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 market focus. The ANZ Investments OneAnswer Property Securities Fund concentrates heavily on Australasian listed property — Goodman Group, Goodman Property Trust, Precinct Properties, and Kiwi Income Property Trust together account for around 45% of the portfolio — while the Mercer Global Listed Real Estate Fund holds a broadly diversified global real estate portfolio, with its top positions in US-listed names spanning data centres (Equinix), healthcare REITs (Welltower, Ventas), retail (Simon Property Group), and logistics (Prologis). Both funds sit at 98.31% growth assets, so the asset-class split is essentially identical; the divergence lies in where and what type of property exposure is taken.
On risk, Mercer carries a higher FMA risk indicator of 6 compared to ANZ's 5, consistent with its broader global currency and market exposure. Annual fund charges differ meaningfully: ANZ discloses 1.06% versus Mercer's 1.33%. Over the five years captured in the latest quarterly fund updates, ANZ returned 4.18% per annum against Mercer's 0.87% per annum, though past performance is not indicative of future returns and the two portfolios are exposed to different underlying markets. Mercer's fund is larger at approximately NZD 66.2 million versus ANZ's NZD 43.3 million. Neither fund appears to be a KiwiSaver scheme account offering based on the disclosed data.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- 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?
