Castle Point Trans-Tasman Fund
Managed by Castle Point Castle Point Trans-Tasman Fund is a australasian equities managed fund operated by Castle Point; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 1.05% · minimum investment NZ$10,000 · distributions quarterly. Compared with 57 other same-category funds on this site, the 1.05% annual fund charge sits above the same-category median of 1.00%.
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 our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.08%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
0.91%
peer avg 4.91%
Fund size
NZ$12.0m
98% growth · 2% income
The Fund invests in New Zealand and Australian listed companies and is benchmarked to the S&P/NZX 50 Index (including imputation credits). The performance objective of the Fund is to outperform the benchmark over rolling five-year periods after all fees (and other expenses) but before tax.
Benchmark track record
Compare Australasian Equities consistency →How Castle Point Trans-Tasman Fund performed against its own market-index benchmark each year, after fees and tax — from the FMA fund-update dataset. Historical track record, not current-year performance; past performance is not a guide to the future.
Beat its benchmark in 1 of 3 years
annual returns to 30/06/2022Since inception: 7.76% p.a. after fees & tax vs benchmark 7.07%.
How Castle Point Trans-Tasman Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- S&P/NZX 50 Index (including imputation credits)
- Top 3 holdings
- Fisher & Paykel Healthcare Ltd (16.0%) · Infratil Ltd (9.9%) · Auckland International Airport Ltd (9.7%)
Key facts
Fund start date
20 November 2018
Min. investment
NZ$10,000
Subsequent: NZ$1,000
Distributions
Quarterly
Buy / sell spread
15 bps (0.15%) / 15 bps (0.15%)
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 |
|---|---|---|---|
| Cash and cash equivalents | 2% | 0% | 10% |
| Australasian equities | 98% | 90% | 100% |
| New Zealand equities | — | 65% | 100% |
| Australian equities | — | 0% | 25% |
| Individual listed equity | — | 0% | — |
Responsible-investment approach
ESG measures are incorporated into the research process via three approaches: positive screening (actively seeking investments with long-term positive ESG attributes), negative screening/blacklisting (excluding sectors, industries, companies and practices with materially negative ESG attributes), and research and engagement to understand historical or current issues and actions being taken. Castle Point is a founding signatory to the Stewardship Code Aotearoa New Zealand and a signatory to the UNPRI.
Exclusions
- Sectors, industries, companies and practices with materially negative ESG attributes (as maintained on the blacklist by the Investment Committee)
- Unlisted equities
- Fixed interest
- Derivatives (tail risk/other)
- International (non-Australasian) equities
Derivatives policy
Derivatives can only be used in accordance with the investment strategy of each fund for risk management, hedging (including currency), and implementing investment opportunities. A counterparty assessment and approval process is maintained and a list of approved counterparties is kept by the compliance team.
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.
- Castle Point runs two active funds (Ranger Fund and 5 Oceans Fund) and charges a performance fee of 15% (plus GST) of returns above the NZ Official Cash Rate plus 5% per half-year period.
- Castle Point applies a perpetual high-water mark to both funds, meaning performance fees are only charged on returns above the highest previously crystallised unit price.
- Castle Point states the high-water mark cannot be reset by the manager and is the same for all investors in each fund, regardless of when they invested.
Generated 2026-05-29 from Castle Point Funds PDS (dated 2026-03-31). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
How this fund compares to peers
Mechanical comparison vs the 58 other australasian equities funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.08%
Category median: 1.01%
Mid-pack — cheaper than 37% of peers
5y return p.a. (after fees)
+0.91%
Category median: +1.68%
Below peer median (38th percentile)
Fund size
NZ$12.0m
Category median: NZ$74.1m
9th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$528
Compounded charge over 5 years (excl. returns)
$34 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.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
 Fisher & Paykel Healthcare Ltd | 16.03% |
 Infratil Ltd | 9.92% |
 Auckland International Airport Ltd | 9.71% |
 Contact Energy Ltd | 8.03% |
 A2 Milk Company Ltd | 5.77% |
 Meridian Energy Limited | 5.39% |
 Mainfreight Ltd | 4.61% |
 Mercury NZ Limited | 4.36% |
 Ebos Group Ltd | 2.97% |
 Spark New Zealand Ltd | 2.95% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CASTLE POINT TRANS-TASMAN FUND (FND12482) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.68 KB
- 2026 04 PDS Ranger.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.48 MB
- Trans Tasman Fund update 31 March 2026.pdf The quarterly update published by the provider PDF, 1.68 MB
- 2026 04 PDS 5 Oceans.pdf Additional product disclosure statement from the provider PDF, 1.43 MB
- 2026 04 PDS Trans Tasman.pdf Additional product disclosure statement from the provider PDF, 1.31 MB
- SIPO 2026 03.pdf Statement of investment policy and objectives PDF, 1.33 MB
About this category
Funds investing primarily in shares listed on the NZX (New Zealand) or ASX (Australia), or both as Trans-Tasman portfolios. Includes active stock-pickers and passive index trackers.
About Castle Point
Wellington-based active manager with concentrated trans-Tasman and global multi-asset funds.
See all funds from Castle Point →Common questions
Questions people ask about Castle Point Trans-Tasman Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
Is 0.25% a high management fee?
Management fees vary by fund type and asset class. Castle Point Trans-Tasman Fund has an annual fund charge of 1.08% p.a., which is marginally higher than the peer-cohort average of 0.95% p.a. for comparable Australasian equity funds. For context on what constitutes high or low fees across different fund categories, see the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/.
What is a reasonable ETF management fee?
ETF fees differ structurally from managed funds and are typically lower because ETFs track indexes passively, whereas active managers incur research and stock-selection costs. Castle Point Trans-Tasman Fund is an active managed fund (not an ETF) with an annual fund charge of 1.08% p.a. To compare fees across ETFs and managed funds in different asset classes, use the FMA Disclose register.
What is the best stock to invest in in NZ?
Individual stock selection is a matter of personal investment strategy and risk tolerance, not a factual question we can answer. Castle Point Trans-Tasman Fund's top holdings as at the latest QFU include Fisher & Paykel Healthcare Ltd (16.03%), Infratil Ltd (9.92%), and Auckland International Airport Ltd (9.71%); for the full portfolio and the fund manager's investment rationale, see the latest Product Disclosure Statement at https://castlepoint.co.nz.
Head-to-head
Compare Castle Point Trans-Tasman Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian 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.
View risk band 5 funds →AI & integrations
Use this fund inside the tools you already use
Every fund on ManagedFundsNZ ships in three formats so AI assistants and data tools can consume it without scraping: a canonical HTML page, a plain Markdown twin, and a structured JSON twin. Citation back to the canonical URL is required; full reuse policy at /llms-policy.txt.
- Canonical (HTML)managedfunds.nz/funds/castle-point/trans-tasman/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/castle-point/trans-tasman/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/castle-point/trans-tasman/data.jsonMachine-parseable.
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 Castle Point Trans-Tasman Fund?
Castle Point Trans-Tasman Fund is managed by Castle Point. Wellington-based active manager with concentrated trans-Tasman and global multi-asset funds.
What asset class is the Castle Point Trans-Tasman Fund?
It is a australasian equities managed fund. Funds investing primarily in shares listed on the NZX (New Zealand) or ASX (Australia), or both as Trans-Tasman portfolios. Includes active stock-pickers and passive index trackers.
What are the fees for the Castle Point Trans-Tasman Fund?
The annual fund charge for the Castle Point Trans-Tasman Fund is 1.08% 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 Castle Point Trans-Tasman 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 Castle Point Trans-Tasman Fund a PIE fund?
Yes. The Castle Point Trans-Tasman 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 Castle Point Trans-Tasman Fund?
Fund size (assets under management) is NZ$12 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Castle Point Trans-Tasman Fund invest in?
The latest published top holdings are: Fisher & Paykel Healthcare Ltd (16.03%), Infratil Ltd (9.92%), Auckland International Airport Ltd (9.71%). 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 Castle Point Trans-Tasman Fund?
The Castle Point Trans-Tasman Fund is available via Castle Point directly. Always read the current Product Disclosure Statement before investing.
Is 0.25% a high management fee?
Management fees vary by fund type and asset class. Castle Point Trans-Tasman Fund has an annual fund charge of 1.08% p.a., which is marginally higher than the peer-cohort average of 0.95% p.a. for comparable Australasian equity funds. For context on what constitutes high or low fees across different fund categories, see the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/.
What is a reasonable ETF management fee?
ETF fees differ structurally from managed funds and are typically lower because ETFs track indexes passively, whereas active managers incur research and stock-selection costs. Castle Point Trans-Tasman Fund is an active managed fund (not an ETF) with an annual fund charge of 1.08% p.a. To compare fees across ETFs and managed funds in different asset classes, use the FMA Disclose register.
What is the best stock to invest in in NZ?
Individual stock selection is a matter of personal investment strategy and risk tolerance, not a factual question we can answer. Castle Point Trans-Tasman Fund's top holdings as at the latest QFU include Fisher & Paykel Healthcare Ltd (16.03%), Infratil Ltd (9.92%), and Auckland International Airport Ltd (9.71%); for the full portfolio and the fund manager's investment rationale, see the latest Product Disclosure Statement at https://castlepoint.co.nz.