Fund-vs-fund · Other
Kernel Global Infrastructure (NZD Hedged) Fund vs Mercer Global Listed Infrastructure Fund
Both are Other 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
- 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 8 other funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Kernel
—
—
Mercer
1.34%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Kernel
—
—
Mercer
8.36%
Top 25% over 5 years
Fund size
Larger = more stable, lower close-risk
Kernel
—
—
Mercer
NZ$84m
Lower half by size
| Metric | Kernel | Mercer | Lower / higher is |
|---|---|---|---|
| Annual fund charge | — | 1.34% | Lower is better |
| Risk indicator (1–7) | — | 5 | Higher = more volatility |
| 5-year return p.a. | — | 8.36% | Higher is better (past not future) |
| Fund size | — | NZ$84m | Larger = more stable, lower close-risk |
| Growth / income split | — | 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 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. |
Sources: Mercer on Sorted
What each fund says it does
Kernel
Kernel Global Infrastructure (NZD Hedged) Fund
Strategy summary not yet ingested.
Full Kernel Kernel Global Infrastructure (NZD Hedged) Fund profile →Mercer
Mercer Global Listed Infrastructure Fund
The fund invests in infrastructure securities in both developed and emerging markets across a range of sectors. This provides access to a range of infrastructure sectors across geographic regions, with active portfolio management that seeks to target excess returns and predictable, stable cash flows. Environmental, Social and Governance characteristics are integrated into the investment process. The fund aims to provide total returns (income and capital growth) after costs and before tax, above the FTSE Developed Core Infrastructure 50/50 Index (100% hedged to theFull Mercer Mercer Global Listed Infrastructure Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Kernel
Not yet crawled. View fund page for FMA Disclose link.
Common questions
What's the difference between the Kernel Global Infrastructure (NZD Hedged) Fund and the Mercer Global Listed Infrastructure Fund?
Both are other funds available to NZ retail investors. Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
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Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.