Stewart Investors Worldwide Leaders Fund
Managed by Stewart Investors Stewart Investors Worldwide Leaders Fund is a international equities managed fund operated by Stewart Investors; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 0.62% · minimum investment NZ$50,000 · distributions semi-annually. Compared with 80 other same-category funds on this site, the 0.62% annual fund charge sits in line with the same-category median of 0.60%.
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
0.61%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.91%
Fund size
NZ$12.3m
98% growth · 2% income
To achieve long-term capital appreciation by investing in companies which contribute to, and benefit from, sustainable development. Stewart Investors invests in larger capitalisation companies with a minimum investible market cap (free float) of US$5 billion at the time of initial investment. The Fund aims to exceed the MSCI All Country World Index (NZD) over rolling five-year periods before fees and taxes.
How Stewart Investors Worldwide Leaders Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- MSCI All Country World Index (NZD)
- Responsible-investment screen
- Excludes Companies with material exposure to exploration, production or generation of fossil fuel energy (coal, unconventional oil & gas, conventional oil & gas) — 5% gross revenue threshold; Companies materially involved in nuclear energy — 5% gross revenue threshold; Companies that wilfully or persistently neglect their environmental obligations — no materiality threshold, plus 10 additional categories (full list in the SIPO).
- Top 3 holdings
- Samsung Electronics Co Ltd (7.2%) · Singapore Telecomm Npv B L 100 (6.8%) · Watsco Inc (4.8%)
Key facts
Fund start date
2 September 2022
Min. investment
NZ$50,000
Subsequent: NZ$5,000
Distributions
Semi-annually
Buy / sell spread
10 bps (0.10%) / 10 bps (0.10%)
Transaction cost on subscription / redemption
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 | 10% | 0% | 10% |
| Global equities | 90% | 90% | 100% |
Responsible-investment approach
The Investment Manager takes into account labour standards or environmental, social and ethical considerations for the purpose of selecting, retaining or realising investments. Stewart Investors evaluates companies through a Quality Assessment and Sustainability Assessment using qualitative judgements rather than quantitative thresholds, and excludes companies with material exposure to harmful and controversial products, services or practices including fossil fuels, nuclear power, tobacco, armaments (controversial weapons at 0% threshold), gambling, pornography, alcohol production, and others as set out in the Position Statement.
Exclusions
- Companies with material exposure to exploration, production or generation of fossil fuel energy (coal, unconventional oil & gas, conventional oil & gas) — 5% gross revenue threshold
- Companies materially involved in nuclear energy — 5% gross revenue threshold
- Companies that wilfully or persistently neglect their environmental obligations — no materiality threshold
- Companies materially involved in the production of alcohol products — 5% gross revenue threshold
- Companies involved in the production of Tobacco Products — 0% revenue threshold; wholesaling/distribution/dedicated services to tobacco producers — 5% threshold
- Companies materially involved in gambling operations or provision of gambling opportunities — 5% gross revenue threshold
- Companies involved in production of pornography — 0% gross revenue threshold; material distribution of pornography — 5% threshold
- Companies materially involved in the export of live animals, cruel production practices (e.g. factory farming), or trade of controversial animal products such as ivory — 5% gross revenue threshold
- Companies involved in animal testing during production of consumer/medical/chemical/household products except where testing meets ethical standards, is regulatory-required, or no alternative methods exist — 5% gross revenue threshold
- Companies that discriminate against or seek to impinge on abortion rights for women — no materiality threshold
- Companies involved in research for reproductive cloning of human beings or animals — no materiality threshold
- Companies with poor records on globally accepted human rights norms including modern slavery, child labour, capital punishment, indigenous rights and community impacts — no materiality threshold
- Companies materially involved in manufacture of armaments including Controversial Weapons (anti-personnel mines, cluster weapons, biological and chemical weapons, depleted uranium, nuclear weapons, white phosphorus munitions — 0% threshold) and other armaments such as hand guns — 5% threshold
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.
- FundRock acknowledges that because it and registry manager Apex NZ share the same ultimate parent (Apex Group Limited), FundRock may agree registry-service fees more favourable to Apex NZ than to unitholders.
- Apex NZ, a related party under common Apex Group ownership, is paid by the Scheme for registry services, meaning fund costs flow to a company in the same corporate group as the manager.
- Any related-party transaction must be notified to the Supervisor and certified as arm's length, or receive Supervisor consent or unitholder approval before proceeding.
Generated 2026-05-28 from Stewart Investors (NZ) 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
Auditor
PricewaterhouseCoopers
Custodian
BNP Paribas Fund Services Australasia Pty Limited (BNP); assets may be registered in the name of BNP Paribas Nominees (NZ) Limited
Conflicts disclosed
4
In OMI
Conflicts of interest disclosed in OMI
- FundRock and the Scheme's registry manager Apex Investment Administration (NZ) Limited are both ultimately owned by Apex Group Limited, which may influence FundRock to agree commercial terms with Apex NZ that are more favourable to Apex NZ than would otherwise be the case, potentially benefiting Apex NZ at the expense of unitholders.
- Parties related to the Fund, including the staff and families of all parties listed in the 'Other information on the parties involved' section, may from time to time invest in the Fund.
- Where FundRock contracts out its functions to other parties (such as investment management to First Sentier Investors), it must ensure those persons perform those functions to the same standard and are subject to the same duties and restrictions as if FundRock were performing them itself.
- A related party transaction in respect of the Fund may only be done if the details are notified to the Supervisor and FundRock certifies the transaction is on arm's length terms, or obtains the Supervisor's consent on the basis it is in the best interests of unitholders, or obtains Special Resolution approval by unitholders.
How this fund compares to peers
Mechanical comparison vs the 81 other international 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
0.61%
Category median: 0.61%
Cheaper than 50% of peers
Fund size
NZ$12.3m
Category median: NZ$95.7m
9th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$301
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
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| SE Samsung Electronics Co Ltd | 7.17% |
| ST Singapore Telecomm Npv B L 100 | 6.77% |
| WA Watsco Inc | 4.76% |
| $ Cash at Bank (BNZ) | 4.67% |
| BN Biomerieux Npv | 4.54% |
| KT Kla Tencor Corporation Com | 4.14% |
| FC Fortinet Inc Com | 3.95% |
| MM Mahindra & Mahindra Limited | 3.87% |
| MA Markel Corporation | 3.86% |
| AL Alcon Ag | 3.85% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- STEWART INVESTORS WORLDWIDE LEADERS FUND (FND38994) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.14 KB
- 20260401 Stewart Investors PDS.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 804.87 KB
- 20260331 Stewart Investors Worldwide Leaders QFU.pdf The quarterly update published by the provider PDF, 458.62 KB
- 20260401 Stewart Investors OMI.pdf Other material information PDF, 796.65 KB
- 20260401 Stewart Investors SIPO.pdf Statement of investment policy and objectives PDF, 1.17 MB
About this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Stewart Investors
Sustainable-investing specialist (First Sentier subsidiary) with a Worldwide Leaders PIE fund for NZ investors.
Parent: First Sentier Investors
See all funds from Stewart Investors →Head-to-head
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Peer funds
Other International Equities funds
FMA risk band
Same risk band (5/7)
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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 Stewart Investors Worldwide Leaders Fund?
Stewart Investors Worldwide Leaders Fund is managed by Stewart Investors (parent: First Sentier Investors). Sustainable-investing specialist (First Sentier subsidiary) with a Worldwide Leaders PIE fund for NZ investors.
What asset class is the Stewart Investors Worldwide Leaders Fund?
It is a international equities managed fund. The fund has a growth risk profile. Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
What are the fees for the Stewart Investors Worldwide Leaders Fund?
The annual fund charge for the Stewart Investors Worldwide Leaders Fund is 0.61% 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 Stewart Investors Worldwide Leaders Fund?
The risk indicator is 5/7 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 Stewart Investors Worldwide Leaders Fund a PIE fund?
Yes. The Stewart Investors Worldwide Leaders 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 Stewart Investors Worldwide Leaders 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 Stewart Investors Worldwide Leaders Fund invest in?
The latest published top holdings are: Samsung Electronics Co Ltd (7.17%), Singapore Telecomm Npv B L 100 (6.77%), Watsco Inc (4.76%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
Does the Stewart Investors Worldwide Leaders Fund apply responsible-investment screens?
Yes. The Stewart Investors Worldwide Leaders 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 Stewart Investors Worldwide Leaders Fund?
The Stewart Investors Worldwide Leaders Fund is available via Stewart Investors directly. Always read the current Product Disclosure Statement before investing.