Harbour Australasian Equity Fund
Managed by Harbour Harbour Australasian Equity Fund is a australasian equities managed fund operated by Harbour; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 1.07% · distributions no distributions (accumulating). Compared with 57 other same-category funds on this site, the 1.07% 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
1.12%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
0.83%
peer avg 4.91%
Fund size
NZ$101.2m
98% growth · 2% income
To achieve a gross return of 5.0% per annum above the benchmark over the long term. The Fund provides actively managed exposure to New Zealand and Australian equities with a growth-oriented active investment management approach to generate alpha for investors.
Benchmark track record
Compare Australasian Equities consistency →How Harbour Australasian Equity 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 6 of 11 years
annual returns to 31 March 2026Since inception: 12.73% p.a. after fees & tax vs benchmark 13.53%.
How Harbour Australasian Equity Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- S&P/NZX 50 Index gross including imputation credits
- Top 3 holdings
- Fisher & Paykel Healthcare (16.2%) · Infratil (10.5%) · a2 Milk Company (8.3%)
Key facts
Fund start date
11 April 2010
Distributions
No distributions (accumulating)
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% |
Responsible-investment approach
Harbour integrates ESG factors directly into portfolio analysis using its proprietary Corporate Behaviour Survey, augmented by external ESG specialists and broker research. For most directly managed Funds, companies that do not meet a baseline standard of responsible behaviour are excluded. Active ownership through company engagement and proxy voting is also undertaken. Fund-specific exclusions (e.g. large carbon emitters, gambling, firearms, human/animal rights violations) apply to certain Funds as outlined in Harbour's ESG Policy.
Exclusions
- Companies not meeting Harbour's baseline responsible behaviour standard (per ESG Policy zero tolerance exclusions)
Derivatives policy
The use of derivatives is governed by the Harbour Derivative Risk Statement (DRS), which covers permitted uses, controls and compliance processes. Derivatives are not to be considered in isolation but as part of the overall investment strategy; leveraged instruments must not result in effective exposure exceeding the maximum permitted asset allocation range, and all derivative positions must be measured on a delta-adjusted basis.
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.
- Harbour acknowledges that FirstCape Group directors and employees may invest in Harbour funds, creating a potential conflict where their personal holdings could influence decisions made on behalf of fund investors.
- Harbour uses its 100% parent, FirstCape Group Limited, to provide staffing and banking services to the funds; Harbour states these arrangements are conducted on arms-length commercial terms.
- Retail funds invest into related Harbour Wholesale Funds, which charge an additional management fee; Harbour discloses this wholesale fee is fully rebated to the retail fund so investors are not charged twice.
- The Harbour Long Short Fund and Harbour Australasian Equity Focus Fund charge performance fees (15% and 10% respectively above their hurdle rates) with no annual reset, meaning a perpetual high-water mark must be exceeded before fees apply; the Long Short Fund has no cap on the fee amount.
Generated 2026-05-28 from Harbour Investment Funds OMI (dated 2026-05-14). 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
The New Zealand Guardian Trust Company Limited (Guardian Trust)
Auditor
PricewaterhouseCoopers
Custodian
Apex Investment Administration (NZ) Limited
Conflicts disclosed
4
In OMI
Conflicts of interest disclosed in OMI
- Directors and employees of FirstCape Group companies may invest in Harbour funds from time to time, and decisions made by directors or employees may be influenced by their investment in Harbour funds.
- Actual or perceived conflicts of interest for directors and employees of FirstCape Group companies can arise from any competing interests, and employees are required to disclose and register potential or actual conflicts of interest to FirstCape so that these can be effectively managed.
- Directors are required to disclose conflicts of interest at the beginning of each meeting, and these are recorded in the meeting minutes.
- Harbour may use related parties to provide services to the Funds, including staffing services and banking facilities and services, all conducted on arms' length commercial terms.
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
1.12%
Category median: 1.01%
Mid-pack — cheaper than 30% of peers
5y return p.a. (after fees)
+0.83%
Category median: +1.68%
Below peer median (36th percentile)
Fund size
NZ$101.2m
Category median: NZ$74.1m
54th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$548
Compounded charge over 5 years (excl. returns)
$53 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
| Holding | % of fund |
|---|---|
 Fisher & Paykel Healthcare | 16.23% |
 Infratil | 10.47% |
 a2 Milk Company | 8.25% |
 Mainfreight | 7.96% |
 Contact Energy | 7.44% |
 Auckland International Airport | 6.43% |
 Summerset Group | 4.87% |
 EBOS Group | 3.54% |
 Ryman Healthcare | 3.41% |
 Scales NZ | 2.52% |
Documents
- Supporting document7507 kB · file fingerprint recorded
- Supporting document2611 kB · file fingerprint recorded
- Supporting document3223 kB · file fingerprint recorded
- Supporting document2469 kB · file fingerprint recorded
- Supporting document8447 kB · file fingerprint recorded
- Supporting document4303 kB · file fingerprint recorded
- Supporting document4083 kB · file fingerprint recorded
- Supporting document4147 kB · file fingerprint recorded
- Supporting document3785 kB · file fingerprint recorded
- Quarterly Fund Update426 kB · file fingerprint recorded
- Other Material Information434 kB · file fingerprint recorded
- Statement of Investment Policy763 kB · file fingerprint recorded
- Product Disclosure Statement964 kB · file fingerprint recorded
- Product Disclosure Statement973 kB · file fingerprint recorded
- Product Disclosure Statement1288 kB · file fingerprint recorded
Also via Sorted Smart Investor
FMA Disclose mirrors and historical files from Sorted.
- HARBOUR AUSTRALASIAN EQUITY FUND (FND1421) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.39 KB
- Harbour Investment Funds PDS Diversified Funds.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 963.93 KB
- Fund Update Harbour Australasian Equity Fund Mar 2026.pdf The quarterly update published by the provider PDF, 205.97 KB
- T.Rowe Price Global Equity Growth Fund (RUT)2016.pdf T. Rowe Price Global Equity Fund financial statements 30 June 2016 PDF, 5.55 MB
- Harbour NZ Fixed Interest Funds (RUT)2016.pdf Retail Harbour Fixed Interest Funds Financial statements 30 June 2016 PDF, 6.77 MB
- Harbour Australasian Equity Funds (RUT)2016.pdf Retail Harbour Equity Funds Financial Statements 30 June 2016 PDF, 7.11 MB
- Harbour Investment Funds PDS Australasian Equities and Fixed Interest Funds.pdf Additional product disclosure statement from the provider PDF, 1.26 MB
- Harbour Investment Fund PDS Global Funds 18 May 2026.pdf Additional product disclosure statement from the provider PDF, 1,015.88 KB
- Harbour ESG Policy 18 May 2026.pdf Harbour - Environmental, Social and Governance Policy - 18 May 2026 PDF, 403.73 KB
- Harbour Investment Funds Other Material Information 18 May 2026.pdf Other Material Document PDF, 433.01 KB
- Harbour Investment Funds Statement of Investment Policy and Objectives 18 May 2026.pdf Statement of investment policy and objectives PDF, 793.94 KB
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 Harbour
Active equity, fixed income and multi-asset manager with a sustainability-aware overlay.
See all funds from Harbour →Common questions
Questions people ask about Harbour Australasian Equity 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.
What is a reasonable fee for a managed fund?
Fee reasonableness depends on the asset class and fund type. For Australasian equity funds, the peer-cohort average annual fund charge is 0.95% p.a.; Harbour Australasian Equity Fund charges 1.12% p.a. as at the latest QFU. Compare specific funds using the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ to assess fees against your investment objectives.
What is a typical management fee for a fund?
Management fees vary by asset class and fund structure. For Australasian equity funds tracked on this site, annual fund charges typically range around the peer-cohort average of 0.95% p.a., though individual funds vary. Check the latest Product Disclosure Statement (PDS) and FMA Disclose register for the specific fund you are considering.
Which index funds have no fees?
While some index funds have lower fees than actively managed funds, few charge zero fees—they typically cover administration and custody costs. For a comparison of fee levels across different fund types and structures, search the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ by asset class and fund strategy.
Head-to-head
Compare Harbour Australasian Equity Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities funds
Same manager
Other funds by Harbour
- Harbour NZ Index Shares FundAustralasian Equities
- Harbour NZ Corporate Bond FundNZ Fixed Interest
- Harbour T. Rowe Price Global Equity FundInternational Equities
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
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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 Harbour Australasian Equity Fund?
Harbour Australasian Equity Fund is managed by Harbour. Active equity, fixed income and multi-asset manager with a sustainability-aware overlay.
What asset class is the Harbour Australasian Equity 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 Harbour Australasian Equity Fund?
The annual fund charge for the Harbour Australasian Equity Fund is 1.12% 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 Harbour Australasian 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 Harbour Australasian Equity Fund a PIE fund?
Yes. The Harbour Australasian 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 Harbour Australasian Equity Fund?
Fund size (assets under management) is NZ$101 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Harbour Australasian Equity Fund invest in?
The latest published top holdings are: Fisher & Paykel Healthcare (16.23%), Infratil (10.47%), A2 Milk Company (8.25%). 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 Harbour Australasian Equity Fund?
The Harbour Australasian Equity Fund is available via Harbour directly. Always read the current Product Disclosure Statement before investing.
What is a reasonable fee for a managed fund?
Fee reasonableness depends on the asset class and fund type. For Australasian equity funds, the peer-cohort average annual fund charge is 0.95% p.a.; Harbour Australasian Equity Fund charges 1.12% p.a. as at the latest QFU. Compare specific funds using the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ to assess fees against your investment objectives.
What is a typical management fee for a fund?
Management fees vary by asset class and fund structure. For Australasian equity funds tracked on this site, annual fund charges typically range around the peer-cohort average of 0.95% p.a., though individual funds vary. Check the latest Product Disclosure Statement (PDS) and FMA Disclose register for the specific fund you are considering.
Which index funds have no fees?
While some index funds have lower fees than actively managed funds, few charge zero fees—they typically cover administration and custody costs. For a comparison of fee levels across different fund types and structures, search the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ by asset class and fund strategy.