Fund-vs-fund · International Equities
Harbour T. Rowe Price Global Equity Fund (Hedged) vs Kernel S&P Global 100 (NZD Hedged) Fund
Both are International 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
- Kernel S&P Global 100 (NZD Hedged) Fund charges 0.99% lower in annual fund charges (0.25% vs 1.24%).
- 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 82 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Harbour
1.24%
Highest 18% of cohort
Kernel
0.25%
Lowest 16% of cohort
5-year return p.a.
Past performance — not a predictor
Harbour
—
—
Kernel
—
—
Fund size
Larger = more stable, lower close-risk
Harbour
NZ$221m
Upper half by size
Kernel
NZ$230m
Upper half by size
| Metric | Harbour | Kernel | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.24% | 0.25% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$221m | NZ$230m | 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 to NZD | Hedged to NZD | 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
4
of each fund's top 10
Harbour weight in shared
11.8%
of Harbour T. Rowe Price Global Equity Fund (Hedged) top 10 is shared
Kernel weight in shared
29.4%
of Kernel S&P Global 100 (NZD Hedged) Fund top 10 is shared
| Holding | Harbour | Kernel |
|---|---|---|
 Apple US | 4.16% | 10.98% |
 Microsoft US | 2.99% | 8.10% |
 Broadcom US | 2.44% | 4.33% |
 Amazon.Com US | 2.23% | 6.00% |
"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 T. Rowe Price Global Equity Fund (Hedged)
The Fund s objective is to provide long-term capital appreciation by investing primarily in a portfolio of securities of companies which are traded, listed or due to be listed, on recognized exchanges and/or markets throughout the world. The portfolio may include investments in the securities of companies traded, listed or due to be listed, on recognized exchanges and/or markets of developing countries.Full Harbour Harbour T. Rowe Price Global Equity Fund (Hedged) profile →
Kernel
Kernel S&P Global 100 (NZD Hedged) Fund
The Kernel S&P Global 100 (NZD Hedged) Fund invests in globally listed multi-national, blue chip companies and is designed to track the S&P Global 100 ex-Controversial Weapons (custom) (NZD Hedged) Index.Full Kernel Kernel S&P Global 100 (NZD Hedged) Fund 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
Kernel
Common questions
What's the difference between the Harbour T. Rowe Price Global Equity Fund (Hedged) and the Kernel S&P Global 100 (NZD Hedged) Fund?
Which fund has lower fees, Harbour T. Rowe Price Global Equity Fund (Hedged) or Kernel S&P Global 100 (NZD Hedged) Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
