Fund-vs-fund · International Equities
Brandywine Global Opportunistic Equity Fund vs Russell Investments Sustainable Global Shares Fund
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.
Why these two differ
The most material structural difference between these two funds is their risk profile and fee level. The Brandywine Global Opportunistic Equity Fund carries a risk indicator of 5, one step higher on the standard seven-point scale than the Russell Investments Sustainable Global Shares Fund's risk indicator of 4, meaning the Brandywine fund is categorised as having a higher potential for return variability. Alongside that higher risk rating comes a meaningfully higher annual fund charge: 0.93% for Brandywine versus 0.33% for Russell Investments — a 0.60 percentage point gap that compounds over time.
Both funds sit in the International Equities category and share an identical growth assets allocation of 98.31%, so the difference in risk indicator is driven by factors beyond asset class split, likely portfolio concentration and geographic or stock selection choices. Fund size is broadly comparable — Russell at approximately NZD 364 million, Brandywine at approximately NZD 410 million. Neither fund discloses a five-year return figure in this snapshot, so performance comparisons cannot be made from this data.
Their top holdings reveal contrasting styles. Russell's fund is concentrated in large-cap US technology names — Nvidia, Apple, Microsoft — alongside an S&P 500 futures position, suggesting a blend of stock selection and index exposure within a sustainability mandate. Brandywine's holdings reflect a more globally opportunistic approach, with Baidu (China), BNP Paribas (France), AerCap (Ireland), and Kimberly-Clark spread across sectors and regions, with US Dollar listed as the largest single position.
Verify all figures against the source PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Comparison generated 2026-07-05 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
- Russell Investments Sustainable Global Shares Fund charges 0.60% lower in annual fund charges (0.33% vs 0.93%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Russell Investments Sustainable Global Shares Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 81 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
Russell Investments
0.33%
Lowest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Brandywine
—
—
Russell Investments
—
—
Fund size
Larger = more stable, lower close-risk
Brandywine
NZ$410m
Largest 18% in cohort
Russell Investments
NZ$364m
Largest 19% in cohort
| Metric | Brandywine | Russell Investments | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.93% | 0.33% | 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$410m | NZ$364m | 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 | Yes | 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.
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 →
Russell Investments
Russell Investments Sustainable Global Shares Fund
The Fund invests predominantly in a broad range of international shares listed on stock exchanges in developed and emerging international markets. The Fund targets a lower carbon exposure, and higher Climate Solutions Revenue, compared to the Benchmark. The Fund also employs certain investment exclusions, please refer to the SIPO for further details. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. Foreign currency exposures are unhedged.Full Russell Investments Russell Investments Sustainable Global Shares Fund profile →
Common questions
What's the difference between the Brandywine Global Opportunistic Equity Fund and the Russell Investments Sustainable Global Shares Fund?
Which fund has lower fees, Brandywine Global Opportunistic Equity Fund or Russell Investments Sustainable Global Shares Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
