SBS Wealth Australasian Equity Portfolio
Managed by SBS Wealth SBS Wealth Australasian Equity Portfolio is a australasian equities managed fund operated by SBS Wealth; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 1.20% · minimum investment NZ$500 · distributions no distributions (accumulating). Compared with 57 other same-category funds on this site, the 1.20% 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
1.20%
vs peer avg 0.91%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
1.12%
peer avg 4.91%
Fund size
NZ$30.3m
98% growth · 2% income
The Fund aims to achieve capital growth and returns over the long-term, and to provide a gross return above the return of the composite Australasian Equity and NZ Cash Indices with net dividends reinvested on a rolling three-year basis.
Benchmark track record
Compare Australasian Equities consistency →How SBS Wealth Australasian Equity Portfolio 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.
Growth of NZ$10,000
2013–2026, after fees & taxA notional NZ$10,000 compounded by each year's disclosed net return — a track-record trajectory from the FMA fund-update data, not a live unit price. Past performance is not a guide to the future.
NZ$10,000 → NZ$25,568 · to 31 March 2026
Beat its benchmark in 2 of 11 years
annual returns to 31 March 2026Since inception: 8.59% p.a. after fees & tax vs benchmark 10.57%.
How SBS Wealth Australasian Equity Portfolio differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- Composite Australasian Equity and NZ Cash Indices
- Top 3 holdings
- Dimensional Australian Sustainability PIE Fund (18.1%) · Fisher & Paykel Healthcare Ltd (9.1%) · Contact Energy Ltd (6.5%)
Key facts
Fund start date
17 November 2004
Min. investment
NZ$500
Subsequent: NZ$50
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 |
|---|---|---|---|
| New Zealand Cash | 5% | 2% | 10% |
| Australasian Equities | 95% | 90% | 98% |
Responsible-investment approach
Guided by stewardship principles of 'driving change over time, not over night' and 'focus on opportunities, not just exclusions'. Favours investments with lower carbon intensity or lower fossil fuel involvement and prefers companies with greater carbon solutions involvement.
Exclusions
- Collateralised debt obligations
- Collateralised loan obligations
- Over-the-counter derivatives
- Floating rate notes with final maturity >180 days
Derivatives policy
Derivatives may be used as a risk management tool (e.g. to hedge currency risk) but not to leverage any Fund or increase portfolio risk beyond directly held securities; any derivative positions must be backed by physically held positions and the Supervisor must be advised of any decision to use derivatives.
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.
- SBS Wealth acknowledges it is wholly owned by SBS Bank, which also receives the Funds' cash deposits, meaning the manager's parent company benefits directly from how Fund liquidity is invested.
- Trustees Executors Limited holds four simultaneous roles — Supervisor, Administration Manager, Registrar, and Custodian — which SBS Wealth discloses may create conflicts between its oversight duties and its service-provider interests.
- Trustees Executors Limited is entitled to reimbursement of expenses and GST on its fees charged to the Funds, meaning investors bear costs from a related party performing multiple functions.
- Each Fund's cash is held primarily in unsecured deposits with ANZ Bank New Zealand Limited, concentrating liquidity risk with a single third-party bank counterparty.
Generated 2026-05-28 from SBS Wealth Investment Funds OMI (dated 2025-11-10). 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
Trustees Executors Limited
Auditor
KPMG
Custodian
Apex Custodian Nominees (New Zealand) Limited (nominated by Trustees Executors Limited, which retains primary responsibility for custody)
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- SBS Wealth is a wholly owned subsidiary of SBS Bank, meaning the manager has a parent relationship with a major bank that also provides deposit services to the Funds, creating a potential conflict between the manager's interests and those of investors.
- Some partners and staff of KPMG (the auditor) may hold units in the Funds in their personal capacity, which could represent a potential conflict of interest for the auditor.
- Trustees Executors Limited acts simultaneously as Supervisor, Administration Manager, Registrar, and (through its nominee Apex Custodian Nominees (NZ) Limited) Custodian, concentrating multiple roles in a single entity which may create conflicts between its supervisory and service-provider functions.
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
1.20%
Category median: 1.01%
Pricier than most peers (top 78% by fee)
5y return p.a. (after fees)
+1.12%
Category median: +1.68%
Below peer median (40th percentile)
Fund size
NZ$30.3m
Category median: NZ$74.1m
28th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$586
Compounded charge over 5 years (excl. returns)
$91 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
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| DA Dimensional Australian Sustainability PIE Fund | 18.15% |
 Fisher & Paykel Healthcare Ltd | 9.06% |
 Contact Energy Ltd | 6.55% |
 Meridian Energy Limited | 6.23% |
 Infratil Ltd | 6.17% |
 Auckland International Airport Ltd | 4.98% |
 Ebos Group Ltd | 4.25% |
 Mercury NZ Limited | 3.79% |
 Spark New Zealand Ltd | 3.77% |
 Chorus Ltd | 3.44% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- SBS WEALTH AUSTRALASIAN EQUITY PORTFOLIO (FND2935) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.36 KB
- SBS Wealth Investment Funds Product Disclosure Statement 112025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 230.57 KB
- FUND UPDATE Australasian Equity 31032026 .pdf The quarterly update published by the provider PDF, 259.58 KB
- SBS Wealth Investment Funds Statementof Investment Policyand Objectives 112025.pdf The statement of investment policy and objectives for each of the SBS Wealth Investment Funds PDF, 320.30 KB
- Lifestages Investment Funds Noteonstructure.DOCX.pdf Lifestages Investment Funds - Note on structure PDF, 194.79 KB
- SBS Wealth Investment Funds Other Material Information 112025.pdf This document contains additional material information about the SBS Wealth Investment Funds and should be read alongside the PDS. It
- Lifestages Investment Funds Consolidated Establishment Deeds 1 November 2016.pdf Consolidated Establishment Deeds for each of the Lifestages Investment Funds PDF, 3.02 MB
- SBS Wealth Liquidity Risk Management Policy 2024.pdf SBS Wealth Liquidity Risk Management Policy 2024 PDF, 1.69 MB
- Lifestages Investment Funds Consolidated Master Trust Deed 1 November 2016.pdf Consolidated Master Trust Deed for the Lifestages Investment Funds PDF, 705.20 KB
- SBS Wealth Investment Funds Statementof Investment Policyand Objectives 112025.pdf Statement of investment policy and objectives PDF, 320.30 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 SBS Wealth
SBS Bank-branded retail managed-fund range issued by FundRock NZ; multi-asset strategies plus Australasian / world equity and bond portfolios.
Parent: SBS Bank
See all funds from SBS Wealth →Head-to-head
Compare SBS Wealth Australasian Equity Portfolio with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities funds
Same manager
Other funds by SBS Wealth
- SBS Wealth Growth StrategyDiversified
- SBS Wealth High Growth StrategyDiversified
- SBS Wealth World Equity PortfolioInternational 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.
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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 SBS Wealth Australasian Equity Portfolio?
SBS Wealth Australasian Equity Portfolio is managed by SBS Wealth (parent: SBS Bank). SBS Bank-branded retail managed-fund range issued by FundRock NZ; multi-asset strategies plus Australasian / world equity and bond portfolios.
What asset class is the SBS Wealth Australasian Equity Portfolio?
It is a australasian equities managed fund. The fund has a growth risk profile. 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 SBS Wealth Australasian Equity Portfolio?
The annual fund charge for the SBS Wealth Australasian Equity Portfolio is 1.20% 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 SBS Wealth Australasian Equity Portfolio?
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 SBS Wealth Australasian Equity Portfolio a PIE fund?
Yes. The SBS Wealth Australasian Equity Portfolio 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 SBS Wealth Australasian Equity Portfolio?
Fund size (assets under management) is NZ$30 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the SBS Wealth Australasian Equity Portfolio invest in?
The latest published top holdings are: Dimensional Australian Sustainability PIE Fund (18.15%), Fisher & Paykel Healthcare Ltd (9.06%), Contact Energy Ltd (6.55%). 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 SBS Wealth Australasian Equity Portfolio?
The SBS Wealth Australasian Equity Portfolio is available via SBS Wealth directly. Always read the current Product Disclosure Statement before investing.