Fund-vs-fund · Diversified
ANZ Investments OneAnswer High Growth Fund vs NZ Funds Wealth Builder - Growth Strategy
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 fee level. NZ Funds Wealth Builder – Growth Strategy charges an annual fund charge of 2.14%, more than double the ANZ Investments OneAnswer High Growth Fund's 0.95%. Over time, this gap compounds meaningfully against returns regardless of which portfolio performs better in any given period.
Both funds sit in the Diversified category and hold almost identical growth asset allocations — 98.31% and 98.37% respectively — yet they carry different risk indicators: NZ Funds is rated 6 (higher volatility) against ANZ OneAnswer's 5 (moderate-to-high). This difference likely reflects NZ Funds' heavy use of derivatives; Goldman Sachs Futures and OTC Derivatives together account for roughly 19.4% of the portfolio, a construction approach absent from ANZ OneAnswer's disclosed holdings, which are conventional listed equities including Nvidia, Fisher and Paykel Healthcare, Apple, Microsoft, and Infratil.
On five-year returns, NZ Funds discloses 0.96% per annum; ANZ OneAnswer's five-year return figure is not available in our current snapshot. Fund sizes are broadly comparable — NZ Funds at approximately NZD 58.2 million, ANZ OneAnswer at approximately NZD 67.1 million. The ANZ OneAnswer High Growth Fund is offered through a KiwiSaver scheme account structure; investors should confirm whether their access is via a KiwiSaver scheme account or another product wrapper before comparing terms directly.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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 1.19% lower in annual fund charges (0.95% vs 2.14%).
- 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
NZ Funds
2.14%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
NZ Funds
0.96%
Bottom 8% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$67m
Upper half by size
NZ Funds
NZ$58m
Upper half by size
| Metric | ANZ Investments | NZ Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 2.14% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | — | 0.96% | Higher is better (past not future) |
| Fund size | NZ$67m | NZ$58m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | 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 | InvestNow · 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 →
NZ Funds
NZ Funds Wealth Builder - Growth Strategy
The objective of the NZ Funds Wealth Builder - Growth Strategy is to grow your investment over the long term by investing in growth assets and other authorised assets with active management. The fund is anticipated to mainly own and trade New Zealand, Australian and international shares and/or hedge funds over the minimum suggested timeframe.Full NZ Funds NZ Funds Wealth Builder - Growth Strategy profile →
Common questions
What's the difference between the ANZ Investments OneAnswer High Growth Fund and the NZ Funds Wealth Builder - Growth Strategy?
Which fund has lower fees, ANZ Investments OneAnswer High Growth Fund or NZ Funds Wealth Builder - Growth Strategy?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
