Fund-vs-fund · International Equities
Schroder Sustainable Global Core PIE FundvsTe Ahumairangi Global Equity Fund
Schroder Sustainable Global Core PIE Fund (fund size NZ$946.0 million, annual fund charge 0.39%) and Te Ahumairangi Global Equity Fund (fund size NZ$889.3 million, annual fund charge 0.62%) are both international equities managed funds, as shown on Sorted Smart Investor on 22 May 2026; for the year to 31 March 2026 their 1-year returns after fees and tax were 19.05% and 19.26%, per their quarterly fund updates filed on FMA Disclose.
How much do these two overlap?
They hold 1 of the same securities. If you held both, roughly 0.0% of your money would be in the same companies — so the diversification you get from holding the pair is smaller than holding two funds suggests.
| Shared holding | Schroder Sustainable | Te Ahumairangi | Min weight |
|---|---|---|---|
| Next | 0.04% | 0.94% | 0.04% |
Min weight is the smaller of the two weightings — if you hold both funds, that is the floor of your exposure to that position. Direct holdings only: anything either fund holds through an underlying fund or ETF is not counted, so the real overlap can only be higher. From each fund's FMA Disclose full portfolio filing.
Where you can buy these
Platform availability confirmed within the last 180 days. This is a statement of availability, not a recommendation — ManagedFundsNZ is not a Financial Advice Provider. Check the current PDS before investing.
Schroder Sustainable Global Core PIE Fund
No platform availability confirmed. Usually means it is bought directly from the manager — check their site.
Te Ahumairangi Global Equity Fund
Why these two differ
The most material structural difference between these two funds is their risk profile: the Schroder Sustainable Global Core PIE Fund carries a risk indicator of 5, while Te Ahumairangi Global Equity Fund sits at 4, on the standard 1–7 scale used by FMA Disclose. Both funds allocate virtually identical proportions to growth assets (98.31% each), so this difference in risk rating most likely reflects variation in return volatility rather than asset allocation mix.
On fees, the Schroder fund charges 0.39% per annum versus Te Ahumairangi's 0.62% — a gap of 23 basis points that compounds meaningfully over time on comparable fund sizes. Both funds are of similar scale: Te Ahumairangi at approximately NZD $889 million and Schroder at approximately NZD $946 million.
Portfolio construction differs notably. Te Ahumairangi's top holdings lean toward value-tilted names such as Verizon Communications and Everest Group alongside large-cap technology; Schroder's top holdings are concentrated in mega-cap growth technology — NVIDIA, Apple, Microsoft, Amazon, and Alphabet — consistent with a broad global index-aware approach with a sustainability screen embedded in its name. Neither fund discloses a five-year return figure in the current snapshot, so historical performance comparison is not possible here.
Five-year return data is absent for both funds in this snapshot, which limits any assessment of risk-adjusted outcomes. Always verify current fees, returns, and portfolio details against each fund's product disclosure statement and latest quarterly fund update on FMA Disclose before relying on any of this information.
Comparison generated 2026-05-21 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
- Schroder Sustainable Global Core PIE Fund charges 0.23% lower in annual fund charges (0.39% vs 0.62%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Schroder Sustainable Global Core PIE Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 84 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Schroders
0.39%
Lowest 25% of cohort
Te Ahumairangi
0.62%
Lower half of cohort
5-year return p.a.
Past performance — not a predictor
Schroders
—
—
Te Ahumairangi
—
—
Fund size
Larger = more stable, lower close-risk
Schroders
NZ$946m
Largest 5% in cohort
Te Ahumairangi
NZ$889m
Largest 7% in cohort
| Metric | Schroders | Te Ahumairangi | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.39% | 0.62% | Lower is better |
| Risk indicator (1–7) | 5 | 4 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$946m | NZ$889m | 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 | Unhedged | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | Yes | No | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
What each fund says it does
Schroders
Schroder Sustainable Global Core PIE Fund
The fund aims to provide exposure to global listed equities and is an actively managed strategy designed to target outperformance relative to the benchmark index with limited risk relative to the index. This strategy provides the benefits of index-based investing from a risk and cost perspective with the advantage of relative performance upside potential.Full Schroders Schroder Sustainable Global Core PIE Fund profile →
Te Ahumairangi
Te Ahumairangi Global Equity Fund
The fund invests in global equities across various listed equity markets and will typically maintain a small weight (0 to 5%) in cash to maintain liquidity / flexibility but will occasionally hold a higher cash weighting if the investment manager considers this appropriate. The fund may use leverage of up to 5% of the aggregate value of its investments, but only for the purposes of providing short-term liquidity. The fund may use forward foreign exchange contracts to tilt the foreign exchange exposures of the portfolio but will typically have over 90% net unhedgedFull Te Ahumairangi Te Ahumairangi Global Equity Fund profile →
Common questions
What's the difference between the Schroder Sustainable Global Core PIE Fund and the Te Ahumairangi Global Equity Fund?
Which fund has lower fees, Schroder Sustainable Global Core PIE Fund or Te Ahumairangi Global Equity Fund?
Are both funds PIE-taxed in NZ?
Does either fund apply responsible-investment screening?
Where can I read the official documents for these funds?
