Fund-vs-fund · Listed Property
ANZ Investments OneAnswer Property Securities Fund vs NZ Funds New Zealand Property and Retirement Villages
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 their asset allocation. ANZ Investments OneAnswer Property Securities Fund holds 98.31% in growth assets, making it an almost entirely growth-oriented portfolio. NZ Funds New Zealand Property and Retirement Villages sits at 53.15% growth assets, meaning roughly half the portfolio is allocated to income or other non-growth asset classes — a substantially more mixed construction despite both funds carrying the same Listed Property category label and an identical risk indicator of 5 out of 7.
The fee gap is also significant. ANZ OneAnswer Property Securities charges 1.06% per annum; NZ Funds New Zealand Property and Retirement Villages charges 2.52% — a difference of 1.46 percentage points annually that compounds materially over time. On the return side, ANZ OneAnswer discloses a five-year annualised return of 4.18%, while NZ Funds does not disclose a five-year figure in this snapshot, so a like-for-like performance comparison is not possible here.
Portfolio composition reflects the allocation gap. ANZ's top holdings are dominated by diversified listed property trusts including Goodman Group (18.31%) and Scentre Group, with an Australian and New Zealand spread. NZ Funds' top holdings include Ryman Healthcare (8.42%) and Summerset Group Holdings (8.27%), reflecting explicit retirement village exposure absent from the ANZ fund. Both funds are similar in size — ANZ at approximately NZD 43.3 million, NZ Funds at approximately NZD 43.7 million.
Readers should verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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 1.46% lower in annual fund charges (1.06% vs 2.52%).
- 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
NZ Funds
2.52%
Highest 7% of cohort
5-year return p.a.
Past performance — not a predictor
ANZ Investments
4.18%
Top 13% over 5 years
NZ Funds
—
—
Fund size
Larger = more stable, lower close-risk
ANZ Investments
NZ$43m
Lower half by size
NZ Funds
NZ$44m
Upper half by size
| Metric | ANZ Investments | NZ Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.06% | 2.52% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 4.18% | — | Higher is better (past not future) |
| Fund size | NZ$43m | NZ$44m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 53% / 47% | 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
5
of each fund's top 10
ANZ Investments weight in shared
33.4%
of ANZ Investments OneAnswer Property Securities Fund top 10 is shared
NZ Funds weight in shared
30.6%
of NZ Funds New Zealand Property and Retirement Villages top 10 is shared
| Holding | ANZ Investments | NZ Funds |
|---|---|---|
| GP Goodman Property Trust NZ | 11.94% | 9.71% |
 Precinct Properties Group NZ | 7.97% | 9.00% |
| PF Property for Industry Ltd NZ | 5.23% | 4.93% |
 Vital Healthcare Property Trust NZ | 4.92% | 4.52% |
 Argosy Property Ltd NZ | 3.35% | 2.39% |
"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 →
NZ Funds
NZ Funds New Zealand Property and Retirement Villages
The objective of the New Zealand Property and Retirement Villages fund is to mitigate the impact of inflation on your investment over the medium and/or long term with active management. The fund is anticipated to mainly own and trade New Zealand property and retirement village company shares. The fund may also hold Australian shares and other actively managed authorised asset classes.Full NZ Funds NZ Funds New Zealand Property and Retirement Villages profile →
Common questions
What's the difference between the ANZ Investments OneAnswer Property Securities Fund and the NZ Funds New Zealand Property and Retirement Villages?
Which fund has lower fees, ANZ Investments OneAnswer Property Securities Fund or NZ Funds New Zealand Property and Retirement Villages?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
