Fund-vs-fund · Diversified
ANZ Investments OneAnswer Balanced FundvsSimplicity Balanced Investment Fund
ANZ Investments OneAnswer Balanced Fund (fund size NZ$927.1 million, annual fund charge 0.90%) and Simplicity Balanced Investment Fund (fund size NZ$737.7 million, annual fund charge 0.25%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; Simplicity Balanced Investment Fund's 1-year return after fees and tax was 7.82% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
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 Fund
Simplicity Balanced Investment Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
Both funds target balanced exposure with identical risk indicators (4) and growth asset weightings (53.15%), but differ materially in cost structure and recent performance. Simplicity Balanced Investment Fund charges 0.25% annually, while ANZ Investments OneAnswer Balanced Fund charges 0.90%—a 0.65 percentage point gap that compounds over time. Over the five-year period, this cost difference correlates with divergent returns: Simplicity delivered 4.34% annualised, compared to ANZ's 2.96%. Simplicity holds $737.7 million in assets; ANZ holds $927.1 million.
A notable structural distinction appears in top holdings disclosure. Simplicity's largest single position is Simplicity Living Ltd Ordinary Shares at 4.66%, followed by cash (3.13%) and individual US equities. ANZ's top holdings are far more granular and dispersed—NVIDIA at 1.28%, a US mortgage-backed security (FNMA) at 1.25%, Apple at 1.14%—suggesting either broader diversification or different reporting granularity. Simplicity also discloses a 3.13% cash allocation, while ANZ's deposit holdings appear embedded within a more fragmented structure.
Both funds sit within diversified fund category targeting similar risk appetites, but fee structure and asset allocation transparency differ markedly. Verify the latest Product Disclosure Statement and Quarterly Fund Update for each fund on FMA Disclose before making any investment decision.
Comparison generated 2026-10-12 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
- 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 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
0.90%
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 14% 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 | 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 CorporationUS | 1.28% | 2.85% |
 Apple IncUS | 1.14% | 2.56% |
 Microsoft CorporationUS | 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?
