Fund-vs-fund · International Equities
Aurellan Hedged Global Shares Fund vs Foundation Series Nasdaq-100 Fund
Both are International Equities 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 how each achieves its international equities exposure. The Foundation Series Nasdaq-100 Fund holds a single position — the Invesco NASDAQ 100 ETF at 100% of the portfolio — giving it concentrated, pass-through exposure to the Nasdaq-100 index with no active stock selection. The Aurellan Hedged Global Shares Fund, by contrast, holds individual equities directly (Meta Platforms, Alphabet, Nvidia, Apple, and others visible in its top holdings) alongside a cash position, and as its name signals, applies currency hedging back to the New Zealand dollar. These are meaningfully different approaches to the same asset class: one is index-tracking and unhedged, the other is actively constructed and currency-hedged.
The fee gap is substantial. Foundation Series discloses an annual fund charge of 0.15%; Aurellan discloses 1.12% — nearly eight times higher. Both funds sit at approximately NZD 27 million in size and carry identical growth asset allocations of 98.31%. However, their risk indicators differ: Foundation Series is rated 6 (higher volatility, Nasdaq-100 concentration), while Aurellan is rated 5. Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here. Both funds are non-KiwiSaver retail managed funds; neither is linked to a KiwiSaver scheme account.
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
- Foundation Series Nasdaq-100 Fund charges 0.97% lower in annual fund charges (0.15% vs 1.12%).
- 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 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Aurellan
1.12%
Upper half of cohort
Foundation Series
0.15%
Lowest 9% of cohort
5-year return p.a.
Past performance — not a predictor
Aurellan
—
—
Foundation Series
—
—
Fund size
Larger = more stable, lower close-risk
Aurellan
NZ$27m
Lower half by size
Foundation Series
NZ$26m
Smallest 23% in cohort
| Metric | Aurellan | Foundation Series | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.12% | 0.15% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$27m | NZ$26m | 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 to NZD | — | 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 | InvestNow | 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
Aurellan
Aurellan Hedged Global Shares Fund
The Fund aims to provide exposure to a diversified portfolio of global shares managed using a manager-of-managers approach. The Fund mitigates currency risk by hedging most major foreign currency exposures to New Zealand dollars.Full Aurellan Aurellan Hedged Global Shares Fund profile →
Foundation Series
Foundation Series Nasdaq-100 Fund
The Fund aims for high long-run returns by investing in an ETF that invests in shares of the largest non-financial companies listed on the Nasdaq stock exchange.Full Foundation Series Foundation Series Nasdaq-100 Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Aurellan
Common questions
What's the difference between the Aurellan Hedged Global Shares Fund and the Foundation Series Nasdaq-100 Fund?
Which fund has lower fees, Aurellan Hedged Global Shares Fund or Foundation Series Nasdaq-100 Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
