Fund-vs-fund · Diversified
Booster Wealth Geared Growth FundvsLifetime Conservative Fund
Booster Wealth Geared Growth Fund (fund size NZ$2.7 million, annual fund charge 1.35%) and Lifetime Conservative Fund (fund size NZ$2.1 million, annual fund charge 0.99%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 9.01% and 3.13%, per their quarterly fund updates filed on FMA Disclose.
Why these two differ
# Booster Wealth Geared Growth Fund vs. Lifetime Conservative Fund
The two funds differ fundamentally in asset allocation and risk profile. Booster Wealth Geared Growth Fund allocates 98.31% to growth assets—primarily equities including individual stocks like Fisher & Paykel Healthcare (4.25%), NVIDIA (3.77%), and Apple (3.22%)—and carries a Risk Indicator of 5. Lifetime Conservative Fund allocates only 23.37% to growth assets and 76.63% to defensive holdings, with the largest position in Fisher Institutional New Zealand Fixed Interest Fund (34.48%) and substantial exposure to bond funds; it carries a Risk Indicator of 3. This structural difference reflects divergent investment philosophies: Booster targets capital growth through concentrated equity exposure, while Lifetime emphasizes capital preservation through fixed income.
Fee structures differ by 0.36 percentage points annually. Booster charges 1.35% in total fund charges, while Lifetime charges 0.99%. Over a decade, this variance compounds meaningfully on larger balances.
Fund sizes are comparable (Booster $2.71M, Lifetime $2.06M), though neither is large. Five-year return data is unavailable for both funds in the latest Quarterly Fund Updates.
Investors seeking growth exposure with higher volatility tolerance may align with Booster's structure; those prioritizing stability and income may align with Lifetime's. Verify the current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose for each fund before making any decision.
Comparison generated 2026-10-12 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
- Lifetime Conservative Fund charges 0.36% lower in annual fund charges (0.99% vs 1.35%).
- 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
1.35%
Highest 15% of cohort
Lifetime
0.99%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Booster
—
—
Lifetime
—
—
Fund size
Larger = more stable, lower close-risk
Booster
NZ$3m
Smallest 7% in cohort
Lifetime
NZ$2m
Smallest 2% in cohort
| Metric | Booster | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.35% | 0.99% | Lower is better |
| Risk indicator (1–7) | 5 | 3 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$3m | NZ$2m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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.
Matching holdings
1
of each fund's top 10
Booster weight in shared
2.4%
of Booster Wealth Geared Growth Fund top 10 is shared
Lifetime weight in shared
8.1%
of Lifetime Conservative Fund top 10 is shared
| Holding | Booster | Lifetime |
|---|---|---|
NCNZ Cash (BNZ Bank Trust Account)NZ | 2.38% | 8.09% |
"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 Wealth Geared Growth Fund
The Wealth Geared Growth Fund is suited to investors who seek higher returns, including increased potential returns via leverage, on average over extended periods (fifteen years plus), allowing for more significant short to medium term ups and downs, whilst excluding investments which do not satisfy certain responsible investment criteria. We aim to achieve this by investing predominantly in growth assets, with little or no allocation to income assets, the use of leverage to provide increased exposure, and the application of our Approach to Responsible Investing pFull Booster Booster Wealth Geared Growth Fund profile →
Lifetime
Lifetime Conservative Fund
Invests mainly in income assets with some exposure to growth assets. Expected to experience low to medium volatility.Full Lifetime Lifetime Conservative Fund profile →
Common questions
What's the difference between the Booster Wealth Geared Growth Fund and the Lifetime Conservative Fund?
Which fund has lower fees, Booster Wealth Geared Growth Fund or Lifetime Conservative Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
