Fund-vs-fund · NZ Fixed Interest
ANZ Investments OneAnswer New Zealand Fixed Interest Fund vs Kernel March 2027 NZ Bond Fund
Both are NZ Fixed Interest 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.
What's different at a glance
- 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 14 nz fixed interest funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
ANZ Investments
0.46%
Lowest 18% of cohort
Kernel
—
—
5-year return p.a.
Past performance — not a predictor
ANZ Investments
0.63%
Bottom 12% over 5 years
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$11m
Smallest 18% in cohort
Kernel
—
—
| Metric | ANZ Investments | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.46% | — | Lower is better |
| Risk indicator (1–7) | 3 | — | Higher = more volatility |
| 5-year return p.a. | 0.63% | — | Higher is better (past not future) |
| Fund size | NZ$11m | — | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | — | 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 | Direct | Direct | Platforms accepting retail subscriptions. |
Sources: ANZ Investments on Sorted
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer New Zealand Fixed Interest Fund
The New Zealand Fixed Interest Fund invests mainly in New Zealand fixed interest assets. Investments may include fixed interest assets in New Zealand dollars, or issued by New Zealand located or incorporated entities and hedged back to New Zealand dollars, and cash and cash equivalents.The New Zealand Fixed Interest Fund aims to achieve a return (after the fund charge and before tax) that over the long-term is broadly in line with the relevant market index.Full ANZ Investments ANZ Investments OneAnswer New Zealand Fixed Interest Fund profile →
Kernel
Kernel March 2027 NZ Bond Fund
Strategy summary not yet ingested.
Full Kernel Kernel March 2027 NZ Bond Fund profile →Common questions
What's the difference between the ANZ Investments OneAnswer New Zealand Fixed Interest Fund and the Kernel March 2027 NZ Bond Fund?
Both are nz fixed interest funds available to NZ retail investors. Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
Find a financial adviser on FinanceAdvisers.co.nz
Browse NZ-licensed financial advice providers and search by speciality, location and review.
Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.