Elevation Capital Global Shares Fund
Managed by Elevation Capital Elevation Capital Global Shares Fund is a international equities managed fund operated by Elevation Capital; PIE-structured; FMA risk indicator 6/7. Headline terms: annual fund charge 1.97% · minimum investment NZ$5,000 · distributions annually. Compared with 80 other same-category funds on this site, the 1.97% annual fund charge sits above the same-category median of 0.60%.
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
1.80%
vs peer avg 1.29%
Risk indicator
6/7
1 = lower risk · 7 = higher risk
5-year return p.a.
3.40%
peer avg 4.31%
Fund size
NZ$23.1m
78% growth · 22% income
The principal objective of the Fund is to achieve positive absolute returns after fees and expenses but before tax over the long term (that is a period of at least five years). We seek to achieve this objective by providing investors with long-term income and capital growth by directly investing in shares (equity securities) on a global basis.
Benchmark track record
Compare International Equities consistency →How Elevation Capital Global Shares 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 5 of 10 years
annual returns to 30/06/2022Since inception: 9.29% p.a. after fees & tax vs benchmark 10.15%.
How Elevation Capital Global Shares Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Top 3 holdings
- Rakon Ltd (8.6%) · Alphabet Inc Class A (3.8%) · Adobe Systems Inc (3.7%)
- Currency policy
- The Fund may seek to hedge any single foreign currency exposure at the Manager's discretion; as at the date of the SIPO the Manager has never executed a foreign exchange hedge contract.
Key facts
Fund start date
9 December 2008
Min. investment
NZ$5,000
Subsequent: NZ$100
Distributions
Annually
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 |
|---|---|---|---|
| Unlisted shares (total exposure) | — | 0% | 10% |
| Any single listed equity security | — | — | 5% |
| Any single unlisted equity security | — | — | 5% |
Exclusions
- Short-selling
- Leverage / borrowing
- Options and futures contracts (other than FX hedging instruments)
Derivatives policy
The Fund will not utilise options or futures contracts (derivatives), excluding foreign currency forward contracts and currency options used solely for hedging purposes. The Fund will not undertake short-selling.
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.
- The Curve Fund targets positive absolute returns after fees over a minimum five-year horizon, with an annual fund charge of 1.97% and a risk indicator of 6 out of 7 (the second-highest risk category).
- The Curve Investments Limited has not disclosed any conflicts of interest, related-party transactions, or performance-fee mechanics in the information provided for this fund.
Generated 2026-05-29 from The Curve Fund PDS (dated 2026-05-07). 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 81 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.
Annual fund charge
1.80%
Category median: 0.61%
Pricier than most peers (top 94% by fee)
5y return p.a. (after fees)
+3.40%
Category median: +8.31%
Lower than most peers (bottom 15% over period)
Fund size
NZ$23.1m
Category median: NZ$95.7m
20th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$868
Compounded charge over 5 years (excl. returns)
$567 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 |
|---|---|
| RA Rakon Ltd | 8.59% |
 Alphabet Inc Class A | 3.82% |
| AS Adobe Systems Inc | 3.69% |
| PS PUIG SM Equity | 3.69% |
| TS The Swatch Group AG | 3.28% |
| LO L'Oreal SA - Loyalty 2027 | 3.05% |
| RC Remy Cointreau | 2.85% |
| HI Hermes International | 2.81% |
| KE Kering | 2.80% |
| DI Diageo Plc | 2.79% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- ELEVATION CAPITAL GLOBAL SHARES FUND (FND3120) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.04 KB
- The Curve Fund PDS.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 631.65 KB
- Elevation Capital Global Shares Fund Fund Update 31 March 2026.pdf The quarterly update published by the provider PDF, 453.41 KB
- The Curve Fund SIPO.pdf Statement of investment policy and objectives PDF, 253.58 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 Elevation Capital
Concentrated value-style global equity manager.
See all funds from Elevation Capital →Common questions
Questions people ask about Elevation Capital Global Shares 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 Elevation Capital a global fund?
Elevation Capital Global Shares Fund is classified as an International Equities fund with an asset mix of approximately 78.34% growth assets and 21.66% income assets. The fund's top holdings include both US-listed companies (Alphabet Inc Class A, Adobe Systems Inc) and NZ-listed companies (Rakon Ltd), reflecting a globally diversified approach.
What is the performance of the Elevation Capital fund?
As at the latest QFU, the Elevation Capital Global Shares Fund returned 3.4% per annum after fees and before tax over the past 5 years. For current performance data and monthly returns, refer to the fund's entry on FMA Disclose at https://disclose-register.companiesoffice.govt.nz/
Which companies are funded by elevation capital?
The Elevation Capital Global Shares Fund holds investments in a range of listed companies; as at the latest QFU, the top three holdings were Rakon Ltd (8.59%), Alphabet Inc Class A (3.82%), and Adobe Systems Inc (3.69%). A complete holdings list is available via the manager's website at https://www.elevationcapital.co.nz
Head-to-head
Compare Elevation Capital Global Shares 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 (6/7)
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 6 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/elevation-capital/global-shares/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/elevation-capital/global-shares/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/elevation-capital/global-shares/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 Elevation Capital Global Shares Fund?
Elevation Capital Global Shares Fund is managed by Elevation Capital. Concentrated value-style global equity manager.
What asset class is the Elevation Capital Global Shares Fund?
It is a international equities managed fund. 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 Elevation Capital Global Shares Fund?
The annual fund charge for the Elevation Capital Global Shares Fund is 1.80% 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 Elevation Capital Global Shares Fund?
The risk indicator is 6/7 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 Elevation Capital Global Shares Fund a PIE fund?
Yes. The Elevation Capital Global Shares 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 Elevation Capital Global Shares Fund?
Fund size (assets under management) is NZ$23 million as at the latest Quarterly Fund Update. Asset mix is approximately 78% growth assets and 22% income assets.
What does the Elevation Capital Global Shares Fund invest in?
The latest published top holdings are: Rakon Ltd (8.59%), Alphabet Inc Class A (3.82%), Adobe Systems Inc (3.69%). 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 Elevation Capital Global Shares Fund?
The Elevation Capital Global Shares Fund is available via Elevation Capital directly. Always read the current Product Disclosure Statement before investing.
Is Elevation Capital a global fund?
Elevation Capital Global Shares Fund is classified as an International Equities fund with an asset mix of approximately 78.34% growth assets and 21.66% income assets. The fund's top holdings include both US-listed companies (Alphabet Inc Class A, Adobe Systems Inc) and NZ-listed companies (Rakon Ltd), reflecting a globally diversified approach.
What is the performance of the Elevation Capital fund?
As at the latest QFU, the Elevation Capital Global Shares Fund returned 3.4% per annum after fees and before tax over the past 5 years. For current performance data and monthly returns, refer to the fund's entry on FMA Disclose at https://disclose-register.companiesoffice.govt.nz/
Which companies are funded by elevation capital?
The Elevation Capital Global Shares Fund holds investments in a range of listed companies; as at the latest QFU, the top three holdings were Rakon Ltd (8.59%), Alphabet Inc Class A (3.82%), and Adobe Systems Inc (3.69%). A complete holdings list is available via the manager's website at https://www.elevationcapital.co.nz