Fund-vs-fund · International Equities
ANZ Investments OneAnswer International Listed Infrastructure Fund vs Mercer All Country Global Shares Index 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 their investment mandate. The ANZ Investments OneAnswer International Listed Infrastructure Fund concentrates exclusively on listed infrastructure companies — utilities, toll roads, towers, and energy networks — with top holdings including Cellnex Telecom, Getlink, and Severn Trent. The Mercer All Country Global Shares Index Fund tracks a broad global equities index spanning developed and emerging markets, with its largest position being a Macquarie emerging markets index fund (12.19%), followed by mega-cap technology names such as Nvidia, Apple, and Microsoft. This sector-specific versus broad-market distinction drives meaningfully different return profiles and concentration risk.
Fee structure also differs materially. The ANZ fund charges 0.84% per annum; the Mercer fund charges 0.43% — a gap of 41 basis points that compounds over time. Both funds carry a risk indicator of 5 out of 7 and hold an almost identical growth asset allocation of 98.31%, so those dimensions offer no differentiation here.
On five-year returns, the Mercer fund discloses 9.81% per annum; the ANZ fund's five-year return figure is not available in this snapshot and should be sought directly from its latest Quarterly Fund Update on FMA Disclose. Fund sizes are similar — ANZ at approximately NZD 97.1 million and Mercer at approximately NZD 97.7 million.
Always verify fee, return, and asset allocation details against each fund's current Product Disclosure Statement 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
- Mercer All Country Global Shares Index Fund charges 0.41% lower in annual fund charges (0.43% 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 82 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
Mercer
0.43%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
—
—
Mercer
9.81%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$97m
Upper half by size
Mercer
NZ$98m
Upper half by size
| Metric | ANZ Investments | Mercer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.84% | 0.43% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 9.81% | Higher is better (past not future) |
| Fund size | NZ$97m | NZ$98m | 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 | InvestNow · 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 →
Mercer
Mercer All Country Global Shares Index Fund
The fund is a passively managed international shares portfolio that is designed to track the return of the MSCI All Country World ex Tobacco Index. Environmental, Social and Governance characteristics are integrated into the underlying investment managers' investment processes. The fund aims to provide a return that closely matches the return of the MSCI All Country World ex Tobacco Index with net dividends reinvested (50% hedged to NZD on an after-tax basis).Full Mercer Mercer All Country Global Shares Index 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 Mercer All Country Global Shares Index Fund?
Which fund has lower fees, ANZ Investments OneAnswer International Listed Infrastructure Fund or Mercer All Country Global Shares Index Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
