Fund-vs-fund · Diversified
Castle Point 5 Oceans FundvsPathfinder Ethical 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.
How much do these two overlap?
They hold 22 of the same securities. If you held both, roughly 8.4% 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 | Castle Point | Pathfinder Ethical | Min weight |
|---|---|---|---|
| Fisher & Paykel Healthcare | 1.57% | 1.99% | 1.57% |
| Infratil | 1.13% | 1.05% | 1.05% |
| Auckland International Airport | 0.95% | 0.97% | 0.95% |
| Contact Energy | 0.96% | 0.82% | 0.82% |
| Mercury NZ | 0.54% | 0.54% | 0.54% |
| a2 Milk | 0.56% | 0.45% | 0.45% |
| Meridian Energy | 0.53% | 0.38% | 0.38% |
| Fletcher Building | 0.38% | 0.53% | 0.38% |
| Freightways | 0.38% | 0.55% | 0.38% |
| Mainfreight | 0.65% | 0.35% | 0.35% |
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.
Castle Point 5 Oceans Fund
Pathfinder Ethical Growth Fund
Why these two differ
The most material structural difference between these two funds is their growth asset allocation, which drives meaningfully different risk profiles. The Pathfinder Ethical Growth Fund holds 78.48% in growth assets against a risk indicator of 4 (on the standard 1–7 scale), while the Castle Point 5 Oceans Fund holds 53.15% in growth assets and carries a lower risk indicator of 3. Both sit in the Diversified category, but investors are effectively looking at materially different exposures to market volatility.
This difference in asset mix is consistent with the return and fee data. Pathfinder's five-year return of 4.82% per annum comes with an annual fund charge of 1.31% and a fund size of approximately $98.2 million. Castle Point's five-year return of 3.85% per annum carries a lower annual fund charge of 1.18% across a fund of approximately $78.9 million. Neither gap is large in isolation, but they move together in a way that reflects the higher-growth, higher-cost, higher-return trade-off common in this category.
The construction approaches also differ noticeably. Castle Point's 5 Oceans Fund is built primarily through other managed funds — its five largest positions are all third-party funds, with Te Ahumairangi Global Equity Fund at 28.15% the dominant holding. Pathfinder's Ethical Growth Fund holds direct securities, with cash and individual equities such as Microsoft, Fisher & Paykel Healthcare, and NVIDIA among the disclosed top positions, reflecting its stated ethical investment mandate.
Verify all figures against each fund's current 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
- Castle Point 5 Oceans Fund charges 0.13% lower in annual fund charges (1.18% vs 1.31%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Pathfinder Ethical Growth Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 68 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Castle Point
1.18%
Upper half of cohort
Pathfinder
1.31%
Highest 21% of cohort
5-year return p.a.
Past performance — not a predictor
Castle Point
3.85%
Upper half over 5 years
Pathfinder
4.82%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Castle Point
NZ$79m
Upper half by size
Pathfinder
NZ$98m
Upper half by size
| Metric | Castle Point | Pathfinder | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.18% | 1.31% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 3.85% | 4.82% | Higher is better (past not future) |
| Fund size | NZ$79m | NZ$98m | 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 | Yes | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
What each fund says it does
Castle Point
Castle Point 5 Oceans Fund
The Fund is a globally diversified fund that provides a moderate exposure to growth assets. The Fund invests in a mix of directly owned assets, other Castle Point funds and selected third-party funds. The Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride.Full Castle Point Castle Point 5 Oceans Fund profile →
Pathfinder
Pathfinder Ethical Growth Fund
An ethical portfolio invested in growth and income assets.Full Pathfinder Pathfinder Ethical Growth Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Castle Point
Pathfinder
LiveLast verified 2026-05-08
Common questions
What's the difference between the Castle Point 5 Oceans Fund and the Pathfinder Ethical Growth Fund?
Which fund has lower fees, Castle Point 5 Oceans Fund or Pathfinder Ethical Growth Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
