Fund-vs-fund · Diversified
ANZ Investments OneAnswer Conservative Fund vs Lifetime Retirement Income 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.
What's different at a glance
- ANZ Investments OneAnswer Conservative Fund charges 0.73% lower in annual fund charges (0.63% vs 1.36%).
- 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
0.63%
Lowest 19% of cohort
Lifetime
1.36%
Highest 11% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
1.62%
Bottom 15% over 5 years
Lifetime
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$104m
Upper half by size
Lifetime
NZ$115m
Upper half by size
| Metric | ANZ Investments | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.63% | 1.36% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.62% | — | Higher is better (past not future) |
| Fund size | NZ$104m | NZ$115m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 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.
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer Conservative Fund
The Conservative Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with a smaller exposure to growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets. The Conservative Fund aims to achieve (after the fund charge and before tax) over the long term low relatively stable returns, allowing for small ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Conservative Fund profile →
Lifetime
Lifetime Retirement Income Fund
Managed investment fund designed to turn your retirement savings into a variable retirement income.Full Lifetime Lifetime Retirement Income Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Conservative Fund and the Lifetime Retirement Income Fund?
Which fund has lower fees, ANZ Investments OneAnswer Conservative Fund or Lifetime Retirement Income Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
