Fund-vs-fund · Diversified
Booster Socially Responsible Growth FundvsSummer Balanced Selection
Booster Socially Responsible Growth Fund (fund size NZ$123.5 million, annual fund charge 1.34%) and Summer Balanced Selection (fund size NZ$125.1 million, annual fund charge 1.02%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; Booster Socially Responsible Growth Fund's 1-year return after fees and tax was 4.57% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
How much do these two overlap?
They hold 136 of the same securities. If you held both, roughly 23.9% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Booster Socially | Summer Balanced | Min weight |
|---|---|---|---|
| Fisher & Paykel Healthcare | 2.53% | 1.87% | 1.87% |
| Microsoft | 1.83% | 1.07% | 1.07% |
| Auckland International Airport | 1.57% | 0.98% | 0.98% |
| Alphabet | 2.27% | 0.96% | 0.96% |
| Infratil | 1.36% | 0.95% | 0.95% |
| Apple | 2.24% | 0.60% | 0.60% |
| Amazon.com | 1.50% | 0.57% | 0.57% |
| Ebos | 0.56% | 0.63% | 0.56% |
| Meridian Energy | 1.12% | 0.55% | 0.55% |
| COMMONWEALTH BANK OF AUSTRALIA | 0.99% | 0.54% | 0.54% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Why these two differ
The most material structural difference between these two funds is their growth asset allocation. The Booster Socially Responsible Growth Fund holds 77.76% in growth assets, classifying it firmly in growth territory despite its diversified category label, while Summer Balanced Selection holds 53.72% in growth assets, reflecting a more moderate positioning. Both carry a risk indicator of 4 on the standard 1–7 scale, though investors should weigh whether that shared indicator fully captures the meaningful difference in equity exposure between the two.
On fees, Summer Balanced Selection charges 1.02% per annum compared with Booster's 1.34% — a 32 basis point gap that compounds meaningfully over time. Fund size is similar: Booster sits at approximately NZD 123.5 million and Summer at approximately NZD 125.1 million.
Summer Balanced Selection discloses a five-year return of 3.36% per annum; Booster's latest Quarterly Fund Update does not include a five-year return figure in this snapshot, so a direct performance comparison cannot be made on that basis.
Portfolio construction also differs notably. Booster's top holdings are individual equities — NVIDIA, Apple, Microsoft, and Fisher & Paykel Healthcare — consistent with a growth-oriented, stock-picking approach. Summer's largest single holding is the Hunter Global Fixed Interest Fund at 18.09%, indicating a fund-of-funds structure with significant fixed income exposure, alongside two New Zealand government bonds in the top five.
Both funds are associated with KiwiSaver scheme accounts. Verify all figures against the source 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
- 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 68 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 18% 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. |
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?
