Fund-vs-fund · Diversified
Booster Wealth Geared Growth Fund vs Lifetime Conservative Fund
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 drives virtually every other contrast. The Booster Wealth Geared Growth Fund holds 98.31% in growth assets — the "Geared" label signals the use of leverage — and carries a risk indicator of 5 out of 7. The Lifetime Conservative Fund sits at the opposite end of the spectrum, with only 23.37% in growth assets and a risk indicator of 3, consistent with its income-heavy positioning.
Portfolio construction reflects this divide. Booster's top holdings are direct equities — Fisher & Paykel Healthcare, NVIDIA, Apple, Auckland Airport, and Microsoft — giving concentrated single-stock exposure. Lifetime's portfolio is assembled almost entirely from pooled fixed-income and bond funds (Fisher Institutional NZ Fixed Interest at 34.48%, plus two Smart Wholesale bond funds totalling a further 34.75%), with listed equity accessing only around 5% via a single ESG fund.
On fees, Booster charges 1.35% per annum versus Lifetime's 0.99%, a 36-basis-point gap that compounds over time. Fund sizes are broadly comparable: Booster at approximately NZD 2.71 million and Lifetime at approximately NZD 2.06 million, both relatively small pools. Five-year return data is absent for both funds in this snapshot, so no historical performance comparison is possible here.
Neither fund is a KiwiSaver scheme account product based on the data provided, though investors should confirm the applicable offer structure.
Always verify fees, holdings, and risk indicators against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
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
- 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 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
1.35%
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 4% 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 |
|---|---|---|
| NC NZ 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?
