Fund-vs-fund · Diversified
ANZ Investments OneAnswer High Growth Fund vs Foundation Series 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 their growth asset allocation and corresponding risk profiles. The ANZ Investments OneAnswer High Growth Fund holds 98.37% in growth assets and carries a risk indicator of 5, while the Foundation Series Growth Fund holds 78.48% in growth assets and sits at a risk indicator of 4 — a meaningful distinction for investors weighing volatility exposure within the same Diversified category.
The fee gap is also substantial. The OneAnswer High Growth Fund charges an annual fund charge of 0.95%, compared with 0.38% for the Foundation Series Growth Fund — a 57-basis-point difference that compounds over time regardless of market conditions.
Construction differs sharply. The OneAnswer High Growth Fund holds individual equities directly, with its five largest positions being Nvidia, Fisher and Paykel Healthcare, Apple, Microsoft, and Infratil — each a single-company exposure. The Foundation Series Growth Fund is built almost entirely from pooled vehicles, led by the Vanguard ESG US Stock ETF (38.94%), with ESG-screened mandates running throughout the portfolio, including fixed income. Both funds are similar in size, at approximately NZD 67.1 million and NZD 62.4 million respectively.
On performance, the Foundation Series Growth Fund discloses a five-year annualised return of 6.31%; the OneAnswer High Growth Fund's five-year return figure is not available in this snapshot. Both funds are KiwiSaver scheme accounts.
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
- Foundation Series Growth Fund charges 0.57% lower in annual fund charges (0.38% 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
0.38%
Lowest 17% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Foundation Series
6.31%
Top 15% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$67m
Upper half by size
Foundation Series
NZ$62m
Upper half by size
| Metric | ANZ Investments | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 0.38% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 6.31% | Higher is better (past not future) |
| Fund size | NZ$67m | NZ$62m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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.
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 →
Foundation Series
Foundation Series Growth Fund
Aims for high long-run returns by investing in a diversified portfolio weighted towards growth assets but with some income asset exposure. 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 Growth 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 High Growth Fund and the Foundation Series Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer High Growth Fund or Foundation Series Growth Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
