Fund-vs-fund · Australasian Equities
Fisher Funds New Zealand Growth FundvsOctagon New Zealand Equities 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.
How much do these two overlap?
They hold 15 of the same securities. If you held both, roughly 56.4% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Fisher Funds | Octagon New | Min weight |
|---|---|---|---|
| Fisher & Paykel Healthcare | 18.39% | 14.68% | 14.68% |
| Auckland International Airport | 7.50% | 7.72% | 7.50% |
| Infratil | 14.65% | 7.03% | 7.03% |
| Ebos | 5.72% | 4.97% | 4.97% |
| Mainfreight | 7.84% | 4.00% | 4.00% |
| Meridian Energy | 3.92% | 4.32% | 3.92% |
| Contact Energy | 3.91% | 5.59% | 3.91% |
| a2 Milk | 5.12% | 3.82% | 3.82% |
| Mercury NZ | 3.26% | 2.74% | 2.74% |
| Summerset Group | 6.71% | 1.63% | 1.63% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
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 New Zealand Growth Fund
Octagon New Zealand Equities Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
The most material structural difference between these two funds is their risk indicator rating: Fisher Funds New Zealand Growth Fund sits at 5 on the standard 1–7 scale, while Octagon New Zealand Equities Fund is rated 4, despite both funds allocating an identical 98.31% to growth assets. This divergence likely reflects differences in the volatility profiles of their respective holdings rather than any difference in asset allocation philosophy, and investors should review each fund's SIPO for the manager's own explanation of that calibration.
On fees, Octagon charges 1.17% annually versus Fisher Funds' 1.42%, a 25-basis-point gap that compounds meaningfully over time on comparable fund sizes — both sit near NZD 161 million. Five-year returns are close: Fisher Funds returned 1.47% per annum against Octagon's 1.25%, though past returns are not a reliable indicator of future performance and the difference is modest in absolute terms.
Portfolio construction overlaps at the top — Fisher & Paykel Healthcare and Auckland International Airport feature prominently in both — but Fisher Funds carries a notably heavier concentration in its top two holdings (Fisher & Paykel at 18.39% and Infratil at 14.65%), while Octagon distributes weight more evenly across names such as Contact Energy and Ebos Group that do not appear in Fisher Funds' disclosed top five. Both funds sit within the Australasian Equities category and are not KiwiSaver scheme accounts.
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.
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
- Octagon New Zealand Equities Fund charges 0.25% lower in annual fund charges (1.17% vs 1.42%).
- 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 57 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
1.42%
Highest 6% of cohort
Octagon
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
1.47%
Upper half over 5 years
Octagon
1.25%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$161m
Upper half by size
Octagon
NZ$161m
Upper half by size
| Metric | Fisher Funds | Octagon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.42% | 1.17% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.47% | 1.25% | Higher is better (past not future) |
| Fund size | NZ$161m | NZ$161m | 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. |
What each fund says it does
Fisher Funds
Fisher Funds New Zealand Growth Fund
The fund focuses on growth of your investment over the long term by investing in quality New Zealand companies which can consistently produce increasing earningsFull Fisher Funds Fisher Funds New Zealand Growth Fund profile →
Octagon
Octagon New Zealand Equities Fund
The New Zealand Equities Fund invests mostly in New Zealand shares, and can invest in Australian listed shares, where the company has meaningful operations in New Zealand. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/NZX50 Gross with Imputation Index.Full Octagon Octagon New Zealand Equities Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
Octagon
Common questions
What's the difference between the Fisher Funds New Zealand Growth Fund and the Octagon New Zealand Equities Fund?
Which fund has lower fees, Fisher Funds New Zealand Growth Fund or Octagon New Zealand Equities 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?
