Fund-vs-fund · Australasian Equities
Fisher Funds New Zealand Growth Fund vs QuayStreet NZ Equity 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.
Why these two differ
The most material structural difference between these two funds is their portfolio composition despite sharing the same Australasian Equities category and an identical growth asset allocation of 98.31%. Fisher Funds New Zealand Growth Fund concentrates entirely in New Zealand-listed companies — its five largest positions are Fisher & Paykel Healthcare (18.39%), Infratil (14.65%), Mainfreight (7.84%), Auckland International Airport (7.50%), and Summerset Group (6.71%), giving the portfolio a pronounced NZ-domestic tilt with meaningful single-stock concentration. QuayStreet NZ Equity Fund's disclosed top holdings tell a different story: BHP Billiton (11.21%), Commonwealth Bank of Australia (8.65%), Westpac (6.81%), ANZ Group (5.79%), and Macquarie Group (4.56%) are all Australian-listed names, suggesting the fund carries significant Australian equities exposure despite its "NZ Equity" label — investors should review the full holdings disclosure to understand the actual NZ-versus-Australia split.
On fees, QuayStreet charges 1.27% annually versus Fisher Funds at 1.42%, a 15-basis-point difference. Both carry a risk indicator of 5 out of 7. The five-year return figures diverge considerably: QuayStreet reports 7.14% per annum against Fisher Funds' 1.47%, though past returns are not a reliable indicator of future performance and the periods underlying each figure should be confirmed in the respective Quarterly Fund Updates. Fund sizes are comparable — Fisher Funds at approximately NZD 160.6 million, QuayStreet at approximately NZD 155.0 million.
Always verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on this summary.
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
- QuayStreet NZ Equity Fund charges 0.15% lower in annual fund charges (1.27% 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 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
1.42%
Highest 6% of cohort
QuayStreet
1.27%
Highest 15% of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
1.47%
Lower half over 5 years
QuayStreet
7.14%
Top 21% over 5 years
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$161m
Upper half by size
QuayStreet
NZ$155m
Upper half by size
| Metric | Fisher Funds | QuayStreet | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.42% | 1.27% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.47% | 7.14% | Higher is better (past not future) |
| Fund size | NZ$161m | NZ$155m | 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.
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 →
QuayStreet
QuayStreet NZ Equity Fund
The QuayStreet Australian Equity Fund invests predominantly in companies that are in the ASX 200 Index. The investment objective is to provide a level of return above the fund’s benchmark over the long term.Full QuayStreet QuayStreet NZ Equity Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
QuayStreet
Common questions
What's the difference between the Fisher Funds New Zealand Growth Fund and the QuayStreet NZ Equity Fund?
Which fund has lower fees, Fisher Funds New Zealand Growth Fund or QuayStreet NZ Equity 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?
