# Smart NZ Top 50 ETF

> Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings.

- **Manager:** Smartshares (Smartshares Limited), parent NZX Limited
- **Asset class:** Australasian Equities
- **Structure:** Exchange-traded fund (ETF) — NZX ticker `FNZ`
- **Confidence tier:** C (Sorted Smart Investor → FMA Disclose)
- **Last verified:** 2026-05-22

## Summary

The Smart NZ Top 50 ETF is a australasian equities exchange-traded fund run by Smartshares. NZ’s largest ETF issuer, owned by NZX. Tickers trade on NZX Main Board.

## Fund data

- **Annual fund charge:** 0.50% p.a. (from the latest Quarterly Fund Update)
- **5-year return (after charges, after tax at 28% PIR):** 0.34% p.a.
- **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk)
- **Fund size (AUM):** NZ$573 million
- **Asset mix:** 98% growth assets · 2% income assets
- **Fund started:** 7 November 2016
- **Minimum initial investment:** NZ$500

## Top 10 holdings

1. Infratil Ltd — 5.52%
2. The a2 Milk Co Ltd — 5.20%
3. Meridian Energy Ltd — 5.16%
4. Contact Energy Ltd — 5.15%
5. EBOS Group Ltd — 5.07%
6. Mercury NZ Ltd — 5.00%
7. Fisher & Paykel Healthcare Corp Ltd — 4.99%
8. Mainfreight Ltd — 4.87%
9. Auckland International Airport Ltd — 4.84%
10. Chorus Ltd — 4.69%

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:** 2

### Conflicts of interest (verbatim from OMI)

- Smart may invest in other funds managed by it, rather than in financial products issued by third parties, potentially influencing investment decisions in favour of its own funds; this is managed via the Investment Oversight Committee and by not charging a fee for management services in relation to the Smart Wholesale Scheme where applicable.
- An underlying third party fund manager may invest in other funds that it manages, potentially preferring its own managed funds over those operated by independent third parties; Smart assesses these arrangements at least annually and reviews fund investments monthly, with appointments approved on arm's length terms under Smart's Related Party Transactions Policy.

### Related-party transactions

- **NZX Limited** (Parent company of Smartshares Limited) — Administration services provided to Smart under an Administration Services Agreement

Source: Other Material Information document dated 2026-04-19. https://smartinvestor.sorted.org.nz/disclose-document/08798a00fccd7cd1/Other-Material-Information---Smart-Exchange-Traded-Funds---12-May-2026.pdf

## How to invest

Available via: Smartshares 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=Smart%20NZ%20Top%2050%20ETF
- **Product Disclosure Statement:** /disclose-document/mdo2aaf406a5534f2cb3aea6f63e0b3a0d0/PDS-Core-Series-23-Sep-Final.pdf
- **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10752/OFR10865/FND1115/
- **Manager website:** https://smartshares.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/

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- **First published:** 2026-05-08
- **Last refreshed:** 2026-05-22
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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.