# Pathfinder Global Water Fund > Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings. - **Manager:** Pathfinder (Pathfinder Asset Management Limited) - **Asset class:** International Equities - **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%) - **Responsible investment label:** yes (see SIPO for screening framework) - **Thematic fund:** yes - **Confidence tier:** C (Sorted Smart Investor → FMA Disclose) - **Last verified:** 2026-05-22 ## Summary The Pathfinder Global Water Fund is a international equities managed fund run by Pathfinder. Ethical-investment specialist with global responsibility, water and trans-Tasman funds. ## Fund data - **Annual fund charge:** 1.30% p.a. (from the latest Quarterly Fund Update) - **5-year return (after charges, after tax at 28% PIR):** 4.97% p.a. - **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk) - **Fund size (AUM):** NZ$64 million - **Asset mix:** 98% growth assets · 2% income assets - **Fund started:** 21 April 2010 - **Minimum initial investment:** NZ$5,000 ## Top 10 holdings 1. Veolia Environnement — 8.22% 2. Pentair Inc — 7.78% 3. Ebara Corp — 6.71% 4. CIA Saneamento Basico DE-ADR — 5.82% 5. Ferguson PLC — 5.04% 6. Organo Corp — 4.20% 7. Xylem Inc — 4.19% 8. Roper Industries Inc — 4.00% 9. Cash at Bank – NZD – Westpac — 3.91% 10. Waters Corp — 3.81% Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register. ## Scheme disclosures (from OMI) Scheme-level. The same disclosures apply to every fund in this scheme. - **Trustee / Supervisor:** Public Trust - **Conflicts of interest disclosed in OMI:** 5 ### Conflicts of interest (verbatim from 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. ### Related-party transactions - **Salt Funds Management Limited** (Sister company) — Appointed as investment manager of the Wholesale Ethical Trans-Tasman Fund in which the Ethical Trans-Tasman Fund and the Ethical Growth Fund invest. - **Helm Wealth Advisory Limited (formerly Alvarium Wealth (NZ) Limited)** (Sister company) — Appointed to provide services on behalf of Pathfinder to fulfill all obligations as the Manager of the Scheme. - **Pathfinder Asset Management Limited (manager)** (Manager — related party fund-of-fund structure) — The Global Responsibility Fund invests solely in the wholesale Responsible Investment Fund managed by Pathfinder. - **Salt Funds Management Limited and Pathfinder Asset Management Limited** (Sister company / manager) — The Pathfinder Ethical Trans-Tasman Fund invests solely in the Wholesale Ethical Trans-Tasman Fund, a wholesale fund managed by Pathfinder and Salt Funds Management Limited. - **Salt Funds Management Limited and Pathfinder Asset Management Limited** (Sister company / manager) — The Pathfinder Ethical Growth Fund may invest in the Wholesale Ethical Fixed Income Fund, the Wholesale Ethical Trans-Tasman Fund, the Pathfinder Responsible Investment Fund and the Green Bond Fund; Salt manages the Wholesale Ethical Trans-Tasman Fund. - **Shareholder affiliates of Pathfinder** (Shareholder affiliates) — Investment in private loans issued by shareholder affiliates, directly or through a fund managed by an affiliate; approved by Ethics and Investment Committee and reported to the board. Source: Other Material Information document dated 2026-03-30. https://smartinvestor.sorted.org.nz/disclose-document/b20ca147c87dd93e/Pathfinder-OMI-MIS-202603.pdf ## How to invest Available via: Pathfinder directly. Read the current Product Disclosure Statement (PDS) before investing. ## Sources - **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Pathfinder%20Global%20Water%20Fund - **Product Disclosure Statement:** /disclose-document/734dda387163bf8f/Pathfinder-Managed-Funds-PDS-2026-Final.pdf - **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10778/OFR10780/FND1229/ - **Manager website:** https://www.pathfinder.co.nz ## Citations (authoritative primary sources) - FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ) - Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities - Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html - Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/ ## This file - **Canonical HTML:** https://managedfunds.nz/funds/pathfinder/global-water/ - **Markdown (this file):** https://managedfunds.nz/funds/pathfinder/global-water/markdown.md - **Structured data (JSON):** https://managedfunds.nz/funds/pathfinder/global-water/data.json - **First published:** 2026-05-08 - **Last refreshed:** 2026-05-22 - **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt --- ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.