Fund-vs-fund · Australasian Equities
Castle Point Trans-Tasman FundvsPathfinder Ethical Trans-Tasman Fund
Both are Australasian 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 20 of the same securities. If you held both, roughly 46.4% 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 | 16.03% | 9.40% | 9.40% |
| Infratil | 9.92% | 4.97% | 4.97% |
| Auckland International Airport | 9.71% | 4.60% | 4.60% |
| Contact Energy | 8.03% | 3.87% | 3.87% |
| Ebos | 2.97% | 4.01% | 2.97% |
| Freightways | 2.57% | 2.58% | 2.57% |
| Mercury NZ | 4.36% | 2.56% | 2.56% |
| Fletcher Building | 2.86% | 2.49% | 2.49% |
| a2 Milk | 5.77% | 2.15% | 2.15% |
| Meridian Energy | 5.39% | 1.80% | 1.80% |
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 Trans-Tasman Fund
Pathfinder Ethical Trans-Tasman Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
The most material structural difference between these two funds is their risk profile. Castle Point Trans-Tasman Fund carries a risk indicator of 5, while Pathfinder Ethical Trans-Tasman Fund sits at 4 on the same FMA scale — a meaningful step down in stated volatility despite both funds allocating an identical 98.31% to growth assets. This divergence likely reflects Castle Point's notably concentrated top holdings: Fisher & Paykel Healthcare alone represents 16.03% of the portfolio, with the top five positions accounting for roughly 49.5% combined. Pathfinder's equivalent concentration is lower, with its largest holding (also Fisher & Paykel Healthcare) at 9.4% and the top five totalling approximately 27.7%, suggesting broader diversification within the same asset class. Pathfinder also applies an explicit ethical screen, which its name signals and which shapes its stock selection — National Australia Bank and Ebos Group appear in its top five, while Castle Point holds Contact Energy and A2 Milk in comparable slots.
On fees, Pathfinder charges 1.00% annually versus Castle Point's 1.08%. Fund sizes are comparable — NZD 12.37 million and NZD 11.99 million respectively. Over the five-year period disclosed, Castle Point returned 0.91% against Pathfinder's 0.45%, though both figures are modest in absolute terms and past performance is not a reliable indicator of future returns. Neither fund is a KiwiSaver scheme account product based on the data provided.
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
- Pathfinder Ethical Trans-Tasman Fund charges 0.08% lower in annual fund charges (1.00% vs 1.08%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Pathfinder Ethical Trans-Tasman Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 57 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Castle Point
1.08%
Upper half of cohort
Pathfinder
1.00%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Castle Point
0.91%
Lower half over 5 years
Pathfinder
0.45%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Castle Point
NZ$12m
Smallest 10% in cohort
Pathfinder
NZ$12m
Smallest 11% in cohort
| Metric | Castle Point | Pathfinder | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.08% | 1.00% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | 0.91% | 0.45% | Higher is better (past not future) |
| Fund size | NZ$12m | NZ$12m | 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. |
What each fund says it does
Castle Point
Castle Point Trans-Tasman Fund
The Fund invests in New Zealand and Australian Listed Companies and is benchmarked to the S&P/NZX 50 Index (incl Imputation Credits). The performance objective of the Fund is to outperform the benchmark over rolling five-year periods after all fees (and other expenses) but before tax.Full Castle Point Castle Point Trans-Tasman Fund profile →
Pathfinder
Pathfinder Ethical Trans-Tasman Fund
The Fund invests in Australasian equities, listed property companies and other assets that satisfy Pathfinder’s ethical investment criteria. This is a high-conviction fund of top investment ideas. The Fund may achieve this by investing in Pathfinders Wholesale Ethical Trans-Tasman Fund.Full Pathfinder Pathfinder Ethical Trans-Tasman 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 Trans-Tasman Fund and the Pathfinder Ethical Trans-Tasman Fund?
Which fund has lower fees, Castle Point Trans-Tasman Fund or Pathfinder Ethical Trans-Tasman 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?
