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 cost and risk profile. The Mint Diversified Growth Fund carries an annual fund charge of 1.20%, compared with 0.95% for the ANZ Investments OneAnswer Growth Fund — a 25-basis-point gap that compounds over time. Despite this cost difference, Mint's five-year return of 4.9% per annum outpaces ANZ's 3.69% over the same period, though past returns are not a reliable indicator of future performance.
The two funds also sit at different points on the risk scale: Mint is rated 5 (higher risk) while ANZ OneAnswer sits at 4 (medium-higher risk), even though their growth asset allocations are almost identical — 78.34% and 78.48% respectively. This divergence likely reflects differences in underlying asset volatility or portfolio construction rather than growth/income split alone.
Portfolio structure differs meaningfully. Mint's largest single holding is its own Mint Australasian Equity Fund at 13.79%, revealing a fund-of-funds approach with concentrated Australasian exposure. ANZ OneAnswer's top holdings are individually named equities, with no single position exceeding 1.66%, suggesting broader direct diversification. Both funds hold Microsoft and Nvidia in their top five, though at different weights.
Fund sizes are comparable — Mint at NZD 50.4 million and ANZ OneAnswer at NZD 45.6 million.
Neither fund is listed as a KiwiSaver scheme account in the data provided; both are retail managed funds available through their respective schemes.
Verify all figures against each fund's current product disclosure statement and latest quarterly fund update on FMA Disclose before relying on this summary.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
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
- Quarterly Fund Update330 kB · file fingerprint recorded
- Supporting document648 kB · file fingerprint recorded
- Annual Report361 kB · file fingerprint recorded
- Statement of Investment Policy158 kB · file fingerprint recorded
- Product Disclosure Statement1853 kB · file fingerprint recorded
- Supporting document1425 kB · file fingerprint recorded
- + 2 more on the fund page
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?
