Fund-vs-fund · Australasian Equities
Mercer Responsible Trans-Tasman Shares Fund vs TAHITO Te Tai o Rehua Fund
Both are Australasian 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.
Why these two differ
The most material structural difference between these two funds is their five-year return history. TAHITO Te Tai o Rehua Fund returned 3.59% per annum over five years, while Mercer Responsible Trans-Tasman Shares Fund returned 0.01% per annum over the same period — a gap of roughly 3.58 percentage points annually within the same Australasian Equities category and an identical risk indicator of 5 (out of 7) and identical growth asset allocation of 98.31%.
Fee structures diverge meaningfully as well. TAHITO charges an annual fund charge of 1.28%, compared with Mercer's 1.06%, a difference of 22 basis points. Both funds are similarly sized — Mercer at approximately NZD 31.7 million and TAHITO at approximately NZD 29.0 million — so scale does not obviously explain the fee gap.
Portfolio concentration differs notably. Mercer's top holding, Fisher & Paykel Healthcare, represents 16.29% of the fund, and the top five holdings account for roughly 49% of the portfolio. TAHITO's top five holdings are more evenly spread, with Meridian Energy at 7.79% and the top five collectively around 28.9%, suggesting a materially less concentrated portfolio at least at the top-holding level.
Both fund approaches carry an ESG or values-based framing — Mercer's by "Responsible" mandate and TAHITO's through its explicitly Māori values-led investment philosophy — though the specific screening criteria are not captured in the QFU data and readers should consult each fund's SIPO for detail.
Always verify all figures against the source PDS and latest Quarterly Fund Update on FMA Disclose before relying on any of this information.
Cached comparison generated 2026-05-21 from each fund's latest FMA Disclose QFU. Regenerated when the underlying facts change.
What's different at a glance
- Mercer Responsible Trans-Tasman Shares Fund charges 0.20% lower in annual fund charges (1.06% vs 1.26%).
- 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 58 australasian equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Mercer
1.06%
Upper half of cohort
TAHITO
1.26%
Highest 16% of cohort
5-year return p.a.
Past performance — not a predictor
Mercer
0.01%
Bottom 1% over 5 years
TAHITO
1.77%
Upper half over 5 years
Fund size
Larger = more stable, lower close-risk
Mercer
NZ$32m
Lower half by size
TAHITO
NZ$27m
Lower half by size
| Metric | Mercer | TAHITO | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.06% | 1.26% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 0.01% | 1.77% | Higher is better (past not future) |
| Fund size | NZ$32m | NZ$27m | 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 smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | Yes | Yes | 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.
Matching holdings
4
of each fund's top 10
Mercer weight in shared
27.7%
of Mercer Responsible Trans-Tasman Shares Fund top 10 is shared
TAHITO weight in shared
23.2%
of TAHITO Te Tai o Rehua Fund top 10 is shared
| Holding | Mercer | TAHITO |
|---|---|---|
 Meridian Energy Limited NZ | 5.22% | 8.28% |
 Fisher & Paykel Healthcare Corporation Limited NZ | 16.29% | 4.33% |
 Summerset Group Holdings Limited NZ | 3.13% | 3.90% |
 Spark New Zealand Limited NZ | 3.05% | 6.68% |
"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
Mercer
Mercer Responsible Trans-Tasman Shares Fund
The fund is a diversified portfolio of predominantly New Zealand shares across a range of industries and sectors. The portfolio may also invest in Australian shares. The fund is managed to include specific additional responsible exclusions criteria which aims to avoid investments in certain companies or activities, and is managed with reference to environmental, social and governance factors. This fund has additional exclusions applied as described in our Sustainable Investment Policy and has been certified by the Responsible Investment Association of AustralasiaFull Mercer Mercer Responsible Trans-Tasman Shares Fund profile →
TAHITO
TAHITO Te Tai o Rehua Fund
The Fund is an indigenous ethical and sustainable fund. The Fund Uses positive Environment, Social and Governance (ESG) integrated screens in selecting investments. Māori indigenous values and principles serve as the foundation to the Fund’s philosophy and investment selection process. The Fund will provide actively managed exposure to a portfolio of primarily New Zealand and Australian companies that have been selected in accordance with the TAHITO investment philosophy. The Fund aims to generate a better return than the benchmark over the medium to long term.Full TAHITO TAHITO Te Tai o Rehua Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
TAHITO
Common questions
What's the difference between the Mercer Responsible Trans-Tasman Shares Fund and the TAHITO Te Tai o Rehua Fund?
Which fund has lower fees, Mercer Responsible Trans-Tasman Shares Fund or TAHITO Te Tai o Rehua Fund?
How do the 5-year returns compare?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
