Fund-vs-fund · Australasian Equities
Fisher Funds Australian Growth Fund vs Fisher Funds Trans Tasman Equity Trust
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 Fisher Funds offerings is cost. The Fisher Funds Trans Tasman Equity Trust charges an annual fund fee of 1.63%, nearly double the 0.87% charged by the Fisher Funds Australian Growth Fund. Over time, that 76-basis-point gap compounds materially against net returns, particularly given that both funds sit at the same risk indicator of 5 and carry near-identical growth asset allocations of 98.31%.
Geographic exposure is the second key distinction. The Australian Growth Fund concentrates entirely in Australian-listed equities, with BHP Group (8.87%), Macquarie Group (5.46%), and Wisetech Global (4.95%) as its largest positions. The Trans Tasman Equity Trust blends Australian and New Zealand stocks, led by Fisher & Paykel Healthcare (9.19%), Infratil (6.91%), and Mainfreight (4.51%), with BHP appearing in both portfolios but at a lower weight (4.35%) in the Trans Tasman fund.
On reported five-year returns, the Australian Growth Fund returned 1.31% per annum versus 0.55% for the Trans Tasman Equity Trust over the same period, though these figures reflect past performance only and differ partly due to differing underlying market exposures. Fund sizes are comparable — NZD 76.7 million and NZD 65.2 million respectively — both operating under separate Fisher Funds product disclosure statements and scheme structures.
Neither fund is a KiwiSaver scheme account product under this data snapshot. Readers should verify all figures, including the most recent quarterly fund updates, against each fund's current PDS and QFU 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
- Fisher Funds Australian Growth Fund charges 0.76% lower in annual fund charges (0.87% vs 1.63%).
- 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
Fisher Funds
0.87%
Lower half of cohort
Fisher Funds
1.63%
Highest 4% of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
1.31%
Lower half over 5 years
Fisher Funds
0.55%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$77m
Upper half by size
Fisher Funds
NZ$65m
Lower half by size
| Metric | Fisher Funds | Fisher Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.87% | 1.63% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.31% | 0.55% | Higher is better (past not future) |
| Fund size | NZ$77m | NZ$65m | 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
Fisher Funds weight in shared
13.7%
of Fisher Funds Australian Growth Fund top 10 is shared
Fisher Funds weight in shared
7.0%
of Fisher Funds Trans Tasman Equity Trust top 10 is shared
| Holding | Fisher Funds | Fisher Funds |
|---|---|---|
 BHP Group Limited AU | 8.87% | 4.35% |
 Commonwealth Bank Ord AU | 4.83% | 2.66% |
"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
Fisher Funds
Fisher Funds Australian Growth Fund
The fund focuses on growth of your investment over the long term by investing in quality Australian companies which can consistently produce increasing earningsFull Fisher Funds Fisher Funds Australian Growth Fund profile →
Fisher Funds
Fisher Funds Trans Tasman Equity Trust
The fund focuses on growth of your investment over the long term by investing in Australasian companiesFull Fisher Funds Fisher Funds Trans Tasman Equity Trust profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
Fisher Funds
LiveLast verified 2026-05-08
Common questions
What's the difference between the Fisher Funds Australian Growth Fund and the Fisher Funds Trans Tasman Equity Trust?
Which fund has lower fees, Fisher Funds Australian Growth Fund or Fisher Funds Trans Tasman Equity Trust?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
