Fund-vs-fund · International Equities
Clarity - Capital Group New Perspective Fund vs Hyperion Global Growth Companies PIE 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 cost. The Hyperion Global Growth Companies PIE Fund discloses an annual fund charge of 4.38%, compared to 1.21% for the Clarity – Capital Group New Perspective Fund — a gap of more than three percentage points that compounds significantly over time regardless of performance outcomes.
Both funds sit in the International Equities category and carry an identical growth asset allocation of 98.31%, meaning neither holds meaningful defensive assets. Their fund sizes are broadly comparable: Hyperion at approximately NZD 176.8 million and Clarity at approximately NZD 154.5 million. Where they diverge further is on risk: Hyperion carries a risk indicator of 6 (out of 7), while Clarity sits at 5, reflecting a measurably lower volatility profile on the standardised FMA scale. Clarity discloses a five-year return of 7.29% per annum; Hyperion's five-year return figure is not available in this snapshot.
Portfolio construction differs sharply. Hyperion holds direct equities — Tesla (12.48%), Alphabet (11.06%), Meta (10.19%), Amazon (9.83%), and Arm Holdings (7.52%) — giving investors direct single-stock concentration. Clarity invests almost entirely through two share classes of the Capital Group New Perspective Fund (totalling ~98%), making it a fund-of-funds structure with an additional underlying fee layer that investors should examine in the underlying fund's documentation.
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 3.17% lower in annual fund charges (1.21% vs 4.38%).
- 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
Hyperion
4.38%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
Clarity
7.29%
Lower half over 5 years
Hyperion
—
—
Fund size
Larger = more stable, lower close-risk
Clarity
NZ$155m
Upper half by size
Hyperion
NZ$177m
Upper half by size
| Metric | Clarity | Hyperion | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.21% | 4.38% | Lower is better |
| Risk indicator (1–7) | 5 | 6 | Higher = more volatility |
| 5-year return p.a. | 7.29% | — | Higher is better (past not future) |
| Fund size | NZ$155m | NZ$177m | 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 | 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 →
Hyperion
Hyperion Global Growth Companies PIE Fund
The Fund invests primarily in growth-oriented companies primarily listed on a recognised global exchange, at the time of initial investment, and will also have some exposure to cash.Full Hyperion Hyperion Global Growth Companies PIE Fund profile →
Common questions
What's the difference between the Clarity - Capital Group New Perspective Fund and the Hyperion Global Growth Companies PIE Fund?
Which fund has lower fees, Clarity - Capital Group New Perspective Fund or Hyperion Global Growth Companies PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
