Fund-vs-fund · Diversified
Harbour Sustainable Impact Fund vs QuayStreet Income Fund
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 asset allocation, which drives almost every other contrast. The Harbour Sustainable Impact Fund holds 98.31% in growth assets — concentrated in NZ-listed equities including Infratil (6.21%), Contact Energy (6.09%), and Meridian Energy (6.01%) — giving it an equity-heavy, sustainability-screened character despite its "Diversified" category label. The QuayStreet Income Fund, by contrast, holds just 0.07% in growth assets, with its portfolio dominated by fixed-income securities such as NZ Government inflation-linked bonds and bank subordinated notes, making it effectively a defensive income vehicle. Both sit in the same Diversified category on FMA Disclose, but their actual risk profiles diverge sharply: Harbour carries a risk indicator of 5, QuayStreet a 3, on the standard 1–7 scale.
On fees, QuayStreet's annual fund charge of 0.77% is materially higher than Harbour's 0.27%. The five-year return figures move in the opposite direction: QuayStreet returned 2.9% per annum versus Harbour's 0.15%, though comparing those figures directly is complicated by the funds' fundamentally different asset mixes and the periods over which markets moved. Fund sizes are broadly comparable — Harbour at approximately NZ$380 million, QuayStreet at approximately NZ$329 million.
Neither fund is a KiwiSaver scheme account product based on the data snapshot provided here. Readers should verify all figures, including fees and returns, 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 Sustainable Impact Fund charges 0.50% lower in annual fund charges (0.27% vs 0.77%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Harbour Sustainable Impact Fund applies responsible-investment / ESG screening. The other fund does not.
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
0.27%
Lowest 13% of cohort
QuayStreet
0.77%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
0.15%
Bottom 1% over 5 years
QuayStreet
2.90%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$380m
Largest 23% in cohort
QuayStreet
NZ$329m
Largest 25% in cohort
| Metric | Harbour | QuayStreet | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.27% | 0.77% | Lower is better |
| Risk indicator (1–7) | 5 | 3 | Higher = more volatility |
| 5-year return p.a. | 0.15% | 2.90% | Higher is better (past not future) |
| Fund size | NZ$380m | NZ$329m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 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 | Yes | 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 Sustainable Impact Fund
This Fund is designed to track the S&P/NZX 50 Portfolio Index, with exclusions to companies including but not limited to, large carbon emitters, gambling, firearms, and companies with human and animal rights violations. For full details of the exclusions for this Fund please see the Environmental, Social and Governance Policy (ESG Policy) on our website at Responsible Investing - Harbour Asset Management. There are positive and negative tilts applied to the remaining companies based on Harbour's proprietary Corporate Behaviour Score.Full Harbour Harbour Sustainable Impact Fund profile →
QuayStreet
QuayStreet Income Fund
The QuayStreet Income Fund will invest in a diversified portfolio with an emphasis on income producing assets such as New Zealand and International fixed interest investments and derivatives. The fund may include an allocation to growth assets. The investment objective is to provide a level of return above the fund’s benchmark over the long term. The fund aims to make quarterly distributions.Full QuayStreet QuayStreet Income Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Harbour
LiveLast verified 2026-05-08
QuayStreet
Common questions
What's the difference between the Harbour Sustainable Impact Fund and the QuayStreet Income Fund?
Which fund has lower fees, Harbour Sustainable Impact Fund or QuayStreet Income Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
