Fund-vs-fund · Listed Property
ANZ Investments OneAnswer Property Securities Fund vs Mercer Global Listed Real Estate Fund
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 and sector concentration. The Mercer Global Listed Real Estate Fund holds predominantly global names — its largest position is Equinix Inc (8.57%), a US data-centre REIT, alongside US healthcare and logistics REITs — indicating a globally diversified mandate. The ANZ Investments OneAnswer Property Securities Fund is anchored in Australasian property: Goodman Group (18.20%) and Goodman Property Trust (11.55%) together represent nearly 30% of the portfolio, with further concentration in New Zealand-listed names such as Precinct Properties Group and Kiwi Income Property Trust. This geographic tilt has a direct bearing on currency exposure and market correlation for investors already holding domestic property.
On fees, ANZ Investments discloses an annual fund charge of 1.06%, compared with Mercer's 1.33% — a 27 basis-point difference that compounds meaningfully over time. Risk indicators diverge as well: Mercer is rated 6 out of 7 versus ANZ's 5, suggesting modestly higher expected volatility in the Mercer fund under the standard FMA risk-indicator methodology. Both funds report identical growth-asset allocations of 98.31%. The five-year return figures — Mercer at 0.87% per annum and ANZ at 2.25% per annum — reflect past performance only and are not indicative of future returns. Fund sizes are broadly comparable at NZD 66.2 million and NZD 51.5 million respectively.
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
- ANZ Investments OneAnswer Property Securities Fund charges 0.27% lower in annual fund charges (1.06% vs 1.33%).
- 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
1.06%
Upper half of cohort
Mercer
1.33%
Highest 23% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
4.18%
Top 13% over 5 years
Mercer
0.87%
Bottom 13% over 5 years
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$43m
Lower half by size
Mercer
NZ$66m
Upper half by size
| Metric | ANZ Investments | Mercer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.06% | 1.33% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 4.18% | 0.87% | Higher is better (past not future) |
| Fund size | NZ$43m | NZ$66m | 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 | 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.
Matching holdings
1
of each fund's top 10
ANZ Investments weight in shared
18.3%
of ANZ Investments OneAnswer Property Securities Fund top 10 is shared
Mercer weight in shared
3.3%
of Mercer Global Listed Real Estate Fund top 10 is shared
| Holding | ANZ Investments | Mercer |
|---|---|---|
 Goodman Group AU | 18.31% | 3.29% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
ANZ Investments
ANZ Investments OneAnswer Property Securities Fund
The Property Securities Fund invests mainly in New Zealand and Australian listed property assets. Investments may include companies, funds or trusts that invest in property and are listed or intend to list, and cash and cash equivalents.The Property Securities 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 Property Securities Fund profile →
Mercer
Mercer Global Listed Real Estate Fund
The fund invests in a global portfolio of property securities listed on stock exchanges around the world. It aims to generate medium to high returns over the long term by investing in a broad range of property regions, sectors and securities through a single fund. Environmental, Social and Governance characteristics are integrated into the investment process. The fund aims provide a Gross Return above the FTSE EPRA/NAREIT Developed Total Return Index with net dividends reinvested (100% hedged to the NZD on an after-tax basis) on a rolling three-year basis.Full Mercer Mercer Global Listed Real Estate 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 Property Securities Fund and the Mercer Global Listed Real Estate Fund?
Which fund has lower fees, ANZ Investments OneAnswer Property Securities Fund or Mercer Global Listed Real Estate Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
