Summer Australian Equities
Managed by Summer 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
1.02%
vs peer avg 0.85%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
8.01%
peer avg 5.65%
Fund size
NZ$17.5m
98% growth · 2% income
The Summer Australian Equities fund invests mostly in Australian shares, and can invest in New Zealand listed shares where the company has meaningful operations in Australia. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/ASX 200 Accumulation Index, 50% hedged to the New Zealand dollar.
Key facts
Fund start date
19 September 2016
Tax structure
PIE
Capped at your PIR (max 28%)
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
1.02%
Category median: 1.01%
Mid-pack — cheaper than 49% of peers
5y return p.a. (after fees)
+8.01%
Category median: +1.68%
Higher than 85% of peers
Fund size
NZ$17.5m
Category median: NZ$74.1m
20th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$500
Compounded charge over 5 years (excl. returns)
$5 more than peer median
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 |
|---|---|
 BHP Group Limited | 9.69% |
 Commonwealth Bank of Australia Limited | 7.10% |
 Westpac Banking Corporation | 4.68% |
| AA Australia and New Zealand Banking Group Limited | 4.06% |
 CSL Limited | 3.52% |
 National Australia Bank Limited | 3.35% |
| RT Rio Tinto Limited | 2.72% |
 Macquarie Group Limited | 2.57% |
| TG Telstra Group | 2.35% |
 Goodman Group | 2.24% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- SUMMER AUSTRALIAN EQUITIES (FND990) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.55 KB
- Summer Kiwi Saver Scheme Product Disclosure Statement 14 May 2026.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.75 MB
- Summer Kiwi Saver Fund Update AUEQ.pdf The quarterly update published by the provider PDF, 246.63 KB
- Summer Kiwi Saver Scheme SIPO 14 May 2026.pdf This is the Statement of Investment Policy and Objectives for the Summer KiwiSaver Scheme PDF, 516.12 KB
- Summer Kiwi Saver Scheme OMI 14 May 2026.pdf This document contains additional information relating to the Summer KiwiSaver Scheme PDF, 423.50 KB
- Summer Kiwi Saver Scheme SIPO 14 May 2026.pdf Statement of investment policy and objectives PDF, 516.12 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 Summer
Forsyth Barr-owned retail investment brand with a Selection multi-asset range and single-asset-class index funds.
Parent: Forsyth Barr
See all funds from Summer →Head-to-head
Compare Summer Australian Equities with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities 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 Summer Australian Equities?
Summer Australian Equities is managed by Summer (parent: Forsyth Barr). Forsyth Barr-owned retail investment brand with a Selection multi-asset range and single-asset-class index funds.
What asset class is the Summer Australian Equities?
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 Summer Australian Equities?
The annual fund charge for the Summer Australian Equities is 1.02% 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 Summer Australian Equities?
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 Summer Australian Equities a PIE fund?
Yes. The Summer Australian Equities 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 Summer Australian Equities?
Fund size (assets under management) is NZ$17 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Summer Australian Equities invest in?
The latest published top holdings are: BHP Group Limited (9.69%), Commonwealth Bank of Australia Limited (7.10%), Westpac Banking Corporation (4.68%). 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 Summer Australian Equities?
The Summer Australian Equities is available via Summer directly. Always read the current Product Disclosure Statement before investing.