Fund-vs-fund · Listed Property
Fisher Funds Property & Infrastructure Fund vs Resolution Capital Global Property Securities PIE Fund
Both are Listed Property 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 risk profile. Resolution Capital Global Property Securities PIE Fund carries a risk indicator of 6, while Fisher Funds Property & Infrastructure Fund sits at 4 — both on the standard 1–7 scale where 7 represents highest risk. Despite identical growth asset allocations of 98.31%, this divergence likely reflects differences in portfolio construction, geographic concentration, or return volatility history.
On fees, Resolution Capital charges 1.05% per annum versus Fisher Funds' 1.53%, a 48 basis point gap that compounds meaningfully over time. Fund size is comparable: Resolution Capital holds approximately NZD 177.5 million, Fisher Funds approximately NZD 153.7 million.
For five-year returns, Fisher Funds reports 4.56% per annum; Resolution Capital's five-year return figure is not available in this snapshot, so a like-for-like performance comparison cannot be made here. Prospective investors should seek the latest Quarterly Fund Update on FMA Disclose for Resolution Capital's current return data.
Portfolio composition differs in character. Fisher Funds' top holdings lean toward global utilities and infrastructure — NextEra Energy (8.2%), CMS Energy (6.21%), American Tower (5.46%) — alongside property via Goodman Group. Resolution Capital concentrates more narrowly in REITs: Welltower (9.41%), Equinix (8.41%), Simon Property Group (4.85%), with a notable 8.18% cash position at BNZ appearing in its top five.
Both are retail managed funds, not KiwiSaver scheme accounts. Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
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
- Resolution Capital Global Property Securities PIE Fund charges 0.48% lower in annual fund charges (1.05% vs 1.53%).
- 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 15 listed property funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Fisher Funds
1.53%
Highest 17% of cohort
Resolution Capital
1.05%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Fisher Funds
4.56%
Top 4% over 5 years
Resolution Capital
—
—
Fund size
Larger = more stable, lower close-risk
Fisher Funds
NZ$154m
Largest 10% in cohort
Resolution Capital
NZ$178m
Largest 3% in cohort
| Metric | Fisher Funds | Resolution Capital | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.53% | 1.05% | Lower is better |
| Risk indicator (1–7) | 4 | 6 | Higher = more volatility |
| 5-year return p.a. | 4.56% | — | Higher is better (past not future) |
| Fund size | NZ$154m | NZ$178m | 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 Property & Infrastructure Fund
The fund focuses on growth of your investment over the long term by investing in New Zealand and international property and infrastructure assetsFull Fisher Funds Fisher Funds Property & Infrastructure Fund profile →
Resolution Capital
Resolution Capital Global Property Securities PIE Fund
The Fund primarily invests in listed property and property-related securities, including real estate investment trusts (REITs), that derive most of their returns from rental income. The Fund’s investments provide exposure to a range of underlying real estate from around the world including but not limited to office buildings, shopping centres, industrial warehouses, residential communities, data centres and towers, self-storage, hotels and healthcare facilities. The Fund may also have exposure to companies which undertake activities such as real estate developmentFull Resolution Capital Resolution Capital Global Property Securities PIE Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Fisher Funds
LiveLast verified 2026-05-08
Resolution Capital
Common questions
What's the difference between the Fisher Funds Property & Infrastructure Fund and the Resolution Capital Global Property Securities PIE Fund?
Which fund has lower fees, Fisher Funds Property & Infrastructure Fund or Resolution Capital Global Property Securities PIE Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
