Fund-vs-fund · Diversified
Booster Wealth Balanced Fund vs Summer Conservative 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 growth asset allocation, which signals meaningfully different risk-return profiles despite both sitting in the Diversified category. The Booster Wealth Balanced Fund holds 53.2% in growth assets against a risk indicator of 4 (on a 1–7 scale), while the Summer Conservative Selection holds just 22.99% in growth assets and carries a lower risk indicator of 3. This gap in defensive versus growth weighting is reflected in their portfolio compositions: Booster's disclosed top holdings include individual equities such as Fisher & Paykel Healthcare, NVIDIA, and Apple, suggesting direct equity exposure, whereas Summer's largest single position is the Hunter Global Fixed Interest Fund at 23.03% of the portfolio, with the remaining disclosed top holdings concentrated in New Zealand government bonds — a structure oriented heavily toward fixed income.
On fees, both funds are closely matched: Booster discloses an annual fund charge of 0.83% and Summer 0.87%. Fund size is also comparable, at approximately NZD 11.6 million for Booster and NZD 10.3 million for Summer. Summer discloses a five-year return of 2.17% per annum; Booster's five-year return is not available in this snapshot, so a like-for-like return comparison cannot be made. Summer is offered within a KiwiSaver scheme account structure, as indicated by its PDS; investors should confirm whether Booster's fund is similarly accessible within a KiwiSaver scheme account or as a standalone managed fund.
Always verify current fees, returns, and fund details against each fund's 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
- Annual fund charges are within 0.05% of each other (0.83% vs 0.87%).
- 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 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
0.83%
Lower half of cohort
Summer
0.87%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Booster
—
—
Summer
2.17%
Bottom 23% over 5 years
Fund size
Larger = more stable, lower close-risk
Booster
NZ$12m
Smallest 22% in cohort
Summer
NZ$10m
Smallest 20% in cohort
| Metric | Booster | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.83% | 0.87% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | — | 2.17% | Higher is better (past not future) |
| Fund size | NZ$12m | NZ$10m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 23% / 77% | 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.
What each fund says it does
Booster
Booster Wealth Balanced Fund
The Wealth Balanced Fund is suited to investors who seek a medium level of returns on average over medium term periods (five years plus), allowing for shorter-term ups and downs, whilst excluding investments which do not satisfy certain responsible investment criteria. We aim to achieve this by investing in a mix of income and growth assets, and the application of our Approach to Responsible Investing policy.Full Booster Booster Wealth Balanced Fund profile →
Summer
Summer Conservative Selection
The Summer Conservative Selection fund invests in a greater exposure to cash and fixed interest investments and a lesser exposure to 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 low to moderate levels of movement up and down in value, and longer-term returns that are lower than those of the Summer Balanced Selection (but with less risk).Full Summer Summer Conservative Selection profile →
Common questions
What's the difference between the Booster Wealth Balanced Fund and the Summer Conservative Selection?
Which fund has lower fees, Booster Wealth Balanced Fund or Summer Conservative Selection?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
