Fund-vs-fund · Listed Property
ANZ Investments OneAnswer International Property Fund vs Summer Listed Property
Both are Listed Property 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 geographic exposure. ANZ Investments OneAnswer International Property Fund holds exclusively offshore real estate investment trusts — its top five positions include US-listed names such as Welltower Inc (9.9%), Equinix Inc (9.12%), and Simon Property Group Inc (5.25%), giving investors currency and market risk tied primarily to North American property markets. Summer Listed Property, by contrast, concentrates on New Zealand-listed property companies: Precinct Properties New Zealand Limited (19.02%), Goodman Property Trust (18.17%), and Kiwi Property Group Limited (14.58%) dominate its portfolio, meaning returns and volatility are more directly linked to domestic conditions.
Despite identical growth-asset allocations (98.37% each), the two funds carry different risk indicators: ANZ OneAnswer sits at a higher risk indicator of 6, while Summer is rated 5 on the standard 1–7 scale. Both are KiwiSaver scheme accounts. Fee levels are close — ANZ charges 0.99% annually versus Summer's 1.02% — a difference unlikely to be decisive on its own. Five-year returns to the latest quarterly fund update favour ANZ OneAnswer at 3.11% per annum against Summer's 2.69%, though past performance does not predict future results. Fund sizes are similarly modest: ANZ at approximately NZD 7.09 million and Summer at NZD 7.55 million.
Readers should verify all figures 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
- Annual fund charges are within 0.05% of each other (0.99% vs 1.02%).
- 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 15 listed property funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.99%
Lower half of cohort
Summer
1.02%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
3.11%
Top 21% over 5 years
Summer
2.69%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$7m
Smallest 3% in cohort
Summer
NZ$8m
Smallest 10% in cohort
| Metric | ANZ Investments | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.99% | 1.02% | Lower is better |
| Risk indicator (1–7) | 6 | 5 | Higher = more volatility |
| 5-year return p.a. | 3.11% | 2.69% | Higher is better (past not future) |
| Fund size | NZ$7m | NZ$8m | 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 International Property Fund
The International Property Fund invests mainly in international listed property assets. Investments may include companies, funds or trusts that invest in property and are listed or are soon to be listed, and cash and cash equivalents. The International Property 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 Property Fund profile →
Summer
Summer Listed Property
The Summer Listed Property fund invests in listed financial products issued by entities whose principal business involves the owning or managing of property, property-like assets or real assets. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/NZX All Real Estate Gross with Imputation Index.Full Summer Summer Listed Property profile →
Common questions
What's the difference between the ANZ Investments OneAnswer International Property Fund and the Summer Listed Property?
Which fund has lower fees, ANZ Investments OneAnswer International Property Fund or Summer Listed Property?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
