Fund-vs-fund · Diversified
Fisher Funds Conservative FundvsSummer Balanced Selection
Fisher Funds Conservative Fund (fund size NZ$116.2 million, annual fund charge 1.35%) and Summer Balanced Selection (fund size NZ$125.1 million, annual fund charge 1.02%) are both diversified managed funds, as shown on Sorted Smart Investor on 22 May 2026; Fisher Funds Conservative Fund's 1-year return after fees and tax was 2.37% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Fisher Funds Conservative Fund
Summer Balanced Selection
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
What's different at a glance
- Summer Balanced Selection charges 0.33% lower in annual fund charges (1.02% vs 1.35%).
- 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 68 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Fisher Funds
1.35%
Highest 15% of cohort
Summer
1.02%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
1.67%
Bottom 17% over 5 years
Summer
3.36%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$116m
Upper half by size
Summer
NZ$125m
Upper half by size
| Metric | Fisher Funds | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.35% | 1.02% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.67% | 3.36% | Higher is better (past not future) |
| Fund size | NZ$116m | NZ$125m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 54% / 46% | 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.
What each fund says it does
Fisher Funds
Fisher Funds Conservative Fund
The fund aims to provide stable returns over the long term by investing in mainly income assets with a modest allocation to growth assetsFull Fisher Funds Fisher Funds Conservative Fund profile →
Summer
Summer Balanced Selection
The Summer Balanced Selection fund invests in a balanced mix of cash, fixed interest, equity and property investments. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark. Investors can expect moderate to high levels of movement up and down in value and, longer-term returns that are higher than those of the Summer Conservative Selection (but with more risk), and lower than those of the Summer Growth Selection (but with less risk).Full Summer Summer Balanced Selection profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
Summer
Common questions
What's the difference between the Fisher Funds Conservative Fund and the Summer Balanced Selection?
Which fund has lower fees, Fisher Funds Conservative Fund or Summer Balanced Selection?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
