Fund-vs-fund · International Equities
Clarity - Capital Group New Perspective Fund vs Fisher Funds Global 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 how each gains international equity exposure. The Fisher Funds Global Fund invests directly in individual securities — Microsoft, Amazon, Alphabet, and others appear as named positions — alongside S&P 500 futures and a substantial 8.75% cash holding via an ANZ current account. The Clarity – Capital Group New Perspective Fund, by contrast, is effectively a fund-of-funds: approximately 98% of its portfolio is allocated across two share classes of the underlying Capital Group New Perspective Fund, with just 1.87% held as NZD cash. This means Clarity investors bear an additional layer of underlying fund costs that may not be fully captured in the disclosed 1.21% annual fund charge, whereas Fisher Funds' 1.64% charge applies to a directly held portfolio.
On fees, Fisher Funds charges 1.64% against Clarity's 1.21% — a 43 basis point difference. On five-year returns (as reported in each fund's latest Quarterly Fund Update), Clarity shows 7.29% per annum versus Fisher Funds' 5.51%. Both carry a risk indicator of 5 on the standard 1–7 scale, and fund sizes are comparable at roughly $152 million and $155 million respectively. The growth asset allocation differs meaningfully: Fisher Funds holds 78.48% in growth assets, while Clarity sits at 98.31%, reflecting its near-total equity commitment through the underlying fund.
Verify all figures against each fund's current Product Disclosure Statement 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
- Clarity - Capital Group New Perspective Fund charges 0.43% lower in annual fund charges (1.21% vs 1.64%).
- 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 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
Clarity
1.21%
Highest 21% of cohort
Fisher Funds
1.64%
Highest 8% of cohort
5-year return p.a.
Past performance — not a predictor
Clarity
7.29%
Lower half over 5 years
Fisher Funds
5.51%
Bottom 24% over 5 years
Fund size
Larger = more stable, lower close-risk
Clarity
NZ$155m
Upper half by size
Fisher Funds
NZ$152m
Upper half by size
| Metric | Clarity | Fisher Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.21% | 1.64% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 7.29% | 5.51% | Higher is better (past not future) |
| Fund size | NZ$155m | NZ$152m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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 | 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
Clarity
Clarity - Capital Group New Perspective Fund
The Fund aims to achieve long-term growth of capital by investing in shares of companies located around the world. The Fund is managed by Capital Group, and favours companies expected to benefit from structural trends in the global economy.Full Clarity Clarity - Capital Group New Perspective Fund profile →
Fisher Funds
Fisher Funds Global Fund
The fund focuses on growth of your investment over the long term by investing in international companiesFull Fisher Funds Fisher Funds Global Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Clarity
Fisher Funds
LiveLast verified 2026-05-08
Common questions
What's the difference between the Clarity - Capital Group New Perspective Fund and the Fisher Funds Global Fund?
Which fund has lower fees, Clarity - Capital Group New Perspective Fund or Fisher Funds Global Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
