Fund-vs-fund · International Equities
Schroder Sustainable Global Core PIE Fund vs Te Ahumairangi Global Equity Fund
Both are International 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: 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.
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
- 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 82 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%
Lower half of cohort
Te Ahumairangi
0.62%
Upper 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 | InvestNow · Direct | InvestNow · 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
Schroders weight in shared
8.0%
of Schroder Sustainable Global Core PIE Fund top 10 is shared
Te Ahumairangi weight in shared
6.6%
of Te Ahumairangi Global Equity Fund top 10 is shared
| Holding | Schroders | Te Ahumairangi |
|---|---|---|
 Microsoft Corporation US | 3.29% | 4.36% |
 Apple Inc US | 4.72% | 2.26% |
"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
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?
