Fund-vs-fund · Diversified
ANZ Investments OneAnswer Growth Fund vs Foundation Series Balanced 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, which directly shapes their risk-return profiles despite both carrying the same risk indicator of 4. The ANZ Investments OneAnswer Growth Fund holds 78.48% in growth assets, consistent with its "Growth" label, while the Foundation Series Balanced Fund holds 53.15% — a gap of more than 25 percentage points that reflects meaningfully different exposure to equity market movements.
Fee structures diverge sharply. The OneAnswer Growth Fund discloses an annual fund charge of 0.95%, compared with 0.36% for the Foundation Series Balanced Fund — a difference of 59 basis points that compounds materially over time.
On construction approach, the funds take contrasting paths. The OneAnswer Growth Fund is individually stock-picked, with its five largest holdings being single equities and one mortgage-backed security, none exceeding 1.66%. The Foundation Series Balanced Fund is built almost entirely from pooled vehicles — its top five holdings are ETFs and managed funds, with the Vanguard ESG US Stock ETF alone comprising 29.5% of the portfolio, reflecting a passive, ESG-tilted, fund-of-funds structure.
Fund size is comparable: approximately NZD 45.6 million for the OneAnswer Growth Fund and NZD 45.5 million for the Foundation Series Balanced Fund.
The five-year return figures disclosed are 3.69% per annum for the OneAnswer Growth Fund and 4.77% per annum for the Foundation Series Balanced Fund, though differing asset allocations mean these are not directly comparable on a like-for-like basis.
Readers should verify all figures against the source 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
- Foundation Series Balanced Fund charges 0.59% lower in annual fund charges (0.36% vs 0.95%).
- 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
0.95%
Lower half of cohort
Foundation Series
0.36%
Lowest 14% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
3.69%
Upper half over 5 years
Foundation Series
4.77%
Top 25% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$46m
Lower half by size
Foundation Series
NZ$46m
Lower half by size
| Metric | ANZ Investments | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 0.36% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 3.69% | 4.77% | Higher is better (past not future) |
| Fund size | NZ$46m | NZ$46m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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.
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer Growth Fund
The Balanced Growth Fund invests mainly in growth assets (equities, listed property and listed infrastructure), with some exposure to income assets (cash and cash equivalents and fixed interest). The fund may also invest in alternative assets.The Balanced Growth Fund aims to achieve (after the fund charge and before tax) over the long-term moderate to high returns, allowing for moderate to large ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer Growth Fund profile →
Foundation Series
Foundation Series Balanced Fund
Aims for mid-range long-run returns by investing in a diversified portfolio with a balance of income and growth assets. The Fund incorporates certain responsible investment considerations and is exposed to investment strategies that seek to limit exposure to companies involved in specific business practices.Full Foundation Series Foundation Series Balanced Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Common questions
What's the difference between the ANZ Investments OneAnswer Growth Fund and the Foundation Series Balanced Fund?
Which fund has lower fees, ANZ Investments OneAnswer Growth Fund or Foundation Series Balanced 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?
