Fund-vs-fund · Diversified
Booster Wealth Balanced FundvsSummer Conservative Selection
Booster Wealth Balanced Fund (fund size NZ$11.6 million, annual fund charge 0.83%) and Summer Conservative Selection (fund size NZ$10.3 million, annual fund charge 0.87%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; Booster Wealth Balanced Fund's 1-year return after fees and tax was 3.39% 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 16.1% 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 Wealth | Summer Conservative | Min weight |
|---|---|---|---|
| Fisher & Paykel Healthcare | 2.28% | 1.24% | 1.24% |
| PRECINCT PROPERTIES NEW ZEALAND LIMITED | 0.69% | 1.23% | 0.69% |
| Auckland International Airport | 1.41% | 0.65% | 0.65% |
| Infratil | 1.23% | 0.65% | 0.65% |
| Kiwi Property Group | 0.55% | 0.97% | 0.55% |
| Microsoft | 1.22% | 0.50% | 0.50% |
| Alphabet | 1.51% | 0.45% | 0.45% |
| Ebos | 0.50% | 0.42% | 0.42% |
| Spark New Zealand | 0.43% | 0.41% | 0.41% |
| Property for Industry | 0.41% | 0.58% | 0.41% |
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, which drives meaningfully different risk profiles. The Booster Wealth Balanced Fund holds 53.15% in growth assets against a risk indicator of 4 (on a scale of 1–7), while the Summer Conservative Selection holds just 22.99% in growth assets and carries a lower risk indicator of 3. Both sit within the Diversified category, but they occupy different points on the risk-return spectrum.
On fees, the gap is narrow: Booster charges 0.83% per annum and Summer charges 0.87%. Fund sizes are similar — Booster at approximately NZD 11.6 million and Summer at approximately NZD 10.3 million — suggesting both are relatively early-stage funds by assets under management.
Five-year return data is available only for Summer, which discloses 2.17% per annum; Booster's five-year return figure is not present in this snapshot, so a direct historical performance comparison cannot be made here.
Portfolio construction differs notably. Booster's top holdings are individual equities and fixed income securities — Fisher & Paykel Healthcare, NVIDIA, Apple, and NZ government stock — indicating a more granular, directly-held approach. Summer's largest single holding is the Hunter Global Fixed Interest Fund at 23.03%, with remaining disclosed positions concentrated in NZ government bonds, reflecting its conservative tilt and greater use of underlying funds-of-funds structures.
Summer is offered through a KiwiSaver scheme account; Booster's fund is part of a broader investment scheme — investors should confirm the relevant structure for their circumstances.
Always verify current fees, returns, and holdings against each fund's latest PDS and 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
- 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 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
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 22% over 5 years
Fund size
Larger = more stable, lower close-risk
Booster
NZ$12m
Lower half by size
Summer
NZ$10m
Smallest 24% 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. |
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?
