Fund-vs-fund · Diversified
Clarity Diversified Growth Fund vs Lifetime Balanced 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.
What's different at a glance
- Lifetime Balanced Fund charges 0.17% lower in annual fund charges (0.99% vs 1.16%).
- 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
Clarity
1.16%
Upper half of cohort
Lifetime
0.99%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Clarity
7.92%
Top 1% over 5 years
Lifetime
—
—
Fund size
Larger = more stable, lower close-risk
Clarity
NZ$9m
Smallest 16% in cohort
Lifetime
NZ$10m
Smallest 17% in cohort
| Metric | Clarity | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.16% | 0.99% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 7.92% | — | Higher is better (past not future) |
| Fund size | NZ$9m | NZ$10m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 53% / 47% | 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 | InvestNow · 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.
Matching holdings
1
of each fund's top 10
Clarity weight in shared
7.7%
of Clarity Diversified Growth Fund top 10 is shared
Lifetime weight in shared
6.8%
of Lifetime Balanced Fund top 10 is shared
| Holding | Clarity | Lifetime |
|---|---|---|
| $ NZD Cash at Bank NZ | 7.65% | 6.77% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Clarity
Clarity Diversified Growth Fund
The Fund will provide actively managed exposure to New Zealand, Australian and international equities, and aims to generate a better return than the benchmark over the medium to long term. The Fund primarily invests in managed funds (including other Clarity funds) to achieve a well-diversified portfolio of assets.Full Clarity Clarity Diversified Growth Fund profile →
Lifetime
Lifetime Balanced Fund
Invests primarily in growth assets with a moderate exposure to income assets. Expected to experience medium to high volatility.Full Lifetime Lifetime Balanced Fund profile →
Common questions
What's the difference between the Clarity Diversified Growth Fund and the Lifetime Balanced Fund?
Which fund has lower fees, Clarity Diversified Growth Fund or Lifetime Balanced Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
