Fund-vs-fund · Diversified
ANZ Investments OneAnswer Growth Fund vs Mint Diversified Growth 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 risk profile. The Mint Diversified Growth Fund carries a risk indicator of 5, while the ANZ Investments OneAnswer Growth Fund sits at 4 — a meaningful step down on the FMA's seven-point scale — despite both funds reporting an identical growth asset allocation of 78.48%. This divergence suggests differences in the volatility characteristics of the underlying holdings, not just their broad asset-class split.
On fees, Mint charges an annual fund charge of 1.21% against ANZ Investments' 0.95%, a 26-basis-point gap that compounds over time. Over the five-year period disclosed in each fund's latest Quarterly Fund Update, ANZ Investments OneAnswer Growth returned 3.69% per annum versus Mint's 2.43% — though past returns are not a reliable indicator of future performance and the periods compared may not be identical.
The two funds also differ structurally in how they invest. ANZ Investments holds individual securities directly as its top positions (Nvidia, Apple, Fisher and Paykel Healthcare). Mint's largest single holding is the Mint Australasian Equity Fund at 13.97%, reflecting a fund-of-funds approach that layers internal vehicles before reaching underlying securities. Fund sizes are comparable — ANZ Investments at approximately NZD 45.6 million, Mint at approximately NZD 45.9 million.
Neither fund is a KiwiSaver scheme based on the data provided; investors should confirm the nature of their scheme account separately.
Verify all figures against each fund's current PDS 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
- ANZ Investments OneAnswer Growth Fund charges 0.26% lower in annual fund charges (0.95% vs 1.21%).
- 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
Mint
1.21%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
3.69%
Upper half over 5 years
Mint
2.43%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$46m
Lower half by size
Mint
NZ$46m
Lower half by size
| Metric | ANZ Investments | Mint | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.21% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 3.69% | 2.43% | Higher is better (past not future) |
| Fund size | NZ$46m | NZ$46m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 78% / 22% | 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
3.3%
of ANZ Investments OneAnswer Growth Fund top 10 is shared
Mint weight in shared
6.0%
of Mint Diversified Growth Fund top 10 is shared
| Holding | ANZ Investments | Mint |
|---|---|---|
 Nvidia Corporation US | 1.66% | 2.22% |
 Microsoft Corporation US | 0.93% | 1.92% |
 Amazon Com Inc US | 0.72% | 1.88% |
"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 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 →
Mint
Mint Diversified Growth Fund
The Fund invests across a range of asset types which includes New Zealand and international equities (including listed property if held), but will also hold cash and fixed interest. The objective of the Fund is to deliver returns in excess of the Consumers Price Index (CPI) by 4.5% per annum, before fees, over the medium to long term. The relevant market index for the Fund is a composite index derived from the underlying asset classes of the Fund.Full Mint Mint Diversified Growth Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Mint
LiveLast verified 2026-05-08
Common questions
What's the difference between the ANZ Investments OneAnswer Growth Fund and the Mint Diversified Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer Growth Fund or Mint Diversified Growth 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?
