ Investments weight in shared
3.8%
of ANZ Investments OneAnswer Balanced Fund top 10 is shared
Booster weight in shared
10.3%
of Booster Socially Responsible High Growth Fund top 10 is shared
| Holding | ANZ Investments | Booster |
|---|---|---|
 Nvidia Corporation US | 1.28% | 3.36% |
 Apple Inc US | 1.14% | 2.87% |
 Microsoft Corporation US | 0.72% | 2.34% |
 Infratil Ltd NZ | 0.62% | 1.74% |
"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 Fund
The Balanced Fund invests in similar amounts of income assets (cash and cash equivalents and fixed interest) and growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets.The Balanced Fund aims to achieve (after the fund charge and before tax) over the long term moderate returns, allowing for moderate ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Balanced Fund profile →
Booster
Booster Socially Responsible High Growth Fund
The Socially Responsible High Growth Fund is suited to investors who seek potentially higher returns on average over long term periods (ten years plus), allowing for short to medium term ups and downs, whilst excluding investments which do not satisfy certain socially responsible investment criteria. We aim to achieve this by investing predominantly in growth assets, with little or no allocation to income assets, and the application of our Responsible Investment Policy.Full Booster Booster Socially Responsible High Growth Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Fund and the Booster Socially Responsible High Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Fund or Booster Socially Responsible High Growth Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
