Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced Fund vs Simplicity Balanced Investment 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. The ANZ Investments OneAnswer Balanced Fund discloses an annual fund charge of 0.90%, while the Simplicity Balanced Investment Fund discloses 0.25% — a gap of 0.65 percentage points that compounds materially over time on any given investment balance.
Both funds sit at risk indicator 4 on the standard 1–7 scale and carry identical growth asset allocations of 53.2%, placing them in the same diversified, balanced-style category. Fund size differs modestly: the ANZ fund holds approximately NZD 927 million versus Simplicity's NZD 738 million.
The five-year return figures diverge. The ANZ OneAnswer Balanced Fund shows 2.96% per annum; the Simplicity Balanced Investment Fund shows 4.34% per annum. Both figures are after fees but past performance is not a reliable indicator of future performance, and the observation period and methodology underlying each QFU figure should be confirmed before comparison.
Top-holdings composition reveals a structural distinction. Simplicity's largest disclosed holding is Simplicity Living Ltd Ordinary Shares at 4.66% — a related-party unlisted property position — while ANZ's largest single line is Nvidia Corporation at 1.28%, with no comparable related-party concentration visible in its top five. Individual stock weights are also notably lower across ANZ's top holdings, suggesting either broader diversification or a different portfolio construction methodology; the QFU data alone cannot fully resolve this.
Neither fund is a KiwiSaver scheme account in this context — both are retail managed funds. Verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- Simplicity Balanced Investment Fund charges 0.65% lower in annual fund charges (0.25% vs 0.90%).
- 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
0.90%
Lower half of cohort
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
2.96%
Lower half over 5 years
Simplicity
4.34%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$927m
Largest 10% in cohort
Simplicity
NZ$738m
Largest 13% in cohort
| Metric | ANZ Investments | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.90% | 0.25% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 2.96% | 4.34% | Higher is better (past not future) |
| Fund size | NZ$927m | NZ$738m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 53% / 47% | 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 | InvestNow · 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
3.1%
of ANZ Investments OneAnswer Balanced Fund top 10 is shared
Simplicity weight in shared
7.3%
of Simplicity Balanced Investment Fund top 10 is shared
| Holding | ANZ Investments | Simplicity |
|---|---|---|
 Nvidia Corporation US | 1.28% | 2.85% |
 Apple Inc US | 1.14% | 2.56% |
 Microsoft Corporation US | 0.72% | 1.92% |
"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 →
Simplicity
Simplicity Balanced Investment Fund
The Balanced Investment Fund provides investors with an exposure to a mix of growth and income assets.Full Simplicity Simplicity Balanced Investment Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Balanced Fund and the Simplicity Balanced Investment Fund?
Which fund has lower fees, ANZ Investments OneAnswer Balanced Fund or Simplicity Balanced Investment 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?
