Fund-vs-fund · Australasian Equities
Devon Alpha Fund vs Devon 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.
What's different at a glance
- Devon Alpha Fund charges 0.06% lower in annual fund charges (1.30% vs 1.36%).
- 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
Devon
1.30%
Highest 12% of cohort
Devon
1.36%
Highest 9% of cohort
5-year return p.a.
Past performance — not a predictor
Devon
4.66%
Upper half over 5 years
Devon
6.08%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Devon
NZ$140m
Upper half by size
Devon
NZ$154m
Upper half by size
| Metric | Devon | Devon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.30% | 1.36% | Lower is better |
| Risk indicator (1–7) | 4 | 4 | Higher = more volatility |
| 5-year return p.a. | 4.66% | 6.08% | Higher is better (past not future) |
| Fund size | NZ$140m | NZ$154m | 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
5
of each fund's top 10
Devon weight in shared
38.9%
of Devon Alpha Fund top 10 is shared
Devon weight in shared
25.0%
of Devon Trans-Tasman Fund top 10 is shared
| Holding | Devon | Devon |
|---|---|---|
 Infratil Ltd NZ | 8.04% | 7.18% |
 Fisher & Paykel Healthcare Ltd NZ | 5.13% | 6.62% |
 Goodman Group AU | 7.26% | 4.47% |
 Summerset Group Holdings Ltd NZ | 6.61% | 3.53% |
 Macquarie Group Ltd AU | 11.87% | 3.24% |
"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
Devon
Devon Alpha Fund
A concentrated portfolio of approximately 10-15 select companies listed on the New Zealand and Australian share markets. The Alpha Fund does not follow an equity index and is actively managed. When appropriate investment opportunities cannot be identified, the Alpha Fund may hold cash or cash equivalent securities. The Alpha Fund aims to generate capital growth over the long term.Full Devon Devon Alpha Fund profile →
Devon
Devon Trans-Tasman Fund
The Fund invests in a select portfolio of well researched companies which are primarily New Zealand and Australian listed companies. The Trans-Tasman Fund is actively managed, which means the holdings and returns may differ considerably from its benchmark.Full Devon Devon Trans-Tasman Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Devon
LiveLast verified 2026-05-08
Common questions
What's the difference between the Devon Alpha Fund and the Devon Trans-Tasman Fund?
Which fund has lower fees, Devon Alpha Fund or Devon Trans-Tasman 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?
