Fund-vs-fund · Diversified
ANZ Investments OneAnswer High Growth Fund vs Castle Point 5 Oceans 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 High Growth Fund holds 98.37% in growth assets, carrying a risk indicator of 5 out of 7, while the Castle Point 5 Oceans Fund sits at 53.15% growth assets with a risk indicator of 3 — placing them at opposite ends of the diversified category despite sharing that label. Both sit within roughly the same size bracket: Castle Point 5 Oceans at NZD $78.9 million and ANZ OneAnswer High Growth at NZD $67.1 million.
The funds also differ structurally in how they access markets. Castle Point 5 Oceans invests through a fund-of-funds approach, with its five largest positions being managed funds — including Te Ahumairangi Global Equity Fund (28.15%), T. Rowe Price Dynamic Global Bond Fund (17.40%), and Daintree Core Income Trust (17.35%). ANZ OneAnswer High Growth holds individual securities directly, with its largest disclosed positions being Nvidia (2.39%), Fisher and Paykel Healthcare (2.18%), and Apple Inc (2.13%), reflecting a more broadly distributed portfolio.
On fees, Castle Point 5 Oceans discloses an annual fund charge of 1.18%; ANZ OneAnswer High Growth discloses 0.95%. On five-year returns, Castle Point 5 Oceans returns 3.85% per annum; ANZ OneAnswer High Growth's five-year return figure is not available in this snapshot. The ANZ fund's PDS reference indicates it is offered within a KiwiSaver scheme account context.
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 High Growth Fund charges 0.23% lower in annual fund charges (0.95% vs 1.18%).
- 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
Castle Point
1.18%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Castle Point
3.85%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$67m
Upper half by size
Castle Point
NZ$79m
Upper half by size
| Metric | ANZ Investments | Castle Point | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.18% | Lower is better |
| Risk indicator (1–7) | 5 | 3 | Higher = more volatility |
| 5-year return p.a. | — | 3.85% | Higher is better (past not future) |
| Fund size | NZ$67m | NZ$79m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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.
Matching holdings
3
of each fund's top 10
ANZ Investments weight in shared
3.6%
of ANZ Investments OneAnswer High Growth Fund top 10 is shared
Castle Point weight in shared
3.0%
of Castle Point 5 Oceans Fund top 10 is shared
| Holding | ANZ Investments | Castle Point |
|---|---|---|
 Infratil Ltd NZ | 1.23% | 1.13% |
 Contact Energy Ltd NZ | 1.15% | 0.96% |
 Auckland International Airport NZ | 1.22% | 0.95% |
"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 High Growth Fund
The High Growth Fund invests in growth assets (equities, listed property and listed infrastructure), with a very small exposure to income assets (cash and cash equivalents and fixed interest). The fund may also invest in alternative assets. The High Growth Fund aims to achieve (after the fund charge and before tax) over the long term higher returns, allowing for larger ups and downs in value.Full ANZ Investments ANZ Investments OneAnswer High Growth Fund profile →
Castle Point
Castle Point 5 Oceans Fund
The Fund is a globally diversified fund that provides a moderate exposure to growth assets. The Fund invests in a mix of directly owned assets, other Castle Point funds and selected third-party funds. The Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride.Full Castle Point Castle Point 5 Oceans Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer High Growth Fund and the Castle Point 5 Oceans Fund?
Which fund has lower fees, ANZ Investments OneAnswer High Growth Fund or Castle Point 5 Oceans Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
