Pathfinder Ethical Trans-Tasman Fund
Managed by Pathfinder Pathfinder Ethical Trans-Tasman Fund is a australasian equities managed fund operated by Pathfinder; PIE-structured; FMA risk indicator 4/7. Headline terms: annual fund charge 1.00% · minimum investment NZ$5,000 · distributions no distributions (accumulating). Compared with 57 other same-category funds on this site, the 1.00% annual fund charge sits in line with the same-category median of 1.02%.
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
1.00%
vs peer avg 0.91%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
0.45%
peer avg 4.91%
Fund size
NZ$12.4m
98% growth · 2% income
Ethical investing in Australian and New Zealand equities, listed property companies and other assets to achieve above average long-term risk adjusted returns.
Benchmark track record
Compare Australasian Equities consistency →How Pathfinder Ethical Trans-Tasman 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 1 of 4 years
annual returns to 31 March 2026Since inception: 8.75% p.a. after fees & tax vs benchmark 1.71%.
How Pathfinder Ethical Trans-Tasman Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Responsible-investment screen
- Excludes Industries or activities that create significant harm or transgress filters of respecting people, planet and animals; Activities breaching exclusions defined in the Ethical Investment Policy by industry classification and revenue threshold.
- Top 3 holdings
- Fisher & Paykel Healthcare Ltd (9.4%) · Infratil Ltd (5.0%) · National Australia Bank Ltd (4.7%)
Key facts
Fund start date
18 September 2019
Min. investment
NZ$5,000
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 | 3% | 0% | 100% |
| NZ Fixed Interest | 0% | 0% | 20% |
| International Fixed Interest | 0% | 0% | 20% |
| Australasian Equities | 92% | 0% | 100% |
| International Equities | 0% | 0% | 30% |
| Listed Property | 5% | 0% | 30% |
| Other Assets | 0% | 0% | 10% |
Responsible-investment approach
Ethical investing is used as a primary filter for all investments across all funds. This includes negative screening (exclusions based on harm to people, planet and animals), positive screening (ESG scores, positive investment themes such as Healthy Planet and Healthy Living), and good stewardship (active ownership, climate change transition support, UNPRI signatory commitments). An Ethical Investment Policy details exclusions, companies of concern, and an exceptions register.
Exclusions
- Industries or activities that create significant harm or transgress filters of respecting people, planet and animals
- Activities breaching exclusions defined in the Ethical Investment Policy by industry classification and revenue threshold
Derivatives policy
Derivative contracts may be used to manage market risk exposure to equities, foreign currencies, interest rates and other market investment risks, or to take an investment position. Derivatives can be futures, options or other instruments in any currency, whether listed on an exchange or over-the-counter. The protection overlay does not allow overall net short positions.
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.
- Pathfinder discloses that several of its retail funds invest solely or partially into wholesale funds managed by Pathfinder itself or sister company Salt Funds Management, creating a fund-of-fund related-party structure.
- Pathfinder acknowledges that Helm Wealth Advisory Limited, a sister company, is appointed to fulfil all management obligations of the Scheme on Pathfinder's behalf, meaning a related party delivers core operational services.
- Pathfinder discloses that the Scheme may invest in private loans issued by shareholder affiliates of Pathfinder, with approval required from the Ethics and Investment Committee and reporting to the board.
- Pathfinder acknowledges that staff and senior executives of parent company SPH Wealth Holdings Limited may personally trade securities also held or considered by the Scheme's funds, governed by its Insider Trading Policy.
Generated 2026-05-28 from Pathfinder Managed Investment Scheme OMI (dated 2026-03-30). 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
Public Trust
Conflicts disclosed
5
In OMI
Conflicts of interest disclosed in OMI
- Investments are made into funds or financial products of a related party (e.g. financial products managed or arranged by Pathfinder, Helm Wealth or Salt Funds Management Limited, our sister companies, or associated companies), managed via Pathfinder's Related Party Transaction Policy.
- Investments that are bought, sold or held by Pathfinder's KiwiSaver Plan may also be bought, sold or held by a Fund in the Scheme, managed by Pathfinder's Trade Allocation Policy.
- Pathfinder and Helm Wealth staff, including senior executives from parent company SPH Wealth Holdings Limited, may want to buy, sell or hold a security personally that is also held or considered by a Fund, managed by Pathfinder's Insider Trading Policy.
- Investments are made into companies where a director is also a person associated with Pathfinder, managed via Pathfinder's Related Party Transaction Policy.
- Pathfinder and its shareholder's executives may hold governance positions with one or more of the organisations that Pathfinder financially supports.
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
1.00%
Category median: 1.01%
Cheaper than 51% of peers
5y return p.a. (after fees)
+0.45%
Category median: +1.68%
Below peer median (30th percentile)
Fund size
NZ$12.4m
Category median: NZ$74.1m
11th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$490
Compounded charge over 5 years (excl. returns)
$5 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 |
|---|---|
 Fisher & Paykel Healthcare Ltd | 9.40% |
 Infratil Ltd | 4.97% |
 National Australia Bank Ltd | 4.67% |
 Auckland International Airport Ltd | 4.60% |
 Ebos Group | 4.01% |
 Contact Energy Ltd | 3.87% |
 Westpac Banking Corp | 3.87% |
 CSL Limited | 3.25% |
| WO Woolworths Ltd | 3.03% |
 Freightways Group Ltd | 2.58% |
Documents
- Supporting document490 kB · file fingerprint recorded
- Supporting document5160 kB · file fingerprint recorded
- Supporting document6356 kB · file fingerprint recorded
- Supporting document11086 kB · file fingerprint recorded
- Supporting document13994 kB · file fingerprint recorded
- Supporting document11709 kB · file fingerprint recorded
- Other Material Information719 kB · file fingerprint recorded
- Product Disclosure Statement594 kB · file fingerprint recorded
- Statement of Investment Policy884 kB · file fingerprint recorded
- Supporting document157 kB · file fingerprint recorded
- Supporting document1063 kB · file fingerprint recorded
- Supporting document408 kB · file fingerprint recorded
- Supporting document407 kB · file fingerprint recorded
- Supporting document1676 kB · file fingerprint recorded
- Supporting document429 kB · file fingerprint recorded
Also via Sorted Smart Investor
FMA Disclose mirrors and historical files from Sorted.
- PATHFINDER ETHICAL TRANS-TASMAN FUND (FND19393) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 10.16 KB
- Pathfinder Managed Funds PDS 2026 Final.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 594.18 KB
- Pathfinder Ethical Trans Tasman Fund Quarterly Report 2603.pdf The quarterly update published by the provider PDF, 880.79 KB
- Pathfinder PDS Ethical Growth Fund Aug 2020.pdf Additional product disclosure statement from the provider PDF, 1.75 MB
- FMC Exemption Notice 2020.pdf FMC Exemption Notice-Financial Statement and Annual Report PDF, 110.17 KB
- Pathfinder OMI MIS 202603.pdf Other Material Information document March 2026 PDF, 719.00 KB
- Private Asset Valuation Policy FINAL Dec 25.pdf Private Asset Valuation Policy PDF, 1.58 MB
- Pathfinder Ethical Investment Policy V 5.pdf Ethical Investment Policy PDF, 1.60 MB
- Pathfinder Managed Funds SIPO.pdf Statement of investment policy and objectives PDF, 884.27 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 Pathfinder
Ethical-investment specialist with global responsibility, water and trans-Tasman funds.
See all funds from Pathfinder →Common questions
Questions people ask about Pathfinder Ethical Trans-Tasman 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 are the pros and cons of a Pathfinder?
Pathfinder Ethical Trans-Tasman Fund applies responsible-investment and ESG screens as part of its investment approach, and is structured as a PIE with investor tax capped at your prescribed investor rate (maximum 28%). The fund's annual charge of 1% p.a. is marginally higher than the peer-cohort average of 0.95% p.a., and the 5-year return after fees before tax was 1.73% p.a. as at the latest FMA Disclose data—you should review the current Product Disclosure Statement and FMA Disclose register for the full risk and return profile.
Is Pathfinder a good KiwiSaver?
Pathfinder Asset Management does not operate a KiwiSaver scheme—this fund is a managed fund available via InvestNow or directly from Pathfinder, not a KiwiSaver product. If you are comparing KiwiSaver providers, you should consult the KiwiSaver scheme product disclosure statements and FMC resources separately.
What are the best performing ethical funds?
Ethical funds' past performance varies by category and timeframe. For Australasian Equities funds with responsible-investment screens, you can compare returns after fees before tax, annual charges, and risk indicators on our fund comparison tool or via the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/. Pathfinder Ethical Trans-Tasman Fund recorded 1.73% p.a. over five years after fees before tax as at the latest QFU.
Head-to-head
Compare Pathfinder Ethical Trans-Tasman Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities funds
Same manager
Other funds by Pathfinder
- Pathfinder Ethical Growth FundDiversified
- Pathfinder Global Responsibility FundInternational Equities
- Pathfinder Global Water 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 →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 Pathfinder Ethical Trans-Tasman Fund?
Pathfinder Ethical Trans-Tasman Fund is managed by Pathfinder. Ethical-investment specialist with global responsibility, water and trans-Tasman funds.
What asset class is the Pathfinder Ethical Trans-Tasman 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 Pathfinder Ethical Trans-Tasman Fund?
The annual fund charge for the Pathfinder Ethical Trans-Tasman Fund is 1.00% 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 Pathfinder Ethical Trans-Tasman 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 Pathfinder Ethical Trans-Tasman Fund a PIE fund?
Yes. The Pathfinder Ethical Trans-Tasman 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 Pathfinder Ethical Trans-Tasman Fund?
Fund size (assets under management) is NZ$12 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Pathfinder Ethical Trans-Tasman Fund invest in?
The latest published top holdings are: Fisher & Paykel Healthcare Ltd (9.40%), Infratil Ltd (4.97%), National Australia Bank Ltd (4.67%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
Does the Pathfinder Ethical Trans-Tasman Fund apply responsible-investment screens?
Yes. The Pathfinder Ethical Trans-Tasman Fund applies responsible-investment or ESG screening criteria — exclusions and engagement policies are documented in the fund's Statement of Investment Policy and Objectives (SIPO). Check the SIPO for the specific screening framework used.
How can I invest in the Pathfinder Ethical Trans-Tasman Fund?
The Pathfinder Ethical Trans-Tasman Fund is available via Pathfinder directly. Always read the current Product Disclosure Statement before investing.
What are the pros and cons of a Pathfinder?
Pathfinder Ethical Trans-Tasman Fund applies responsible-investment and ESG screens as part of its investment approach, and is structured as a PIE with investor tax capped at your prescribed investor rate (maximum 28%). The fund's annual charge of 1% p.a. is marginally higher than the peer-cohort average of 0.95% p.a., and the 5-year return after fees before tax was 1.73% p.a. as at the latest FMA Disclose data—you should review the current Product Disclosure Statement and FMA Disclose register for the full risk and return profile.
Is Pathfinder a good KiwiSaver?
Pathfinder Asset Management does not operate a KiwiSaver scheme—this fund is a managed fund available via InvestNow or directly from Pathfinder, not a KiwiSaver product. If you are comparing KiwiSaver providers, you should consult the KiwiSaver scheme product disclosure statements and FMC resources separately.
What are the best performing ethical funds?
Ethical funds' past performance varies by category and timeframe. For Australasian Equities funds with responsible-investment screens, you can compare returns after fees before tax, annual charges, and risk indicators on our fund comparison tool or via the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/. Pathfinder Ethical Trans-Tasman Fund recorded 1.73% p.a. over five years after fees before tax as at the latest QFU.