Fund-vs-fund · International Equities
ANZ Investments OneAnswer International Listed Infrastructure Fund vs Foundation Series Hedged Total World Fund
Both are International Equities 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 how they achieve international equities exposure. The ANZ Investments OneAnswer International Listed Infrastructure Fund holds a diversified portfolio of individual infrastructure-related equities — its five largest positions are Cellnex Telecom (6.47%), Getlink (5.88%), Severn Trent (5.08%), Exelon Corporation (4.67%), and Ferrovial (4.44%) — concentrating on a specific sector of the global market. The Foundation Series Hedged Total World Fund, by contrast, holds a single underlying position: the Vanguard Total World Stock ETF at a reported 104.45% weight (reflecting leverage or derivative-based currency hedging mechanics), plus a negligible 0.01% cash balance, giving it broad exposure across global markets rather than a sector tilt.
The fee difference is also substantial. ANZ Investments discloses an annual fund charge of 0.84%, while Foundation Series discloses 0.07% — a gap of 77 basis points annually. Both funds carry a risk indicator of 5 out of 7, share an identical growth assets allocation of 98.31%, and sit close in size: ANZ at approximately NZD 97.1 million, Foundation Series at approximately NZD 85.1 million. Five-year return data is absent for both funds in this snapshot, so relative performance cannot be assessed here. Neither fund is a KiwiSaver scheme account product based on the data provided.
Always verify these details against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figure here.
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 Hedged Total World Fund charges 0.77% lower in annual fund charges (0.07% vs 0.84%).
- 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 81 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.84%
Upper half of cohort
Foundation Series
0.07%
Lowest 5% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Foundation Series
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$97m
Upper half by size
Foundation Series
NZ$85m
Lower half by size
| Metric | ANZ Investments | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.84% | 0.07% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$97m | NZ$85m | 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 to NZD | 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 International Listed Infrastructure Fund
The International Listed Infrastructure Fund invests mainly in international listed infrastructure. Investments may include companies that invest in infrastructure and are listed or are soon to be listed, and cash and cash equivalents.The International Listed Infrastructure Fund aims to achieve a return (after the fund charge and before tax) that over the long-term outperforms the relevant market index.Full ANZ Investments ANZ Investments OneAnswer International Listed Infrastructure Fund profile →
Foundation Series
Foundation Series Hedged Total World Fund
The fund aims for high long-run returns by investing in an Exchange-Traded Fund ('ETF') that invests in shares of the large, mid-sized and small companies listed on international stock markets.Full Foundation Series Foundation Series Hedged Total World Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
ANZ Investments
Common questions
What's the difference between the ANZ Investments OneAnswer International Listed Infrastructure Fund and the Foundation Series Hedged Total World Fund?
Which fund has lower fees, ANZ Investments OneAnswer International Listed Infrastructure Fund or Foundation Series Hedged Total World Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
