Fund-vs-fund · Cash
Harbour Enhanced Cash FundvsSummer New Zealand Cash
Both are Cash 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.
Harbour Enhanced Cash Fund
Summer New Zealand Cash
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Why these two differ
Both funds sit in the Cash category, but the most material structural difference is data availability: the Harbour Enhanced Cash Fund's latest Quarterly Fund Update did not supply fee, risk indicator, fund size, return history, or holdings data in this snapshot, making a like-for-like numerical comparison impossible on almost every dimension. Readers should treat the Harbour side of this comparison as structurally incomplete.
Where data does exist, Summer New Zealand Cash discloses a 0.62% annual fund charge, a risk indicator of 1 (the lowest point on the 1–7 scale), a five-year return of 2.41% per annum, and a fund size of approximately NZD 4.9 million. Its disclosed asset allocation shows 0.31% in growth assets, with the remainder in income assets — consistent with a cash-category mandate. Top holdings include a New Zealand Government bond maturing May 2028 (5.06%), a Bank of China call account (4.27%), a Kiwibank floating-rate note (4.20%), and two commercial paper positions each near 3.86%, indicating a short-duration, diversified deposit-and-credit-instrument approach. Summer New Zealand Cash is offered within a KiwiSaver scheme account structure, as referenced in its PDS.
Harbour does not disclose whether the Enhanced Cash Fund is available as a KiwiSaver scheme account option; the fund's category label alone confirms a cash orientation. No fee, risk indicator, return, or holdings data is available from Harbour's side in this snapshot.
Verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
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
- Harbour Enhanced Cash Fund charges 0.36% lower in annual fund charges (0.26% vs 0.62%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Harbour Enhanced Cash Fund is roughly 52.8× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 6 cash funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Harbour
0.26%
Lower half of cohort
Summer
0.62%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
2.79%
Top 25% over 5 years
Summer
2.41%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$260m
Largest 8% in cohort
Summer
NZ$5m
Lower half by size
| Metric | Harbour | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.26% | 0.62% | Lower is better |
| Risk indicator (1–7) | 2 | 1 | Higher = more volatility |
| 5-year return p.a. | 2.79% | 2.41% | Higher is better (past not future) |
| Fund size | NZ$260m | NZ$5m | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | 0% / 100% | 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
Harbour
Harbour Enhanced Cash Fund
The Harbour Enhanced Cash Fund is an actively managed portfolio that holds liquid money market securities, NZ Government Stock, corporate bonds and bank deposits, all denominated in New Zealand Dollars. The Fund is designed to earn a premium over 90 day bank bills, while aiming to avoid the volatility of traditional fixed interest funds. The maximum permitted duration of the Fund is 2 years. The Fund maintains a core holding of highly liquid securities in order to minimise transaction costs and facilitate investor cash flow requirements at short notice. The Fund aFull Harbour Harbour Enhanced Cash Fund profile →
Summer
Summer New Zealand Cash
The Summer New Zealand Cash fund invests in cash, cash equivalents and short-term New Zealand debt security assets. We aim to provide returns (before fees, taxes and other expenses) above the Official Cash Rate (OCR) over a rolling 12 month period.Full Summer Summer New Zealand Cash profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Harbour
LiveLast verified 2026-05-08
Summer
Common questions
What's the difference between the Harbour Enhanced Cash Fund and the Summer New Zealand Cash?
Which fund has lower fees, Harbour Enhanced Cash Fund or Summer New Zealand Cash?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
