Fund-vs-fund · Australasian Equities

Harbour Australasian Equity Income Fund vs SBS Wealth Australasian Equity Portfolio

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.

Harbour

Harbour Australasian Equity Income Fund

PIE · capped at PIR (max 28%)

SBS Wealth

SBS Wealth Australasian Equity Portfolio

PIE · capped at PIR (max 28%) growth

What's different at a glance

Harbour Australasian Equity Income Fund charges 0.10% lower in annual fund charges (1.10% vs 1.20%).
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

1.10%

Upper half of cohort

SBS Wealth

1.20%

Highest 22% of cohort

5-year return p.a.

Past performance — not a predictor

Harbour

2.81%

Upper half over 5 years

SBS Wealth

1.12%

Lower half over 5 years

Fund size

Larger = more stable, lower close-risk

Harbour

NZ$35m

Lower half by size

SBS Wealth

NZ$30m

Lower half by size

Metric	Harbour	SBS Wealth	Lower / higher is
Annual fund charge	1.10%	1.20%	Lower is better
Risk indicator (1–7)	4	4	Higher = more volatility
5-year return p.a.	2.81%	1.12%	Higher is better (past not future)
Fund size	NZ$35m	NZ$30m	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.

Sources: Harbour on Sorted SBS Wealth on Sorted

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

of each fund's top 10

Harbour weight in shared

28.0%

of Harbour Australasian Equity Income Fund top 10 is shared

SBS Wealth weight in shared

20.7%

of SBS Wealth Australasian Equity Portfolio top 10 is shared

Holding	Harbour	SBS Wealth	Min weight
Contact Energy NZ	9.84%	6.55%	6.55%
Infratil NZ	9.64%	6.17%	6.17%
EBOS Group NZ	4.48%	4.25%	4.25%
Spark New Zealand NZ	4.01%	3.77%	3.77%

"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 Income Fund

The Fund is an actively managed strategy that invests predominantly in New Zealand and Australian listed equities that generate attractive dividend yields as well as cash and fixed interest securities.

Full Harbour Harbour Australasian Equity Income Fund profile →

SBS Wealth

SBS Wealth Australasian Equity Portfolio

The Fund aims to achieve capital growth and returns over the long-term through investing primarily in a portfolio of Australasian equities, either directly or indirectly via an underlying fund diversified across various sectors.

Full SBS Wealth SBS Wealth Australasian Equity Portfolio profile →

Documents

Crawled directly from each manager's website. How we record provenance →

Harbour

Live

Last verified 2026-05-08

Supporting document

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+ 9 more on the fund page

SBS Wealth

Not yet crawled. View fund page for FMA Disclose link.

Common questions

What's the difference between the Harbour Australasian Equity Income Fund and the SBS Wealth Australasian Equity Portfolio?

Both are australasian equities funds available to NZ retail investors. Harbour Australasian Equity Income Fund charges 0.10% lower in annual fund charges (1.10% vs 1.20%).

Which fund has lower fees, Harbour Australasian Equity Income Fund or SBS Wealth Australasian Equity Portfolio?

Harbour Australasian Equity Income Fund has the lower annual fund charge (1.10% p.a. vs 1.20% p.a.). Source: each fund's most recent Quarterly Fund Update on the FMA Disclose register.

How do the 5-year returns compare?

Harbour Australasian Equity Income Fund's 5-year return p.a. is 2.81% and SBS Wealth Australasian Equity Portfolio's is 1.12% (after fees, before tax). Past performance is not a reliable indicator of future returns.

Are both funds PIE-taxed in NZ?

Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.

Where can I read the official documents for these funds?

Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.

Not sure which fund is right for you?

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Important: This comparison is general information only — not personalised financial advice. Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.