Fund-vs-fund · International Equities
Brandywine Global Opportunistic Equity FundvsPie Global Growth Fund 2
Both are International Equities 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.
How much do these two overlap?
They hold 7 of the same securities. If you held both, roughly 5.2% 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 | Brandywine Global | Pie Global | Min weight |
|---|---|---|---|
| Alphabet | 2.56% | 2.51% | 2.51% |
| Taiwan Semiconductor | 2.13% | 0.72% | 0.72% |
| Meta Platforms | 1.06% | 0.66% | 0.66% |
| Trip.com Group | 1.25% | 0.47% | 0.47% |
| Banco Santander SA | 1.36% | 0.41% | 0.41% |
| Open House Co Ltd | 1.86% | 0.26% | 0.26% |
| Salesforce | 2.18% | 0.17% | 0.17% |
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.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Brandywine Global Opportunistic Equity Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Pie Global Growth Fund 2
What's different at a glance
- Brandywine Global Opportunistic Equity Fund charges 0.53% lower in annual fund charges (0.93% vs 1.46%).
- 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 84 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Brandywine
0.93%
Upper half of cohort
Pie Funds
1.46%
Highest 10% of cohort
5-year return p.a.
Past performance — not a predictor
Brandywine
—
—
Pie Funds
7.49%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Brandywine
NZ$410m
Largest 18% in cohort
Pie Funds
NZ$439m
Largest 17% in cohort
| Metric | Brandywine | Pie Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.93% | 1.46% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 7.49% | Higher is better (past not future) |
| Fund size | NZ$410m | NZ$439m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | 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
Brandywine
Brandywine Global Opportunistic Equity Fund
The Equity Fund will invest into an underlying fund that holds an actively managed portfolio of global equity and equity-related securities such as convertible securities (excluding contingent convertible securities), warrants, American depositary receipts (ADRs), global depositary receipts (GDRs), and preferred stock, including from emerging market issuers. Further details of the underlying fund are contained in the OMI and SIPO. The Equity Fund may, from time to time, use derivatives to hedge foreign currency risk.Full Brandywine Brandywine Global Opportunistic Equity Fund profile →
Pie Funds
Pie Global Growth Fund 2
The Pie Global Growth 2 Fund seeks to provide investors with long-term capital growth by investing in large companies globally, directly and through ETFs.Full Pie Funds Pie Global Growth Fund 2 profile →
Common questions
What's the difference between the Brandywine Global Opportunistic Equity Fund and the Pie Global Growth Fund 2?
Which fund has lower fees, Brandywine Global Opportunistic Equity Fund or Pie Global Growth Fund 2?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
