Benchmark consistency

A single high return can be luck. This ranks NZ managed funds by how often they beat their own benchmark — the market index named in each fund's regulated fund update — year after year, after fees and tax. Of 146 funds with at least 3 measured years, 20 beat their benchmark in more than half of them.

Track record to 31 March 2026.These figures come from the FMA's consolidated fund-update dataset, whose latest published file covers periods up to 31 March 2026. Treat this as a historical track record, not current-year performance. Past performance is not a guide to the future.

By category

Most consistent vs benchmark (all categories)

Top 20 of 146, by share of measured years beating benchmark.

#	Fund	Category	Beat benchmark	Hit rate
1	Harbour Long Short Fund Harbour	Australasian Equities	3 / 4 yrs	75%
2	Mint New Zealand SRI Equity Fund Mint	Australasian Equities	4 / 6 yrs	67%
3	Pie Growth UK & Europe Fund Pie Funds	International Equities	4 / 6 yrs	67%
4	NZ Funds Wealth Builder - Income Strategy NZ Funds	Diversified	2 / 3 yrs	67%
5	Clarity New Zealand Equity Fund Clarity	Australasian Equities	2 / 3 yrs	67%
6	Salt Long Short Fund Salt	Australasian Equities	7 / 11 yrs	64%
7	Fisher Funds Property & Infrastructure Fund Fisher Funds	Listed Property	7 / 11 yrs	64%
8	Salt Enhanced Property Fund Salt	Listed Property	7 / 11 yrs	64%
9	Clarity Fixed Income Fund Clarity	International FI	5 / 8 yrs	63%
10	Salt NZ Dividend Appreciation Fund Salt	Australasian Equities	6 / 10 yrs	60%
11	Amova Global Shares Fund Amova	International Equities	3 / 5 yrs	60%
12	Brandywine Global Opportunistic Fixed Income Fund Brandywine	International FI	3 / 5 yrs	60%
13	Devon Alpha Fund Devon	Australasian Equities	8 / 14 yrs	57%
14	Mint Australasian Equity Fund Mint	Australasian Equities	8 / 14 yrs	57%
15	Harbour T. Rowe Price Global Equity Fund Harbour	International Equities	4 / 7 yrs	57%
16	Pie Global Growth Fund 2 Pie Funds	International Equities	5 / 9 yrs	56%
17	Clarity Dividend Yield Fund Clarity	International Equities	5 / 9 yrs	56%
18	Harbour Australasian Equity Fund Harbour	Australasian Equities	6 / 11 yrs	55%
19	Clarity Trans-Tasman Value Fund Clarity	Australasian Equities	6 / 11 yrs	55%
20	Devon Dividend Yield Fund Devon	Australasian Equities	7 / 13 yrs	54%

Methodology & sources

For each fund we count the years its after-fee, after-tax annual return exceeded the annual return of its own market index, as published in the FMA's consolidated Managed Investment Scheme fund-update dataset. Funds with fewer than 3 measured years are not ranked. The benchmark is the index each fund names in its fund update, not a category average — so the comparison is to the fund's own stated yardstick.

Past performance is not indicative of future returns. Beating a benchmark in the past does not predict future outperformance, and after-fee return, risk and tax all matter. ManagedFundsNZ provides information only, not personalised financial advice — for advice, see a licensed financial adviser.

FMA Disclose fund-update data