Fund-vs-fund · Diversified
Harbour Balanced Growth Fund vs NZ Funds Wealth Builder - Growth Strategy
Both are Diversified 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 and growth asset allocation. The NZ Funds Wealth Builder – Growth Strategy carries a risk indicator of 6 and allocates 98.31% to growth assets, making it almost entirely equity-oriented. The Harbour Balanced Growth Fund sits at risk indicator 4 with 78.34% in growth assets, retaining a meaningful income-asset buffer — a distinction that reflects genuinely different volatility expectations despite both funds sitting in the Diversified category.
Fee structures diverge sharply. Harbour discloses an annual fund charge of 1.04%; NZ Funds discloses 2.14% — more than double — which compounds materially over time against any return differential. On five-year returns, Harbour returned 1.78% per annum versus NZ Funds at 0.96% per annum, though past performance does not predict future returns and both figures cover the same volatile macro period.
Portfolio construction also differs in character. Harbour's top holdings include listed equities such as Fisher & Paykel Healthcare and Infratil alongside private equity vehicles (TPG Private Equity Opportunities Fund, GD1 Fund 3 L.P.), suggesting some illiquid exposure. NZ Funds' largest disclosed positions are Goldman Sachs Futures (13.41%) and Goldman Sachs OTC Derivatives (6.01%), indicating meaningful use of derivatives — a structurally different implementation approach that carries its own liquidity and counterparty considerations. Fund sizes are comparable: Harbour at NZD 59.9 million, NZ Funds at NZD 58.2 million.
Verify all figures against each fund's current PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Harbour Balanced Growth Fund charges 1.10% lower in annual fund charges (1.04% vs 2.14%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Harbour
1.04%
Upper half of cohort
NZ Funds
2.14%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
1.24%
Bottom 11% over 5 years
NZ Funds
0.96%
Bottom 8% over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$58m
Upper half by size
NZ Funds
NZ$58m
Upper half by size
| Metric | Harbour | NZ Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.04% | 2.14% | Lower is better |
| Risk indicator (1–7) | 4 | 6 | Higher = more volatility |
| 5-year return p.a. | 1.24% | 0.96% | Higher is better (past not future) |
| Fund size | NZ$58m | NZ$58m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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
1
of each fund's top 10
Harbour weight in shared
5.1%
of Harbour Balanced Growth Fund top 10 is shared
NZ Funds weight in shared
4.7%
of NZ Funds Wealth Builder - Growth Strategy top 10 is shared
| Holding | Harbour | NZ Funds |
|---|---|---|
| $ ANZ NZD Cash NZ | 5.07% | 4.69% |
"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 Balanced Growth Fund
The Fund is designed to provide investors with exposure to a wide range of domestic and global assets. The Fund invests approximately 70% in growth assets such as shares, property and infrastructure and Approximately 30% into more defensive assets, predominantly investment grade bonds. The Manager will Use active management to enhance returns and manage downside risks.Full Harbour Harbour Balanced Growth Fund profile →
NZ Funds
NZ Funds Wealth Builder - Growth Strategy
The objective of the NZ Funds Wealth Builder - Growth Strategy is to grow your investment over the long term by investing in growth assets and other authorised assets with active management. The fund is anticipated to mainly own and trade New Zealand, Australian and international shares and/or hedge funds over the minimum suggested timeframe.Full NZ Funds NZ Funds Wealth Builder - Growth Strategy 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
NZ Funds
Common questions
What's the difference between the Harbour Balanced Growth Fund and the NZ Funds Wealth Builder - Growth Strategy?
Which fund has lower fees, Harbour Balanced Growth Fund or NZ Funds Wealth Builder - Growth Strategy?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
