Harbour Enhanced Cash Fund is a cash managed fund operated by Harbour; PIE-structured; FMA risk indicator 2/7. Headline terms: annual fund charge 0.26%. Compared with 5 other same-category funds on this site, the 0.26% annual fund charge sits in line with the same-category median of 0.26%.
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
0.26%
vs peer avg 0.66%
Risk indicator
2/7
1 = lower risk · 7 = higher risk
5-year return p.a.
2.79%
peer avg 1.39%
Fund size
NZ$259.8m
0% growth · 100% income
The Harbour Enhanced Cash Fund is an actively managed portfolio that holds liquid money market securities, NZ Government Stock, corporate bonds and bank deposits, all denominated in New Zealand Dollars. The Fund is designed to earn a premium over 90 day bank bills, while aiming to avoid the volatility of traditional fixed interest funds. The maximum permitted duration of the Fund is 2 years. The Fund maintains a core holding of highly liquid securities in order to minimise transaction costs and facilitate investor cash flow requirements at short notice. The Fund a
How Harbour Enhanced Cash Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Top 3 holdings
- NZ Government Stock 15/05/2028 0.25% (13.3%) · Kiwibank Limited 05/10/2026 2.635% (5.3%) · ASB Bank Limited 16/11/2026 5.928% (5.1%)
Key facts
Fund start date
1 August 2019
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 6 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
5y return p.a. (after fees)
+2.79%
Category median: +2.60%
Higher than 75% of peers
Fund size
NZ$259.8m
Category median: NZ$52.4m
Top 8% 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
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 |
|---|---|
NZNZ Government Stock 15/05/2028 0.25% | 13.30% |
 Kiwibank Limited 05/10/2026 2.635% | 5.32% |
 ASB Bank Limited 16/11/2026 5.928% | 5.10% |
 Bank of New Zealand 08/06/2026 1.884% | 3.51% |
 Westpac Bank Deposit AC 3.015% 17/08/2026 | 3.30% |
| Bank of New Zealand 07/06/2027 4.985% | 3.25% |
RNRabobank NZ Limited 05/04/2027 FRN | 3.08% |
 MUFG Bank Limited 24/11/2026 FRN | 3.07% |
| Bank of New Zealand 01/09/2028 5.872% | 2.70% |
| Westpac Bank Deposit AC 3.162% 2/04/2026 | 2.67% |
Documents
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Supporting document
- Quarterly Fund Update
- Other Material Information
- Statement of Investment Policy
- Product Disclosure Statement
- Product Disclosure Statement
- Product Disclosure Statement
Also via Sorted Smart Investor
FMA Disclose mirrors and historical files from Sorted.
- HARBOUR ENHANCED CASH FUND (FND15505) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 3.36 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 Enhanced Cash Fund June 2026.pdf The quarterly update published by the provider PDF, 204.81 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
Funds holding bank deposits and short-term money-market instruments. Lowest-risk fund category; income-focused.
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 Enhanced Cash Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Cash 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 (2/7)
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 Enhanced Cash Fund?
Harbour Enhanced Cash Fund is managed by Harbour. Active equity, fixed income and multi-asset manager with a sustainability-aware overlay.
What asset class is the Harbour Enhanced Cash Fund?
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 Harbour Enhanced Cash Fund?
The annual fund charge for the Harbour Enhanced Cash Fund 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 Harbour Enhanced Cash Fund?
The risk indicator is 2/7 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 Enhanced Cash Fund a PIE fund?
Yes. The Harbour Enhanced Cash 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 Enhanced Cash Fund?
Fund size (assets under management) is NZ$260 million as at the latest Quarterly Fund Update. Asset mix is approximately 0% growth assets and 100% income assets.
What does the Harbour Enhanced Cash Fund invest in?
The latest published top holdings are: NZ Government Stock 15/05/2028 0.25 (14.37%), ANZ NZD Cash (9.11%), Kiwibank Limited 05/10/2026 2.635 (4.70%). 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 Enhanced Cash Fund?
The Harbour Enhanced Cash Fund is available via Harbour directly. Always read the current Product Disclosure Statement before investing.