Fund-vs-fund · International FI
Hunter Private Credit FundvsSummer Global Fixed Interest
Hunter Private Credit Fund (fund size NZ$20.1 million, annual fund charge 0.83%) and Summer Global Fixed Interest (fund size NZ$1.1 million, annual fund charge 0.87%) are both international fixed interest managed funds, as shown on Sorted Smart Investor on 22 May 2026; Hunter Private Credit Fund's 1-year return after fees and tax was 4.55% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
What's different at a glance
- Annual fund charges are within 0.05% of each other (0.83% vs 0.87%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Hunter Private Credit Fund is roughly 18.8× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 31 international fi funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Hunter
0.83%
Upper half of cohort
Summer
0.87%
Highest 24% of cohort
5-year return p.a.
Past performance — not a predictor
Hunter
—
—
Summer
0.20%
Bottom 23% over 5 years
Fund size
Larger = more stable, lower close-risk
Hunter
NZ$20m
Smallest 15% in cohort
Summer
NZ$1m
Smallest 8% in cohort
| Metric | Hunter | Summer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.83% | 0.87% | Lower is better |
| Risk indicator (1–7) | 2 | 3 | Higher = more volatility |
| 5-year return p.a. | — | 0.20% | Higher is better (past not future) |
| Fund size | NZ$20m | NZ$1m | Larger = more stable, lower close-risk |
| Growth / income split | 53% / 47% | 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
Hunter
Hunter Private Credit Fund
The Fund aims to provide investors with exposure across private credit segments which from time to time include bilateral lending to small-to-medium sized enterprises, leveraged loans, asset-backed lending, and business equipment receivables. The Fund is typically exposed to sub-investment grade borrowers which have a substantially higher risk of default than investment grade entities.Full Hunter Hunter Private Credit Fund profile →
Summer
Summer Global Fixed Interest
The Summer Global Fixed Interest fund invests in international fixed interest assets. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the Bloomberg Global Aggregate Total Return Index (hedged to New Zealand dollars).Full Summer Summer Global Fixed Interest profile →
Common questions
What's the difference between the Hunter Private Credit Fund and the Summer Global Fixed Interest?
Which fund has lower fees, Hunter Private Credit Fund or Summer Global Fixed Interest?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
