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 Trans Tasman Equity Trust charges an annual fund fee of 1.63%, nearly double the Australian Growth Fund's 0.87%. Over a multi-year holding period, that 0.76 percentage point gap compounds meaningfully against net returns, and the five-year return figures reflect this — the Australian Growth Fund returned 5.32% per annum versus 2.21% for the Trans Tasman Equity Trust over the same period, though past returns do not predict future performance and the two portfolios hold different underlying stocks.
Both funds sit at risk indicator 5 on the standard 1–7 scale and allocate virtually identical proportions to growth assets (98.31% each), so the risk profile and asset-class positioning are structurally alike. Fund size is comparable — NZD 96.2 million versus NZD 104.8 million — suggesting neither fund faces obvious liquidity concerns at this snapshot.
The portfolios diverge in geographic and stock emphasis despite sharing the Australasian Equities category. The Australian Growth Fund's five largest holdings are entirely ASX-listed names — WiseTech Global, CSL, Macquarie Group, BHP, and Car Group — reflecting a concentrated Australian mandate. The Trans Tasman Equity Trust's top positions include NZX-listed Fisher & Paykel Healthcare, Xero, Infratil, Mainfreight, and Summerset, signalling a broader trans-Tasman reach with notable New Zealand exposure. Neither fund is a KiwiSaver scheme account product under these particular offer structures, though both are managed by Fisher Funds.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
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
- Other Material Information165 kB · file fingerprint recorded
- Product Disclosure Statement246 kB · file fingerprint recorded
- Product Disclosure Statement143 kB · file fingerprint recorded
- Product Disclosure Statement666 kB · file fingerprint recorded
- Product Disclosure Statement595 kB · file fingerprint recorded
- Quarterly Fund Update57 kB · file fingerprint recorded
Fisher Funds
LiveLast verified 2026-05-08
- Other Material Information165 kB · file fingerprint recorded
- Product Disclosure Statement246 kB · file fingerprint recorded
- Product Disclosure Statement143 kB · file fingerprint recorded
- Product Disclosure Statement666 kB · file fingerprint recorded
- Product Disclosure Statement595 kB · file fingerprint recorded
- Quarterly Fund Update56 kB · file fingerprint recorded
- + 1 more on the fund page
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?
