Fund-vs-fund · Australasian Equities
Clarity Trans-Tasman Value Fund vs Octagon Australasian Equities 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.
Why these two differ
The most material structural difference between these two funds is their risk profile. Octagon Australasian Equities Fund carries a risk indicator of 5 on the FMA's standardised 1–7 scale, while Clarity Trans-Tasman Value Fund sits at 4 — a meaningful step down in stated volatility despite both funds holding an identical 98.31% growth asset allocation. This divergence likely reflects differences in portfolio construction and historical return volatility rather than asset-class exposure alone.
On fees, Clarity charges 1.06% per annum versus Octagon's 1.17%, an 11 basis-point gap that compounds over time. Fund size is comparable — Clarity at approximately NZ$132.6 million, Octagon at NZ$122.7 million. Over the five-year period disclosed in each fund's latest Quarterly Fund Update, Octagon returned 7.85% per annum against Clarity's 5.78%, though past returns are not a reliable indicator of future performance and the two periods may not align exactly.
Portfolio concentration differs at the holding level. Octagon's largest position is BHP at 9.82%, with heavy weighting toward Australian banks. Clarity holds BHP at a lower 6.89% and includes New Zealand-listed names such as Meridian Energy and Infratil in its top five, suggesting a more balanced Trans-Tasman tilt. Both funds are retail managed funds, not KiwiSaver scheme accounts.
Readers should verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any information presented here.
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 Trans-Tasman Value Fund charges 0.11% lower in annual fund charges (1.06% vs 1.17%).
- 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 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Clarity
1.06%
Upper half of cohort
Octagon
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Clarity
5.78%
Upper half over 5 years
Octagon
7.85%
Top 17% over 5 years
Fund size
Larger = more stable, lower close-risk
Clarity
NZ$133m
Upper half by size
Octagon
NZ$123m
Upper half by size
| Metric | Clarity | Octagon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.06% | 1.17% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 5.78% | 7.85% | Higher is better (past not future) |
| Fund size | NZ$133m | NZ$123m | 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.
Matching holdings
2
of each fund's top 10
Clarity weight in shared
11.0%
of Clarity Trans-Tasman Value Fund top 10 is shared
Octagon weight in shared
13.2%
of Octagon Australasian Equities Fund top 10 is shared
| Holding | Clarity | Octagon |
|---|---|---|
 BHP Group Ltd AU | 6.89% | 9.82% |
 National Australia Bank Ltd AU | 4.11% | 3.39% |
"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 Trans-Tasman Value Fund
The Fund will provide actively managed exposure to New Zealand and Australian equities. The Fund aims to generate a better return than the benchmark over the medium to long term. It employs a value investing strategy, typically favouring companies which offer higher earnings yields. We intend for the Fund to make quarterly income distributions.Full Clarity Clarity Trans-Tasman Value Fund profile →
Octagon
Octagon Australasian Equities Fund
The Australian Equities Fund invests mostly in Australian shares, and can invest in New Zealand listed shares, where the company has meaningful operations in Australia. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.Full Octagon Octagon Australasian Equities Fund profile →
Common questions
What's the difference between the Clarity Trans-Tasman Value Fund and the Octagon Australasian Equities Fund?
Which fund has lower fees, Clarity Trans-Tasman Value Fund or Octagon Australasian Equities 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?
