Fund-vs-fund · Diversified
ANZ Investments OneAnswer High Growth Fund vs Harbour Balanced 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 allocation to growth assets. The ANZ Investments OneAnswer High Growth Fund holds 98.37% in growth assets — effectively a near-pure equity portfolio — and carries a risk indicator of 5. The Harbour Balanced Growth Fund sits at 78.34% growth assets with a risk indicator of 4, meaning it retains a more meaningful allocation to income-style assets and is rated one step lower on the standardised risk scale.
On fees, ANZ Investments charges 0.95% annually versus Harbour's 1.04%, a difference of nine basis points. Fund sizes are comparable: ANZ Investments at approximately $67.1 million and Harbour at approximately $59.9 million.
Five-year return data is available only for Harbour, which recorded 1.78% per annum over that period; ANZ Investments' five-year return figure is absent from this snapshot, so a direct historical performance comparison cannot be made here.
The ANZ OneAnswer fund is offered under a KiwiSaver scheme, meaning holdings are within your KiwiSaver scheme account; Harbour's fund appears to operate as a standalone managed fund — investors should confirm the product structure relevant to their circumstances.
Both funds share some equity overlap: Fisher & Paykel Healthcare and Infratil appear in each fund's top holdings. Harbour's top positions also include private equity exposures (TPG Private Equity Opportunities Fund and GD1 Fund 3 L.P.), which are absent from ANZ's disclosed top five and represent a structurally different liquidity profile.
Verify all figures against each fund's current PDS 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 High Growth Fund charges 0.09% lower in annual fund charges (0.95% vs 1.04%).
- 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
Harbour
1.04%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Harbour
1.24%
Bottom 11% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$67m
Upper half by size
Harbour
NZ$58m
Upper half by size
| Metric | ANZ Investments | Harbour | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 1.04% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 1.24% | Higher is better (past not future) |
| Fund size | NZ$67m | NZ$58m | 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.
Matching holdings
4
of each fund's top 10
ANZ Investments weight in shared
6.9%
of ANZ Investments OneAnswer High Growth Fund top 10 is shared
Harbour weight in shared
6.6%
of Harbour Balanced Growth Fund top 10 is shared
| Holding | ANZ Investments | Harbour |
|---|---|---|
 Nvidia Corporation US | 2.39% | 1.85% |
 Apple Inc US | 2.13% | 1.67% |
 Infratil Ltd NZ | 1.23% | 1.72% |
 Contact Energy Ltd NZ | 1.15% | 1.37% |
"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 →
Harbour
Harbour Balanced Growth Fund
The Fund is designed to provide investors with exposure to a wide range of domestic and global assets. The Fund invests approximately 70% in growth assets such as shares, property and infrastructure and Approximately 30% into more defensive assets, predominantly investment grade bonds. The Manager will Use active management to enhance returns and manage downside risks.Full Harbour Harbour Balanced Growth Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 9 more on the fund page
Common questions
What's the difference between the ANZ Investments OneAnswer High Growth Fund and the Harbour Balanced Growth Fund?
Which fund has lower fees, ANZ Investments OneAnswer High Growth Fund or Harbour Balanced Growth Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
