Fund-vs-fund · Diversified
Castle Point 5 Oceans Fund vs Simplicity Homes and Income Investment 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 diversified funds is their asset allocation. Castle Point 5 Oceans Fund holds 53.15% in growth assets, giving it a meaningfully more aggressive tilt than Simplicity Homes and Income Investment Fund, which sits at just 23.37% growth assets — closer in character to a conservative income portfolio despite sharing the diversified category label. Both carry a risk indicator of 3, though investors should weigh that shared rating against this significant underlying composition gap.
Fee structures diverge sharply. Castle Point 5 Oceans charges an annual fund charge of 1.18%, compared with Simplicity's 0.25% — a difference of 93 basis points that compounds materially over time. In terms of portfolio construction, Castle Point takes a fund-of-funds approach, with its five largest positions all being third-party managed funds (including Te Ahumairangi Global Equity Fund at 28.15% and T. Rowe Price at 17.40%). Simplicity's top holdings are direct fixed-income securities and Simplicity Living Ltd ordinary shares at 14.11%, reflecting a more concentrated exposure to domestic bonds and a related-party unlisted equity stake.
Castle Point's five-year return is disclosed at 3.85% per annum. Simplicity's five-year return figure is not available in this snapshot, likely reflecting the fund's shorter track record. Fund sizes are comparable — Castle Point at approximately NZD 78.9 million, Simplicity at NZD 67.8 million.
Always verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before making any investment decision.
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
- Simplicity Homes and Income Investment Fund charges 0.93% lower in annual fund charges (0.25% vs 1.18%).
- 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
Castle Point
1.18%
Upper half of cohort
Simplicity
0.25%
Lowest 6% of cohort
5-year return p.a.
Past performance — not a predictor
Castle Point
3.85%
Upper half over 5 years
Simplicity
—
—
Fund size
Larger = more stable, lower close-risk
Castle Point
NZ$79m
Upper half by size
Simplicity
NZ$68m
Upper half by size
| Metric | Castle Point | Simplicity | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.18% | 0.25% | Lower is better |
| Risk indicator (1–7) | 3 | 3 | Higher = more volatility |
| 5-year return p.a. | 3.85% | — | Higher is better (past not future) |
| Fund size | NZ$79m | NZ$68m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 23% / 77% | 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.
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 →
Simplicity
Simplicity Homes and Income Investment Fund
The Homes and Income Investment Fund provides investors with an exposure to a mix of growth and income assets, with a focus on residential property.Full Simplicity Simplicity Homes and Income Investment Fund profile →
Common questions
What's the difference between the Castle Point 5 Oceans Fund and the Simplicity Homes and Income Investment Fund?
Which fund has lower fees, Castle Point 5 Oceans Fund or Simplicity Homes and Income Investment Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
