Harbour Balanced Fund is a diversified managed fund operated by Harbour; PIE-structured; FMA risk indicator 4/7. Headline terms: annual fund charge 0.93%. Compared with 67 other same-category funds on this site, the 0.93% annual fund charge sits below the same-category median of 0.99%.
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 ourPIR guideandPIE tax basicsfor the full picture, or use thePIR calculatorto confirm your rate.
Annual fund charge
0.93%
vs peer avg 1.12%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.92%
Fund size
NZ$2.1m
78% growth · 22% income
The Fund is designed to provide investors with exposure to a wide range of domestic and global assets. The Fund invests approximately 60% in growth assets such as shares, property and infrastructure and approximately 40% into more defensive assets, predominantly investment grade bonds. The Manager will use active management to enhance returns and manage downside risks.
How Harbour Balanced Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Top 3 holdings
- TPG Private Equity Opportunities Fund (2.5%) · GD1 Fund 3 L.P. (Partnership) (2.2%) · Icehouse IVX Investment (2.2%)
Key facts
Fund start date
21 November 2025
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 68 other diversified 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
0.93%
Category median: 0.99%
Cheaper than 60% of peers
Fund size
NZ$2.1m
Category median: NZ$57.9m
4th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$456
Compounded charge over 5 years (excl. returns)
$29 less 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 |
|---|---|
TPTPG Private Equity Opportunities Fund | 2.46% |
GFGD1 Fund 3 L.P. (Partnership) | 2.18% |
 Icehouse IVX Investment | 2.17% |
 NVIDIA Corp | 1.92% |
NZNZ Government Stock 15/05/2028 0.25 | 1.78% |
 Apple Inc | 1.70% |
RPRevolution Private Debt Fund (NZD) PIE | 1.29% |
NZNZ Government Stock 20/04/2029 3.00 | 1.24% |
 Fisher & Paykel Healthcare | 1.22% |
 Infratil | 1.18% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- HARBOUR BALANCED FUND (FND60411) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 220.29 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 Balanced Fund June 2026.pdf The quarterly update published by the provider PDF, 627.32 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 Fund PDS Global Funds 18 May 2026.pdf Additional product disclosure statement from the provider PDF, 1,015.88 KB
- Harbour Investment Funds Other Material Information 18 May 2026.pdf Other Material Document PDF, 433.01 KB
- Harbour Investment Funds PDS 2 June 2026 Australasian Equities and Fixed Interest Funds.pdf Additional product disclosure statement from the provider PDF, 1.26 MB
- Harbour ESG Policy 31 August 2026.pdf Harbour - Environmental, Social and Governance Policy PDF, 740.49 KB
- Harbour Investment Funds Statement of Investment Policy and Objectives 18 June 2026.pdf Statement of investment policy and objectives PDF, 810.04 KB
About this category
Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
About Harbour
Active equity, fixed income and multi-asset manager with a sustainability-aware overlay.
See all funds from Harbour →Head-to-head
Compare Harbour Balanced Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified 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 (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.
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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 Balanced Fund?
Harbour Balanced Fund is managed by Harbour. Active equity, fixed income and multi-asset manager with a sustainability-aware overlay.
What asset class is the Harbour Balanced Fund?
It is a diversified managed fund. The fund has a balanced risk profile. Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
What are the fees for the Harbour Balanced Fund?
The annual fund charge for the Harbour Balanced Fund is 0.93% 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 Balanced 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 Harbour Balanced Fund a PIE fund?
Yes. The Harbour Balanced 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 Balanced Fund?
Fund size (assets under management) is NZ$2 million as at the latest Quarterly Fund Update. Asset mix is approximately 78% growth assets and 22% income assets.
What does the Harbour Balanced Fund invest in?
The latest published top holdings are: TPG Private Equity Opportunities Fund (2.46%), GD1 Fund 3 L.P. (Partnership) (2.18%), Icehouse IVX Investment (2.17%). 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 Balanced Fund?
The Harbour Balanced Fund is available via Harbour directly. Always read the current Product Disclosure Statement before investing.