Fund-vs-fund · Diversified
ANZ Investments OneAnswer High Growth Fund vs Simplicity Homes and Income Investment 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 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 Simplicity Homes and Income Investment Fund holds just 23.37% in growth assets and sits at a risk indicator of 3 out of 7. Both sit in the Diversified category, but they occupy opposite ends of its risk-return spectrum.
Fee structures differ substantially as well. The ANZ fund discloses an annual fund charge of 0.95%, compared with Simplicity's 0.25% — a 0.70 percentage point gap that compounds meaningfully over time, though neither fund discloses a five-year return figure in this snapshot, making net-of-fee performance comparison impossible from available data.
Portfolio composition reflects these contrasting mandates. The ANZ fund's five largest holdings are global equities — Nvidia, Apple, and Microsoft among them — alongside New Zealand names such as Fisher and Paykel Healthcare and Infratil. Simplicity's fund is anchored by Simplicity Living Ltd ordinary shares at 14.11%, followed predominantly by New Zealand fixed-income instruments including Kiwibank and Westpac floating-rate notes and a CHFA bond, consistent with its income-oriented, lower-growth positioning.
Fund sizes are broadly comparable: ANZ at approximately NZD 67.1 million and Simplicity at approximately NZD 67.8 million. Note that the ANZ fund is accessed via the OneAnswer KiwiSaver scheme account structure, while Simplicity's is a standalone investment fund, which may have different account and tax implications.
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
- Simplicity Homes and Income Investment Fund charges 0.70% lower in annual fund charges (0.25% 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
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Simplicity
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$67m
Upper half by size
Simplicity
NZ$68m
Upper half by size
| Metric | ANZ Investments | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.95% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 3 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$67m | NZ$68m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 23% / 77% | 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 →
Simplicity
Simplicity Homes and Income Investment Fund
The Homes and Income Investment Fund provides investors with an exposure to a mix of growth and income assets, with a focus on residential property.Full Simplicity Simplicity Homes and Income Investment Fund profile →
Common questions
What's the difference between the ANZ Investments OneAnswer High Growth Fund and the Simplicity Homes and Income Investment Fund?
Which fund has lower fees, ANZ Investments OneAnswer High Growth Fund or Simplicity Homes and Income Investment Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
