Fund-vs-fund · Australasian Equities
Harbour Australasian Equity Focus Fund vs Summer Australian Equities
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.
What's different at a glance
- Summer Australian Equities charges 0.19% lower in annual fund charges (1.02% vs 1.21%).
- 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
Harbour
1.21%
Highest 20% of cohort
Summer
1.02%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
1.44%
Lower half over 5 years
Summer
8.01%
Top 15% over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$21m
Smallest 22% in cohort
Summer
NZ$17m
Smallest 20% in cohort
| Metric | Harbour | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.21% | 1.02% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.44% | 8.01% | Higher is better (past not future) |
| Fund size | NZ$21m | NZ$17m | 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 | InvestNow · 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.
Matching holdings
2
of each fund's top 10
Harbour weight in shared
9.4%
of Harbour Australasian Equity Focus Fund top 10 is shared
Summer weight in shared
5.3%
of Summer Australian Equities top 10 is shared
| Holding | Harbour | Summer |
|---|---|---|
| RT Rio Tinto AU | 4.79% | 2.72% |
 Macquarie Group AU | 4.63% | 2.57% |
"Min weight" = the smaller of the two weights — a conservative read of how much exposure you'd have to that position if you held both funds.
What each fund says it does
Harbour
Harbour Australasian Equity Focus Fund
The Fund is an actively managed, high conviction portfolio investing principally in listed Australasian equities. The focus is on delivering strong positive returns through the market cycle by investing in equity positions with no particular attention to an equity benchmark. The Fund is a research focused equity fund. It may have a higher risk profile than traditional core equity funds. We can actively allocate investments between Australasian listed equities, fixed interest and cash. The Fund may also use derivatives to hedge currency and equity risk. The Fund inFull Harbour Harbour Australasian Equity Focus Fund profile →
Summer
Summer Australian Equities
The Summer Australian Equities fund invests mostly in Australian shares, and can invest in New Zealand listed shares where the company has meaningful operations in Australia. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.Full Summer Summer Australian Equities profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Harbour
LiveLast verified 2026-05-08
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- + 9 more on the fund page
Summer
Common questions
What's the difference between the Harbour Australasian Equity Focus Fund and the Summer Australian Equities?
Which fund has lower fees, Harbour Australasian Equity Focus Fund or Summer Australian Equities?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
