Fund-vs-fund · Diversified
ANZ Investments OneAnswer Conservative Balanced Fund vs Simplicity High Growth 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 asset allocation. The ANZ Investments OneAnswer Conservative Balanced Fund holds 23.37% in growth assets, placing it firmly in conservative-to-balanced territory, while the Simplicity High Growth Investment Fund holds 98.31% in growth assets — nearly the entire portfolio. This difference drives the risk profiles: ANZ OneAnswer Conservative Balanced carries a risk indicator of 4 out of 7, whereas Simplicity High Growth sits at 5 out of 7. Both are classified as Diversified funds, but their exposure to market volatility differs substantially.
Fees diverge notably as well. ANZ Investments discloses an annual fund charge of 0.75%, compared with Simplicity's 0.25% — a three-to-one difference that compounds meaningfully over time. Fund sizes are comparable: approximately NZD 529 million for ANZ and NZD 509 million for Simplicity.
On five-year returns, ANZ OneAnswer Conservative Balanced discloses 2.24% per annum; Simplicity High Growth's five-year return figure is not available in this snapshot, so a direct performance comparison cannot be made from this data alone.
The top-holdings profiles reflect the allocation gap. ANZ's largest disclosed position is a US mortgage-backed security (FNMA 30Yr Conventional, 1.58%), consistent with a fixed-income-heavy portfolio. Simplicity's largest disclosed position is Simplicity Living Ltd Ordinary Shares at 6.67% — an unlisted related-party holding — followed by global equities including NVIDIA and Apple.
Readers should verify all figures against each fund's current product disclosure statement 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
- Simplicity High Growth Investment Fund charges 0.50% lower in annual fund charges (0.25% vs 0.75%).
- 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
0.75%
Lowest 25% of cohort
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
2.24%
Lower half over 5 years
Simplicity
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$529m
Largest 16% in cohort
Simplicity
NZ$509m
Largest 17% in cohort
| Metric | ANZ Investments | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.75% | 0.25% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 2.24% | — | Higher is better (past not future) |
| Fund size | NZ$529m | NZ$509m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 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 | 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
2
of each fund's top 10
ANZ Investments weight in shared
1.8%
of ANZ Investments OneAnswer Conservative Balanced Fund top 10 is shared
Simplicity weight in shared
9.0%
of Simplicity High Growth Investment Fund top 10 is shared
| Holding | ANZ Investments | Simplicity |
|---|---|---|
 Nvidia Corporation US | 0.94% | 4.72% |
 Apple Inc US | 0.84% | 4.24% |
"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 Conservative Balanced Fund
The Conservative Balanced Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with some exposure to growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets.The Conservative Balanced Fund aims to achieve (after the fund charge and before tax) over the long term low to moderate returns, allowing for small to moderate ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Conservative Balanced Fund profile →
Simplicity
Simplicity High Growth Investment Fund
The High Growth Investment Fund provides investors with exposure to mostly growth assets (shares & property). There is a very limited exposure to income assets (cash).Full Simplicity Simplicity High Growth Investment Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Conservative Balanced Fund and the Simplicity High Growth Investment Fund?
Which fund has lower fees, ANZ Investments OneAnswer Conservative Balanced Fund or Simplicity High Growth Investment Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
