Fund-vs-fund · Diversified
Booster Wealth High Growth Fund vs Lifetime Growth 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 allocation to growth assets. The Booster Wealth High Growth Fund holds 98.31% in growth assets, placing it firmly at the aggressive end of the diversified spectrum, while the Lifetime Growth Fund holds 78.48% in growth assets — a roughly 20-percentage-point gap that carries meaningful implications for both return potential and downside exposure. This divergence is reflected in their FMA risk indicators: Booster sits at 5, Lifetime at 4 on the standard 1–7 scale.
Their construction approaches also differ substantially. Booster invests directly in individual equities, with its five largest disclosed positions being single-company stocks — Fisher & Paykel Healthcare, NVIDIA, Apple, Microsoft, and Auckland International Airport. Lifetime takes a fund-of-funds approach, building its portfolio primarily through wholesale ESG-screened equity funds and the Simplicity NZ Share Fund, alongside a 9.2% cash at bank position. This means Lifetime investors carry an additional layer of underlying fund fees not captured in the headline 0.99% annual fund charge, compared to Booster's 0.96%.
Both funds are small by industry standards — Booster at NZD 3.72 million and Lifetime at NZD 3.26 million — which may affect liquidity and operational scale. Five-year return data is unavailable for both funds in this snapshot, so performance history cannot be compared here.
Always verify current fees, asset allocations, and returns 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 (0.96% vs 0.99%).
- 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
0.96%
Lower half 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$4m
Smallest 8% in cohort
Lifetime
NZ$3m
Smallest 7% in cohort
| Metric | Booster | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.96% | 0.99% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$4m | NZ$3m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 78% / 22% | 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
2.1%
of Booster Wealth High Growth Fund top 10 is shared
Lifetime weight in shared
9.2%
of Lifetime Growth Fund top 10 is shared
| Holding | Booster | Lifetime |
|---|---|---|
| NC NZ Cash (BNZ Bank Trust Account) NZ | 2.06% | 9.20% |
"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 High Growth Fund
The Wealth High Growth Fund is suited to investors who seek potentially higher returns on average over long term periods (ten years plus), allowing for 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, and the application of our Approach to Responsible Investing policy.Full Booster Booster Wealth High Growth Fund profile →
Lifetime
Lifetime Growth Fund
Invests mainly in growth assets with some exposure to income assets. Expected to experience high volatility.Full Lifetime Lifetime Growth Fund profile →
Common questions
What's the difference between the Booster Wealth High Growth Fund and the Lifetime Growth Fund?
Which fund has lower fees, Booster Wealth High Growth Fund or Lifetime Growth Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
