Clarity Trans-Tasman Value Fund
Managed by Clarity Clarity Trans-Tasman Value Fund is a australasian equities managed fund operated by Clarity; PIE-structured; FMA risk indicator 4/7. Headline terms: annual fund charge 1.06% · minimum investment NZ$10,000 · distributions quarterly. Compared with 57 other same-category funds on this site, the 1.06% 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
1.06%
vs peer avg 0.91%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
5.78%
peer avg 4.91%
Fund size
NZ$132.6m
98% growth · 2% income
To provide actively managed exposure to New Zealand and Australian equities. The Fund aims to generate a better return than the benchmark over the medium to long term. We intend for the Fund to make quarterly income distributions.
Benchmark track record
Compare Australasian Equities consistency →How Clarity Trans-Tasman Value 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.
Growth of NZ$10,000
2013–2026, after fees & taxA notional NZ$10,000 compounded by each year's disclosed net return — a track-record trajectory from the FMA fund-update data, not a live unit price. Past performance is not a guide to the future.
NZ$10,000 → NZ$26,612 · to 31 March 2026
Beat its benchmark in 6 of 11 years
annual returns to 31 March 2026Since inception: 8.29% p.a. after fees & tax vs benchmark 10.49%.
How Clarity Trans-Tasman Value Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- 50% S&P/NZX 50 Portfolio Index Gross with Imputation and 50% S&P/ASX 200 Accumulation Index in NZ dollars
- Top 3 holdings
- BHP Group Ltd (6.9%) · ANZ Group Holdings Ltd (6.3%) · National Australia Bank Ltd (4.1%)
Key facts
Fund start date
2 November 2007
Min. investment
NZ$10,000
Subsequent: NZ$1,000
Distributions
Quarterly
Tax structure
PIE
Capped at your PIR (max 28%)
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.
- Clarity acknowledges that its parent company, ISG, provides administration, IT, legal, and other operational services to the Funds and is paid a portion of the total fund charge collected from investors.
- Clarity acknowledges that Devon Funds Management Limited manages three funds (Dividend Yield, Trans-Tasman Value, and New Zealand Equity) under an outsourced arrangement and also receives a portion of the total fund charge.
- Clarity discloses that directors, employees, and associated persons may personally invest in the Funds, which could create a conflict between their personal interests and those of other investors.
- Clarity states it will not enter related-party transactions except where agreed with the Supervisor and permitted under the FMC Act, but no performance-fee mechanic or fee rebate arrangement is disclosed in this document.
Generated 2026-05-28 from Clarity Funds Scheme OMI (dated 2026-04-01). 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
New Zealand Guardian Trust Company Limited
Auditor
PwC Auckland
Custodian
BNP Paribas Fund Services Australasia Pty Limited (nominated by Guardian Trust, which retains primary responsibility)
Conflicts disclosed
4
In OMI
Conflicts of interest disclosed in OMI
- Directors, employees and other associated persons of Clarity may choose to invest in the Funds.
- ISG, as parent of Clarity, provides investment administration and investment operation services to the Funds and receives a portion of the total fund charge, creating a related-party conflict.
- Devon Funds Management Limited provides investment management services to the Trans-Tasman Value Fund, Dividend Yield Fund and New Zealand Equity Fund and receives a portion of the total fund charge, creating a related-party conflict.
- Clarity will not enter into transactions with related parties who may benefit from those arrangements, except as agreed with the Supervisor and as permitted under the provisions of the FMC Act.
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
1.06%
Category median: 1.01%
Mid-pack — cheaper than 41% of peers
5y return p.a. (after fees)
+5.78%
Category median: +1.68%
Above peer median (72th percentile)
Fund size
NZ$132.6m
Category median: NZ$74.1m
65th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$519
Compounded charge over 5 years (excl. returns)
$24 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 |
|---|---|
 BHP Group Ltd | 6.89% |
 ANZ Group Holdings Ltd | 6.32% |
 National Australia Bank Ltd | 4.11% |
 Meridian Energy Limited | 3.74% |
 Infratil Ltd | 3.32% |
 Mercury NZ Limited | 3.18% |
 Ebos Group Ltd | 3.05% |
 A2 Milk Company Ltd | 2.96% |
 Genesis Energy Ltd | 2.46% |
| TO Tower Ltd | 2.44% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CLARITY TRANS-TASMAN VALUE FUND (FND901) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 2.03 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
- Clarity Trans Tasman Value Fund 31 March 2026.pdf The quarterly update published by the provider PDF, 345.54 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 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 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 Trans-Tasman Value Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities funds
Same manager
Other funds by Clarity
- Clarity Fixed Income FundInternational FI
- Clarity Global Shares FundInternational Equities
- Clarity - Capital Group New Perspective FundInternational Equities
FMA risk band
Same risk band (4/7)
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 4 funds →Explore this with AI
Open a fresh AI chat pre-loaded with this page — ask it to summarise, explain, or compare, and it can read ManagedFundsNZ's underlying data directly.
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/trans-tasman-value/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/clarity/trans-tasman-value/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/clarity/trans-tasman-value/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 Trans-Tasman Value Fund?
Clarity Trans-Tasman Value Fund 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 Trans-Tasman Value Fund?
It is a australasian equities managed fund. The fund has a growth risk profile. 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 Clarity Trans-Tasman Value Fund?
The annual fund charge for the Clarity Trans-Tasman Value Fund is 1.06% 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 Trans-Tasman Value Fund?
The risk indicator is 4/7 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 Trans-Tasman Value Fund a PIE fund?
Yes. The Clarity Trans-Tasman Value 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 Clarity Trans-Tasman Value Fund?
Fund size (assets under management) is NZ$133 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Clarity Trans-Tasman Value Fund invest in?
The latest published top holdings are: BHP Group Ltd (6.89%), ANZ Group Holdings Ltd (6.32%), National Australia Bank Ltd (4.11%). 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 Trans-Tasman Value Fund?
The Clarity Trans-Tasman Value Fund is available via Clarity directly. Always read the current Product Disclosure Statement before investing.