Brandywine Global Opportunistic Equity Fund
Brandywine Global Opportunistic Equity Fund is an international equities managed fund from Brandywine with a fund size of NZ$410.3 million and an annual fund charge of 0.93%, as shown on Sorted Smart Investor on 22 May 2026; its 1-year return after fees and tax was 13.85% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
Managed by BrandywineFund data last refreshed · holdings as filed to 31/03/2026
Brandywine Global Opportunistic Equity Fund is a international equities managed fund operated by Brandywine; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 0.93% · minimum investment NZ$50,000 · distributions no distributions (accumulating). Compared with 83 other same-category funds on this site, the 0.93% annual fund charge sits above the same-category median of 0.62%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See ourPIR guideandPIE tax basicsfor the full picture, or use thePIR calculatorto confirm your rate.
Annual fund charge
0.93%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.91%
Fund size
NZ$410.3m
98% growth · 2% income
The investment objective of the Equity Fund is to earn a return before fees and taxes in excess of the MSCI All Country World Index NR, in New Zealand dollar terms, over the medium to long term.
How Brandywine Global Opportunistic Equity Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- MSCI All Country World Index NR
- Top 3 holdings
- Us Dollar (4.5%) · Baidu Inc (3.4%) · Bnp Paribas Sa (3.3%)
Key facts
Fund start date
21 March 2025
Min. investment
NZ$50,000
Subsequent: NZ$5,000
Distributions
No distributions (accumulating)
Buy / sell spread
0 bps (0.00%) / 0 bps (0.00%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Global equities | 100% | 90% | 100% |
| Cash and Cash Equivalents | — | 0% | 10% |
Derivatives policy
Derivatives including forwards, futures, options, mortgage derivatives, structured notes, and swaps may be used to obtain or reduce exposure to securities, markets, or currencies, to manage cash flows, or to facilitate timely exposure to securities. Use of derivatives may result in a Fund being leveraged if not backed by cash, cash equivalents, or securities.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- FundRock NZ acknowledges that because it and registry manager Apex NZ share the same ultimate parent (Apex Group), FundRock may agree commercial terms more favourable to Apex NZ than to investors.
- FundRock NZ discloses that registry services for the Scheme are provided by Apex NZ, a related party under common ownership of Apex Group Limited, creating a potential cost conflict for investors.
- Franklin Templeton Australia acknowledges its association with other Franklin Templeton entities may bias asset allocation toward Franklin Templeton funds rather than direct assets or third-party funds, potentially disadvantaging investors.
- The OMI discloses no performance-fee mechanic for these Funds; no compounding performance-fee cost to investors is described in the disclosed materials.
Generated 2026-05-28 from Franklin Templeton Investment Funds OMI (dated 2026-03-27). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Public Trust
Auditor
PricewaterhouseCoopers
Custodian
BNP Paribas Fund Services Australasia Pty Limited
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- FundRock NZ Limited and the Scheme's registry manager Apex Investment Administration (NZ) Limited are ultimately owned by Apex Group Limited, which may influence FundRock to agree commercial terms with Apex NZ more favourable to Apex NZ than would otherwise be the case, benefiting Apex NZ at the expense of investors.
- The Investment Manager's association with other Franklin Templeton funds could influence it to invest the assets of the Funds into other Franklin Templeton funds instead of into direct assets or investment funds managed by third parties, potentially adversely affecting investors if those investments are not on arms' length terms or if direct/third-party investment would be more efficient.
- Parties related to the Funds, including staff of Franklin Templeton and their families and staff of FundRock and their families, may from time to time invest in the Funds.
How this fund compares to peers
Mechanical comparison vs the 84 other international equities funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Brandywine Global Opportunistic Equity Fund: 0.93% per annum. International Equities median across 84 funds:0.62%. This fund is 0.31 percentage points above the category median.
Annual fund charge
0.93%
Category median: 0.62%
Mid-pack — cheaper than 38% of peers
Fund size
NZ$410.3m
Category median: NZ$104.3m
Top 18% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$456
Compounded charge over 5 years (excl. returns)
$150 more than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Complete portfolio
This fund files 74 holdings with the FMA as at 31/03/2026. The largest 25 are shown.
Top 10 concentration: 29.0% of net assets.
Direct disclosed holdings only — a floor on exposure, not a total. Filings list wrappers and securities together, so a fund holding another fund shows no look-through here. Disclosed rows account for 100.0% of net assets. Percentages are of this fund's net assets and are safe to sum within this fund only.
| Holding | % of fund | |
|---|---|---|
| US DOLLAR | 4.55% | |
| BAIDU INC | 3.39% | |
| BNP PARIBAS SA | 3.31% | |
| AERCAP HOLDINGS NV | 3.10% | |
| KIMBERLY-CLARK CORP | 2.67% | |
| ALPHABET INC | 2.56% | |
| ABERCROMBIE & FITCH CO | 2.49% | |
| CONSTELLATION SOFTWARE INC/CANADA | 2.46% | |
| COMCAST CORP | 2.28% | |
| SALESFORCE INC | 2.18% | |
| GLOBAL PAYMENTS INC | 2.18% | |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 2.13% | |
| SHIMAMURA CO LTD | 1.90% | |
| KROGER CO/THE | 1.89% | |
| BANK RAKYAT INDONESIA PERSERO TBK PT | 1.89% | |
| OPEN HOUSE GROUP CO LTD | 1.86% | |
| ON SEMICONDUCTOR CORP | 1.76% | |
| DIAGEO PLC | 1.71% | |
| GSK PLC | 1.69% | |
| ICON PLC | 1.66% | |
| WILLIS TOWERS WATSON PLC | 1.61% | |
| CVS HEALTH CORP | 1.58% | |
| DOLLAR GENERAL CORP | 1.57% | |
| SANOFI SA | 1.53% | |
| VALERO ENERGY CORP | 1.52% |
Every NZ managed fund must file its complete portfolio with the FMA each quarter. Where a line is itself a fund, trust or ETF, the securities inside it are not broken out here.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
UDUs Dollar | 4.55% |
BABaidu Inc | 3.39% |
BPBnp Paribas Sa | 3.31% |
AEAercap Holdings Nv | 3.09% |
KIKimberly-Clark Corp | 2.67% |
 Alphabet Inc | 2.56% |
AFAbercrombie & Fitch Co | 2.49% |
CSConstellation Software Inc/Canada | 2.46% |
 Comcast Corp | 2.28% |
 Salesforce Inc | 2.18% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- BRANDYWINE GLOBAL OPPORTUNISTIC EQUITY FUND (FND56046) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 2.23 KB
- 20260401 Franklin Templeton Investment Funds PDS.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 419.45 KB
- 20260331 Brandywine Global Opportunistic Equity QFU.pdf The quarterly update published by the provider PDF, 448.41 KB
- 20260401 Franklin Templeton Investment Funds OMI.pdf Other Material Information document PDF, 294.09 KB
- 20260401 Franklin Templeton Investment Funds SIPO.pdf Statement of investment policy and objectives PDF, 418.35 KB
About this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Brandywine
Franklin Templeton-owned global fixed-income specialist; PIE wrapper available in NZ.
Brandywine has 2 retail funds in our coverage across International FI and International Equities strategies, with annual fund charges from 0.77% to 0.93% a year.
Parent: Franklin Templeton — Brandywine Global is a specialist investment affiliate of Franklin Templeton.
Based in Philadelphia.
Head-to-head
Compare Brandywine Global Opportunistic Equity Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International Equities funds
FMA risk band
Same risk band (5/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Brandywine Global Opportunistic Equity Fund?
Brandywine Global Opportunistic Equity Fund is managed by Brandywine (parent: Franklin Templeton). Franklin Templeton-owned global fixed-income specialist; PIE wrapper available in NZ.
What asset class is the Brandywine Global Opportunistic Equity Fund?
It is a international equities managed fund. The fund has a growth risk profile. Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
What are the fees for the Brandywine Global Opportunistic Equity Fund?
The annual fund charge for the Brandywine Global Opportunistic Equity Fund is 0.93% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Brandywine Global Opportunistic Equity Fund?
The risk indicator is 5/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Brandywine Global Opportunistic Equity Fund a PIE fund?
Yes. The Brandywine Global Opportunistic Equity Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Brandywine Global Opportunistic Equity Fund?
Fund size (assets under management) is NZ$410 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Brandywine Global Opportunistic Equity Fund invest in?
The latest published top holdings are: Us Dollar (4.55%), Baidu Inc (3.39%), Bnp Paribas Sa (3.31%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Brandywine Global Opportunistic Equity Fund?
The Brandywine Global Opportunistic Equity Fund is available via Brandywine directly. Always read the current Product Disclosure Statement before investing.