Fund-vs-fund · Diversified
Booster Socially Responsible Growth Fund vs Summer Balanced Selection
Both are Diversified 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. The Booster Socially Responsible Growth Fund holds 77.76% in growth assets, placing it firmly in growth territory despite its "Diversified" category label, while the Summer Balanced Selection holds 53.72% in growth assets — a roughly 24-percentage-point gap that implies meaningfully different risk-return profiles even though both carry the same risk indicator of 4. Investors comparing these two funds on category alone would miss this distinction.
On fees, Booster charges an annual fund charge of 1.34% versus Summer's 1.02% — a 32-basis-point difference that compounds over time. Fund size is comparable: Booster sits at approximately NZ$123.5 million and Summer at approximately NZ$125.1 million. Summer discloses a five-year return of 3.36% per annum; Booster's five-year return figure is not available in this snapshot.
The holdings also reflect the allocation difference. Booster's top positions are individual equities — NVIDIA, Fisher & Paykel Healthcare, Apple, and Microsoft — alongside a cash holding. Summer's largest single position is the Hunter Global Fixed Interest Fund at 18.09%, consistent with its heavier fixed-income weighting, with New Zealand government bonds also appearing in the top five.
Both funds operate under KiwiSaver scheme structures, so any balances held are your KiwiSaver scheme account balances subject to KiwiSaver withdrawal rules.
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
- Summer Balanced Selection charges 0.32% lower in annual fund charges (1.02% vs 1.34%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Booster Socially Responsible Growth Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Booster
1.34%
Highest 19% of cohort
Summer
1.02%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Booster
—
—
Summer
3.36%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Booster
NZ$123m
Upper half by size
Summer
NZ$125m
Upper half by size
| Metric | Booster | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.34% | 1.02% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | 3.36% | Higher is better (past not future) |
| Fund size | NZ$123m | NZ$125m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 54% / 46% | 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 | Yes | 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
2
of each fund's top 10
Booster weight in shared
4.4%
of Booster Socially Responsible Growth Fund top 10 is shared
Summer weight in shared
2.9%
of Summer Balanced Selection top 10 is shared
| Holding | Booster | Summer |
|---|---|---|
 Fisher & Paykel Healthcare Corporation Limited NZ | 2.53% | 1.87% |
 Microsoft Corporation US | 1.83% | 1.07% |
"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
Booster
Booster Socially Responsible Growth Fund
The Socially Responsible Growth Fund is suited to investors who seek potentially relatively high returns on average over longer term periods (seven years plus), allowing for short to medium term ups and downs, whilst excluding investments which do not satisfy certain socially responsible investment criteria. We aim to achieve this by investing primarily in growth assets, with a moderate allocation of income assets, and the application of our Responsible Investment Policy.Full Booster Booster Socially Responsible Growth Fund profile →
Summer
Summer Balanced Selection
The Summer Balanced Selection fund invests in a balanced mix of cash, fixed interest, equity and property investments. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark. Investors can expect moderate to high levels of movement up and down in value and, longer-term returns that are higher than those of the Summer Conservative Selection (but with more risk), and lower than those of the Summer Growth Selection (but with less risk).Full Summer Summer Balanced Selection profile →
Common questions
What's the difference between the Booster Socially Responsible Growth Fund and the Summer Balanced Selection?
Which fund has lower fees, Booster Socially Responsible Growth Fund or Summer Balanced Selection?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
