Fund-vs-fund · International Equities
Foundation Series Total World FundvsPie Global Growth Fund 2
Both are International 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.
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.
Foundation Series Total World Fund
Pie Global Growth Fund 2
What's different at a glance
- Foundation Series Total World Fund charges 1.39% lower in annual fund charges (0.07% 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 84 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Foundation Series
0.07%
Lowest 5% of cohort
Pie Funds
1.46%
Highest 10% of cohort
5-year return p.a.
Past performance — not a predictor
Foundation Series
—
—
Pie Funds
7.49%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Foundation Series
NZ$514m
Largest 15% in cohort
Pie Funds
NZ$439m
Largest 17% in cohort
| Metric | Foundation Series | Pie Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.07% | 1.46% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | 7.49% | Higher is better (past not future) |
| Fund size | NZ$514m | NZ$439m | 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
Foundation Series
Foundation Series Total World Fund
The fund aims for high long-run returns by investing in an Exchange-Traded Fund ('ETF') that invests in shares of the large, mid-sized and small companies listed on international stock markets.Full Foundation Series Foundation Series Total World Fund profile →
Pie Funds
Pie Global Growth Fund 2
The Pie Global Growth 2 Fund seeks to provide investors with long-term capital growth by investing in large companies globally, directly and through ETFs.Full Pie Funds Pie Global Growth Fund 2 profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Foundation Series
LiveLast verified 2026-05-08
Pie Funds
Common questions
What's the difference between the Foundation Series Total World Fund and the Pie Global Growth Fund 2?
Which fund has lower fees, Foundation Series Total World Fund or Pie Global Growth Fund 2?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
