Fund-vs-fund · Australasian Equities
NZ Funds New Zealand and Australian Shares vs Salt Long Short 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.
What's different at a glance
- NZ Funds New Zealand and Australian Shares charges 0.69% lower in annual fund charges (2.52% vs 3.21%).
- 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
NZ Funds
2.52%
Highest 3% of cohort
Salt
3.21%
Highest 1% of cohort
5-year return p.a.
Past performance — not a predictor
NZ Funds
4.59%
Upper half over 5 years
Salt
13.56%
Top 3% over 5 years
Fund size
Larger = more stable, lower close-risk
NZ Funds
NZ$194m
Largest 20% in cohort
Salt
NZ$178m
Largest 22% in cohort
| Metric | NZ Funds | Salt | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 2.52% | 3.21% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | 4.59% | 13.56% | Higher is better (past not future) |
| Fund size | NZ$194m | NZ$178m | 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.
0 overlapping top-10 holdings. The two funds disclose disjoint top-10 sets — useful diversification signal if you held both.
What each fund says it does
NZ Funds
NZ Funds New Zealand and Australian Shares
The objective of the New Zealand and Australian Shares fund is to grow your investment over the long term by investing in growth assets and other authorised assets with active management. The fund is anticipated to mainly own and trade New Zealand and Australian shares over the minimum suggested timeframe.Full NZ Funds NZ Funds New Zealand and Australian Shares profile →
Salt
Salt Long Short Fund
The Fund aims to deliver positive absolute returns in all market environments. In addition to holding long-only New Zealand and Australian securities, the Fund may, at our discretion short sell securities, hold cash, lever its assets and utilise active currency management to generate returns (although generally will be fully hedged). The investment objective is to outperform the Reserve Bank of New Zealand Official Cash Rate +5% p.A. On a rolling three year basis.Full Salt Salt Long Short Fund profile →
Common questions
What's the difference between the NZ Funds New Zealand and Australian Shares and the Salt Long Short Fund?
Both are australasian equities funds available to NZ retail investors. NZ Funds New Zealand and Australian Shares charges 0.69% lower in annual fund charges (2.52% vs 3.21%).
Which fund has lower fees, NZ Funds New Zealand and Australian Shares or Salt Long Short Fund?
NZ Funds New Zealand and Australian Shares has the lower annual fund charge (2.52% p.a. vs 3.21% p.a.). Source: each fund's most recent Quarterly Fund Update on the FMA Disclose register.
How do the 5-year returns compare?
NZ Funds New Zealand and Australian Shares's 5-year return p.a. is 4.59% and Salt Long Short Fund's is 13.56% (after fees, before tax). Past performance is not a reliable indicator of future returns.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
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Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.