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 focus. Mint Australasian Property Fund concentrates entirely on New Zealand-listed real estate investment trusts and property companies — its five largest holdings are all NZ-domiciled entities, with Precinct Properties, Kiwi Property Group, and Goodman Property Trust together accounting for over half the portfolio. Pathfinder Global Property Fund, by contrast, holds internationally diversified listed property, with its top positions spanning US industrial logistics (Prologis), healthcare real estate (Welltower), and data-centre operators (Digital Realty Trust, Equinix) — a sector mix absent from the Mint portfolio entirely.
Both funds sit at risk indicator 5 on the standard 1–7 scale and carry an identical growth-assets allocation of 98.31%. Fund sizes are comparable: Mint at approximately NZD 19.3 million and Pathfinder at approximately NZD 16.8 million. Pathfinder's disclosed annual fund charge is 1.00% versus Mint's 1.04%, a modest difference. On the five-year return figure reported in each fund's latest Quarterly Fund Update, Pathfinder shows 2.55% per annum against Mint's 0.89% per annum; investors should note that this period captures materially different currency, rate, and sector exposures given the geographic divergence, so the figures are not directly like-for-like. Neither fund is structured as a KiwiSaver scheme account.
Always verify fees, returns, and holdings against the current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on any figures here.
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
- 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
- Quarterly Fund Update312 kB · file fingerprint recorded
- Supporting document648 kB · file fingerprint recorded
- Annual Report361 kB · file fingerprint recorded
- Statement of Investment Policy158 kB · file fingerprint recorded
- Product Disclosure Statement1853 kB · file fingerprint recorded
- Supporting document1425 kB · file fingerprint recorded
- + 2 more on the fund page
Pathfinder
LiveLast verified 2026-05-08
- Supporting document490 kB · file fingerprint recorded
- Supporting document5160 kB · file fingerprint recorded
- Supporting document6356 kB · file fingerprint recorded
- Supporting document11086 kB · file fingerprint recorded
- Supporting document13994 kB · file fingerprint recorded
- Supporting document11709 kB · file fingerprint recorded
- + 9 more on the fund page
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?
