Fund-vs-fund · Listed Property
Mint Australasian Property Fund vs Pathfinder Global Property Fund
Both are Listed Property 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 geographic scope. The Mint Australasian Property Fund concentrates entirely in New Zealand-listed real estate investment trusts and property companies — Goodman Property Trust, Precinct Properties, Kiwi Property Group, Property for Industry, and Stride together account for roughly 76% of the portfolio. The Pathfinder Global Property Fund, by contrast, holds internationally listed property securities, with its five largest positions being US-domiciled REITs spanning logistics (Prologis), healthcare real estate (Welltower), data centres (Equinix and Digital Realty Trust), plus a meaningful cash holding of nearly 5% at Westpac NZD. This geographic divergence drives meaningfully different sector exposures and currency risk profiles despite both funds sitting at identical growth asset allocations of 98.31% and the same risk indicator of 5.
On fees, Pathfinder charges 1.00% annually versus Mint's 1.07%, a modest but real difference at similar fund sizes — Mint at approximately NZD 16.95 million and Pathfinder at approximately NZD 16.64 million. The five-year return figures diverge more sharply: Mint's latest Quarterly Fund Update records 2.51% per annum, while Pathfinder's shows 0.80% per annum, though differences in currency, sector mix, and measurement period should be weighed before drawing conclusions from that gap alone.
Both funds carry a risk indicator of 5 on the FMA's standard seven-point scale. Readers should verify all figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any of this data.
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
- Pathfinder Global Property Fund charges 0.07% lower in annual fund charges (1.00% vs 1.07%).
- 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 15 listed property funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Mint
1.07%
Upper half of cohort
Pathfinder
1.00%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Mint
2.51%
Lower half over 5 years
Pathfinder
0.80%
Bottom 4% over 5 years
Fund size
Larger = more stable, lower close-risk
Mint
NZ$17m
Smallest 23% in cohort
Pathfinder
NZ$17m
Smallest 17% in cohort
| Metric | Mint | Pathfinder | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.07% | 1.00% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 2.51% | 0.80% | Higher is better (past not future) |
| Fund size | NZ$17m | NZ$17m | 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 | 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.
Matching holdings
1
of each fund's top 10
Mint weight in shared
4.7%
of Mint Australasian Property Fund top 10 is shared
Pathfinder weight in shared
2.6%
of Pathfinder Global Property Fund top 10 is shared
| Holding | Mint | Pathfinder |
|---|---|---|
 Goodman Group AU | 4.68% | 2.58% |
"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
Mint
Mint Australasian Property Fund
The Fund invests predominantly in Australasian listed property and property-related equities. The Fund is benchmarked against the S&P/NZX All Real Estate (Industry Group) Gross Index with an investment objective of outperforming the benchmark after fees and expenses, over the medium to long term.Full Mint Mint Australasian Property Fund profile →
Pathfinder
Pathfinder Global Property Fund
The Fund invests directly in listed property companies that satisfy Pathfinder’s ethical investment criteria. The Fund targets a portfolio of 50 to 100 property companies.Full Pathfinder Pathfinder Global Property Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Mint
LiveLast verified 2026-05-08
Pathfinder
LiveLast verified 2026-05-08
Common questions
What's the difference between the Mint Australasian Property Fund and the Pathfinder Global Property Fund?
Which fund has lower fees, Mint Australasian Property Fund or Pathfinder Global Property 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?
