Fund-vs-fund · Diversified
Mint Diversified Income Fund vs Octagon Balanced Fund
Both are Diversified 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 diversified funds is their allocation to growth assets. The Octagon Balanced Fund holds 53.15% in growth assets, placing it firmly in balanced territory, while the Mint Diversified Income Fund sits at just 23.37% — a predominantly income-oriented positioning that drives meaningfully different risk profiles. This is reflected in their FMA risk indicators: Octagon rates a 4 (moderate) against Mint's 3 (low to moderate), meaning Mint's investors accept less volatility in exchange for a more defensive mix.
On fees, Mint charges 1.01% per annum versus Octagon's 1.17%, a 16 basis point difference that compounds over time regardless of market conditions. Fund size is similar — Octagon at approximately NZD 37.2 million, Mint at NZD 41.1 million — so neither holds a pronounced scale advantage.
The five-year return figures diverge considerably: Octagon has returned 3.18% per annum versus Mint's 1.35%, though the higher growth allocation in Octagon is the likely structural explanation rather than manager skill alone, and past performance does not indicate future returns.
Portfolio transparency differs notably. Octagon's top holding is a single fund-of-funds sleeve — the Hunter Global Fixed Interest Fund at 18.14% — giving a layer of indirect exposure, while Mint's disclosed top-holding weights are all below 0.20%, suggesting a more granular, direct-securities portfolio, though the low weights may also reflect a reporting snapshot rather than full portfolio concentration.
Always verify these figures against each fund's current Product Disclosure Statement and latest Quarterly Fund Update on FMA Disclose before relying on this comparison.
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
- Mint Diversified Income Fund charges 0.16% lower in annual fund charges (1.01% vs 1.17%).
- 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 67 diversified funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Mint
1.01%
Upper half of cohort
Octagon
1.17%
Upper half of cohort
5-year return p.a.
Past performance — not a predictor
Mint
1.35%
Bottom 13% over 5 years
Octagon
3.18%
Lower half over 5 years
Fund size
Larger = more stable, lower close-risk
Mint
NZ$41m
Lower half by size
Octagon
NZ$37m
Lower half by size
| Metric | Mint | Octagon | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.01% | 1.17% | Lower is better |
| Risk indicator (1–7) | 3 | 4 | Higher = more volatility |
| 5-year return p.a. | 1.35% | 3.18% | Higher is better (past not future) |
| Fund size | NZ$41m | NZ$37m | Larger = more stable, lower close-risk |
| Growth / income split | 23% / 77% | 53% / 47% | 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
Mint
Mint Diversified Income Fund
The Fund has a broad mandate which permits investments into New Zealand and international equities (including listed property if held), but will also hold cash and fixed-interest securities. The objective of the Fund is to deliver a total return (through a combination of income and capital growth) in excess of the Consumers Price Index (CPI) by 3% per annum, before fees, over the medium to long term. The relevant market index for the Fund is a composite index derived from the underlying asset classes of the Fund that make up the Fund's Strategic Asset Allocation.Full Mint Mint Diversified Income Fund profile →
Octagon
Octagon Balanced Fund
The Balanced Fund invests across multiple asset classes. Investors can expect moderate to high levels of movement up and down in value. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark.Full Octagon Octagon Balanced Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Mint
LiveLast verified 2026-05-08
Octagon
Common questions
What's the difference between the Mint Diversified Income Fund and the Octagon Balanced Fund?
Which fund has lower fees, Mint Diversified Income Fund or Octagon Balanced 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?
