Fund-vs-fund · Diversified
Fisher Funds Growth Fund vs QuayStreet Income Fund
Both are Diversified 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 portfolio composition. Fisher Funds Growth Fund allocates 78.34% of its portfolio to growth assets, with top holdings spanning NZ equities such as Fisher & Paykel Healthcare and Infratil alongside global names like Microsoft and Xero. QuayStreet Income Fund, despite sharing the "Diversified" category label, holds just 0.13% in growth assets; its portfolio is overwhelmingly fixed income, led by NZ government inflation-linked bonds, bank subordinated notes, and corporate debt. This near-total divergence in asset mix sits beneath an identical category classification and is the primary driver of the other differences between the two funds.
Risk follows asset mix: Fisher Funds Growth Fund carries a risk indicator of 4, QuayStreet Income Fund a 3, on the standard seven-point scale. The five-year return differential reflects this — 4.95% per annum versus 2.90% — though past performance is not a reliable indicator of future performance and the period covered may differ between the two QFUs. On fees, QuayStreet charges 0.77% annually versus Fisher Funds Growth Fund's 1.46%, a difference of 69 basis points. Fund sizes are broadly comparable at roughly $348 million and $329 million respectively. Neither fund is a KiwiSaver scheme account offering based on the data provided here.
Verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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
- QuayStreet Income Fund charges 0.69% lower in annual fund charges (0.77% vs 1.46%).
- 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 67 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
1.46%
Highest 8% of cohort
QuayStreet
0.77%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
3.05%
Lower half over 5 years
QuayStreet
2.90%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$319m
Upper half by size
QuayStreet
NZ$329m
Largest 25% in cohort
| Metric | Fisher Funds | QuayStreet | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.46% | 0.77% | Lower is better |
| Risk indicator (1–7) | 4 | 3 | Higher = more volatility |
| 5-year return p.a. | 3.05% | 2.90% | Higher is better (past not future) |
| Fund size | NZ$319m | NZ$329m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 0% / 100% | 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 Growth Fund
The fund aims to grow your investment over the long term by investing in mainly growth assetsFull Fisher Funds Fisher Funds Growth Fund profile →
QuayStreet
QuayStreet Income Fund
The QuayStreet Income Fund will invest in a diversified portfolio with an emphasis on income producing assets such as New Zealand and International fixed interest investments and derivatives. The fund may include an allocation to growth assets. The investment objective is to provide a level of return above the fund’s benchmark over the long term. The fund aims to make quarterly distributions.Full QuayStreet QuayStreet Income Fund 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 Update62 kB · file fingerprint recorded
- + 3 more on the fund page
QuayStreet
Common questions
What's the difference between the Fisher Funds Growth Fund and the QuayStreet Income Fund?
Which fund has lower fees, Fisher Funds Growth Fund or QuayStreet Income 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?
