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
0.26%
vs peer avg 0.65%
Risk indicator
1/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 1.17%
Fund size
NZ$125.2m
0% growth · 100% income
The Fund will invest, either directly or through other managed funds, in a well- diversified portfolio of cash and cash equivalents and New Zealand fixed interest securities, including an allocation to yield enhancing assets such as mortgage-backed securities and credit funds. The Fund aims to provide investors with regular income in excess of bank deposits whilst preserving capital value.
Key facts
Fund start date
11 June 2024
Min. investment
NZ$10,000
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 5 other cash 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
0.26%
Category median: 0.26%
Cheaper than 50% of peers
Fund size
NZ$125.2m
Category median: NZ$13.3m
Top 10% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$129
Compounded charge over 5 years (excl. returns)
$0 less than peer median
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 5 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| AW Amova W/S NZ Cash Fund | 78.40% |
| NF NZMS First Mortgage Securities Limited | 8.04% |
| $ NZD Cash at Bank | 5.44% |
| BT BCHINA Term Deposit 3.75% 20/08/2025 18/05/2026 | 4.09% |
| BT BCHINA Term Deposit 3.4% 04/12/2025 04/06/2026 | 4.04% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- ENHANCED CASH PIE (FND50928) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.85 KB
- Clarity PDS Document 2 April 26 FINAL.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.01 MB
- Enhanced Cash PIE 31 March 2026.pdf The quarterly update published by the provider PDF, 426.42 KB
- Enhanced Cash PIE PDS 2 Apr 26 FINAL.pdf Additional product disclosure statement from the provider PDF, 232.17 KB
- Clarity OMI Document 2 April 26 FINAL.pdf Other information related to the Clarity Funds, TAHITO and the Enhanced Cash PIE to supplement and be read in conjunction with, the Product Disclosure Stateme
- TAHITO PDS 13 May 26 Final.pdf Additional product disclosure statement from the provider PDF, 2.14 MB
- Combined SIP Os TAHITO 13 May 26 Clarity 02 Apr 26 Enhanced Cash PIE 02 Apr 26.pdf Statement of investment policy and objectives PDF, 3.09 MB
About this category
Funds holding bank deposits and short-term money-market instruments. Lowest-risk fund category; income-focused.
About Clarity
NZ-owned manager of the Clarity Funds Scheme — diversified, fixed-income, dividend-yield and Capital Group-partnered global strategies. Co-tenants the scheme with TAHITO.
See all funds from Clarity →Head-to-head
Compare Clarity Enhanced Cash PIE with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Cash 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/clarity/enhanced-cash/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/clarity/enhanced-cash/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/clarity/enhanced-cash/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 Clarity Enhanced Cash PIE?
Clarity Enhanced Cash PIE is managed by Clarity. NZ-owned manager of the Clarity Funds Scheme — diversified, fixed-income, dividend-yield and Capital Group-partnered global strategies. Co-tenants the scheme with TAHITO.
What asset class is the Clarity Enhanced Cash PIE?
It is a cash managed fund. The fund has a conservative risk profile. Funds holding bank deposits and short-term money-market instruments. Lowest-risk fund category; income-focused.
What are the fees for the Clarity Enhanced Cash PIE?
The annual fund charge for the Clarity Enhanced Cash PIE is 0.26% 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 Clarity Enhanced Cash PIE?
The risk indicator is 1/7 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 Clarity Enhanced Cash PIE a PIE fund?
Yes. The Clarity Enhanced Cash PIE 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 Clarity Enhanced Cash PIE?
Fund size (assets under management) is NZ$125 million as at the latest Quarterly Fund Update. Asset mix is approximately 0% growth assets and 100% income assets.
What does the Clarity Enhanced Cash PIE invest in?
The latest published top holdings are: Amova W/S NZ Cash Fund (78.40%), NZMS First Mortgage Securities Limited (8.04%), NZD Cash at Bank (5.44%). 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 Clarity Enhanced Cash PIE?
The Clarity Enhanced Cash PIE is available via InvestNow, Clarity directly. Always read the current Product Disclosure Statement before investing.