Fund-vs-fund · Listed Property
NZ Funds Global Property vs NZ Funds New Zealand Property and Retirement Villages
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 their geographic and sectoral exposure. NZ Funds Global Property allocates to international real estate securities — its disclosed top holdings include US-listed data centre REITs Equinix Inc (3.29%) and Digital Realty Trust Inc (3.21%), alongside retail REIT Kimco Realty Corp (3.18%) — while NZ Funds New Zealand Property and Retirement Villages concentrates entirely in domestic listed property and retirement village operators, with Goodman Property Trust (9.71%), Precinct Properties Group (9.00%), Ryman Healthcare (8.42%), and Summerset Group Holdings (8.27%) dominating its portfolio. This geographic distinction drives a second structural difference: growth asset allocation. Global Property holds 78.48% in growth assets versus 53.20% for NZ Property and Retirement Villages, meaning the latter carries a proportionally larger defensive or income-oriented component within the same risk indicator band.
Despite this, both funds share identical annual fund charges of 2.52% and carry the same risk indicator of 5 on the standard 1–7 scale. Fund sizes are similar — NZ$51.3 million versus NZ$43.7 million respectively. Neither fund discloses a five-year return figure in this snapshot, so historical performance comparisons cannot be drawn from this data alone. Both funds sit under the same Active Growth Series PDS dated 28 October 2025 and are managed by NZ Funds.
Readers should verify all figures, including current fees, asset allocations, and any updated return data, against each fund's product disclosure statement 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
- Annual fund charges are within 0.05% of each other (2.52% vs 2.52%).
- 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
NZ Funds
2.52%
Highest 7% of cohort
NZ Funds
2.52%
Highest 7% of cohort
5-year return p.a.
Past performance — not a predictor
NZ Funds
—
—
NZ Funds
—
—
Fund size
Larger = more stable, lower close-risk
NZ Funds
NZ$51m
Upper half by size
NZ Funds
NZ$44m
Upper half by size
| Metric | NZ Funds | NZ Funds | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 2.52% | 2.52% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$51m | NZ$44m | Larger = more stable, lower close-risk |
| Growth / income split | 78% / 22% | 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.
Matching holdings
2
of each fund's top 10
NZ Funds weight in shared
9.9%
of NZ Funds Global Property top 10 is shared
NZ Funds weight in shared
7.4%
of NZ Funds New Zealand Property and Retirement Villages top 10 is shared
| Holding | NZ Funds | NZ Funds |
|---|---|---|
 Westpac Cash NZ | 6.46% | 3.80% |
| GS Goldman Sachs Futures US | 3.49% | 3.61% |
"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
NZ Funds
NZ Funds Global Property
The objective of the Global Property fund is to mitigate the impact of inflation on your investment over the medium and/or long term with active management. The fund is anticipated to mainly own and trade international property company shares. The fund may also hold other actively managed authorised asset classes.Full NZ Funds NZ Funds Global Property profile →
NZ Funds
NZ Funds New Zealand Property and Retirement Villages
The objective of the New Zealand Property and Retirement Villages fund is to mitigate the impact of inflation on your investment over the medium and/or long term with active management. The fund is anticipated to mainly own and trade New Zealand property and retirement village company shares. The fund may also hold Australian shares and other actively managed authorised asset classes.Full NZ Funds NZ Funds New Zealand Property and Retirement Villages profile →
Common questions
What's the difference between the NZ Funds Global Property and the NZ Funds New Zealand Property and Retirement Villages?
Which fund has lower fees, NZ Funds Global Property or NZ Funds New Zealand Property and Retirement Villages?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
