Fund-vs-fund · Australasian Equities
Octagon New Zealand Equities Fund vs QuayStreet NZ Equity 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.
Why these two differ
The most material structural difference between these two funds is their risk profile and, relatedly, their portfolio composition despite sharing the same Australasian Equities category label. The QuayStreet NZ Equity Fund carries a risk indicator of 5 compared to Octagon's 4, yet its top five holdings are dominated by large Australian names — BHP Billiton, Commonwealth Bank of Australia, Westpac, ANZ Group, and Macquarie — suggesting meaningful trans-Tasman exposure that the "NZ Equity" name alone may not signal. Octagon's top holdings are entirely NZ-listed companies, led by Fisher & Paykel Healthcare at 14.68%, Auckland International Airport at 7.72%, and Infratil at 7.03%, pointing to a more purely domestic equity mandate in practice.
Both funds run near-identical growth asset allocations of 98.31%. Annual fund charges differ modestly: Octagon at 1.17% versus QuayStreet at 1.27%. Fund sizes are close — Octagon at approximately NZD 161.5 million, QuayStreet at approximately NZD 155.0 million.
The five-year return figures diverge significantly: Octagon reports 1.25% per annum and QuayStreet 7.14% per annum as at their respective latest quarterly fund updates, though past returns do not predict future performance and the measurement periods should be confirmed before drawing conclusions.
Readers should verify all figures, including current fees, portfolio weights, and return periods, against each fund's 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
- Octagon New Zealand Equities Fund charges 0.10% lower in annual fund charges (1.17% vs 1.27%).
- 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
Octagon
1.17%
Upper half of cohort
QuayStreet
1.27%
Highest 15% of cohort
5-year return p.a.
Past performance — not a predictor
Octagon
1.25%
Lower half over 5 years
QuayStreet
7.14%
Top 21% over 5 years
Fund size
Larger = more stable, lower close-risk
Octagon
NZ$161m
Largest 25% in cohort
QuayStreet
NZ$155m
Upper half by size
| Metric | Octagon | QuayStreet | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.17% | 1.27% | Lower is better |
| Risk indicator (1–7) | 4 | 5 | Higher = more volatility |
| 5-year return p.a. | 1.25% | 7.14% | Higher is better (past not future) |
| Fund size | NZ$161m | NZ$155m | 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.
What each fund says it does
Octagon
Octagon New Zealand Equities Fund
The New Zealand Equities Fund invests mostly in New Zealand shares, and can invest in Australian listed shares, where the company has meaningful operations in New Zealand. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/NZX50 Gross with Imputation Index.Full Octagon Octagon New Zealand Equities Fund profile →
QuayStreet
QuayStreet NZ Equity Fund
The QuayStreet Australian Equity Fund invests predominantly in companies that are in the ASX 200 Index. The investment objective is to provide a level of return above the fund’s benchmark over the long term.Full QuayStreet QuayStreet NZ Equity Fund profile →
Common questions
What's the difference between the Octagon New Zealand Equities Fund and the QuayStreet NZ Equity Fund?
Which fund has lower fees, Octagon New Zealand Equities Fund or QuayStreet NZ Equity 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?
