Fund-vs-fund · Diversified
Booster Wealth Moderate 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 Lifetime Growth Fund holds 78.48% in growth assets — dominated by wholesale global and domestic equity funds — while the Booster Wealth Moderate Fund sits at 53.2%, with its top holdings concentrated in NZ cash, government bonds, and a modest equity position in Fisher & Paykel Healthcare. Both carry an identical risk indicator of 4 on the standard 1–7 scale, which warrants closer reading of each fund's PDS given the 25-percentage-point gap in growth asset exposure.
Fee structures differ meaningfully: Booster charges an annual fund charge of 0.74%, compared with Lifetime's 0.99% — a 25 basis point gap that compounds over time. Neither fund discloses a five-year return figure in this snapshot, so historical performance cannot be compared here.
On portfolio construction, the Lifetime Growth Fund aggregates exposure primarily through third-party wholesale funds (Smart and Simplicity vehicles), giving it a fund-of-funds character. Booster holds individual securities and cash instruments directly, reflecting a more direct-investment approach. Fund sizes are comparable — Booster at approximately NZD 2.84 million and Lifetime at approximately NZD 3.26 million — both relatively small pools, which may have implications for liquidity and operational scale that investors should consider.
Both are categorised as diversified managed funds; neither is a KiwiSaver scheme account product in this data snapshot, though managers may offer KiwiSaver scheme accounts separately.
Always verify current fees, holdings, and risk details against the source PDS 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
- Booster Wealth Moderate Fund charges 0.25% lower in annual fund charges (0.74% 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
0.74%
Lowest 23% 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 5% in cohort
Lifetime
NZ$3m
Smallest 7% in cohort
| Metric | Booster | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.74% | 0.99% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$3m | NZ$3m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 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
6.0%
of Booster Wealth Moderate 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 | 5.98% | 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 Moderate Fund
The Wealth Moderate Fund is suited to investors who seek moderate returns on average over medium term periods (three years plus), allowing for some shorter-term ups and downs, whilst excluding investments which do not satisfy certain responsible investment criteria. We aim to achieve this by investing mainly in income assets, while including a moderate allocation of growth assets, and the application of our Approach to Responsible Investing policy.Full Booster Booster Wealth Moderate 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 Moderate Fund and the Lifetime Growth Fund?
Which fund has lower fees, Booster Wealth Moderate Fund or Lifetime Growth Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
