Summer Global Equities
Summer Global Equities is an international equities managed fund from Summer with a fund size of NZ$43.3 million and an annual fund charge of 1.02%, as shown on Sorted Smart Investor on 22 May 2026.
Managed by SummerFund data last refreshed · holdings as filed to 31/03/2026
Summer Global Equities is a international equities managed fund operated by Summer; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 0.90%. Compared with 83 other same-category funds on this site, the 0.90% annual fund charge sits above the same-category median of 0.62%.
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 ourPIR guideandPIE tax basicsfor the full picture, or use thePIR calculatorto 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.
6.87%
peer avg 5.65%
Fund size
NZ$43.3m
98% growth · 2% income
To achieve long-term returns (before fees, taxes and other expenses) greater than MSCI ACWI Net Total Return Index, 50% hedged to the New Zealand dollar. These investments typically have high levels of movement up and down in value.
How Summer Global Equities differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- MSCI ACWI Net Total Return Index, 50% hedged to the New Zealand dollar
- Top 3 holdings
- Vanguard ESG US Stock ETF (6.0%) · Microsoft Corporation (3.4%) · Vanguard ESG International Stock ETF (3.1%)
Key facts
Fund start date
19 September 2016
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% | 20% |
| Australasian Equities | — | 0% | 20% |
| International Equities | 90% | 80% | 100% |
| Listed Property | — | 0% | 10% |
Responsible-investment approach
Product involvement exclusion screening is applied before direct investment using MSCI screening tools; companies deriving 5% or more revenue from cluster munitions, landmines, biological/chemical/nuclear weapons, depleted uranium weapons, tobacco production, or civilian automatic/semi-automatic weapons are excluded. ESG Risk Assessment framework is applied to directly held Australasian securities using Forsyth Barr CESG ratings, LSEG Workspace and MSCI controversy data.
Exclusions
- Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons
- Companies deriving ≥5% revenue from nuclear weapons production or dual-use delivery/components/services
- Companies deriving ≥5% revenue from tobacco product production
- Companies deriving ≥5% revenue from manufacture or sale of automatic or semi-automatic weapons for civilian use
Derivatives policy
Derivatives may be used where the Investment Manager considers doing so is consistent with the risk profile of a fund and will contribute to the performance objectives of that fund. Foreign exchange derivatives may be used for currency hedging within the ranges established by the Board.
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.
- Forsyth Barr Investment Management acknowledges that all secondary market trades for the Scheme are executed through its related party Forsyth Barr Limited, which earns brokerage on each transaction, potentially incentivising more trading than necessary.
- Forsyth Barr Investment Management discloses that when the Scheme invests in Octagon Investment Funds (which it also manages), management and administration fees charged at that underlying fund level are rebated in full to the Scheme.
- Forsyth Barr Investment Management discloses that employees and directors across the Forsyth Barr Group, including investment decision-makers, may be shareholders of group entities and can personally benefit from decisions that advantage those entities.
- Forsyth Barr Investment Management discloses that Forsyth Barr Limited may act as arranger or underwriter on IPOs and other offers while the Scheme simultaneously acquires those same financial products, creating a potential conflict of interest.
Generated 2026-05-28 from Summer KiwiSaver Scheme OMI (dated 2026-05-13). 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
Deloitte
Custodian
Adminis NZ Limited
Conflicts disclosed
9
In OMI
Conflicts of interest disclosed in OMI
- Octagon Asset Management Limited may make purchases and sales of financial products on behalf of funds other than the funds in the Scheme, which may result in the Scheme funds purchasing from or selling to, or competing with, those other funds for the same investment opportunities.
- Secondary market purchases and sales of financial products for the funds are executed through Forsyth Barr Limited, which receives brokerage for those transactions, potentially encouraging more trading than otherwise warranted.
- Forsyth Barr Limited trades on secondary markets for other clients and may also trade for its own account, creating conflicts where it acts as counterparty to fund transactions and may benefit from price movements.
- Forsyth Barr Limited is currently involved, and is likely in the future to be involved, in offers of financial products (including IPOs) as arranger, lead manager, or co-manager, and related companies may underwrite those offers, while the financial products offered may be acquired by a fund.
- The funds have voting rights in relation to securities they hold, and the firm may be a corporate adviser to issuers of those securities where fees depend on security-holder approval of transactions the firm is advising on.
- The Manager may invest Scheme money in the Octagon Investment Funds, which it manages, and for which it receives management and administration fees.
- The Manager may invest Scheme money in funds managed by persons associated with it, where the manager of the associated fund receives management and administration fees.
- Octagon Asset Management Limited employees making investment decisions for the funds may have a direct or indirect financial interest in financial products in which they transact for the funds, or have personal relationships or outside business interests relevant to issuers of those products.
- Octagon Asset Management Limited employees may also be shareholders of Octagon Asset Management Limited, and many directors and senior managers within the Forsyth Barr Group are shareholders of Forsyth Barr Group Limited, meaning they may benefit financially from decisions that advantage those entities.
How this fund compares to peers
Mechanical comparison vs the 84 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.
Summer Global Equities: 1.02% per annum. International Equities median across 84 funds:0.62%. This fund is 0.40 percentage points above the category median.
Annual fund charge
1.02%
Category median: 0.62%
Mid-pack — cheaper than 30% of peers
5y return p.a. (after fees)
+6.87%
Category median: +8.66%
Below peer median (34th percentile)
Fund size
NZ$43.3m
Category median: NZ$104.3m
33th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$500
Compounded charge over 5 years (excl. returns)
$194 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.
Complete portfolio
This fund files 329 holdings with the FMA as at 31/03/2026. The largest 25 are shown.
Top 10 concentration: 25.0% of net assets.
Direct disclosed holdings only — a floor on exposure, not a total. Filings list wrappers and securities together, so a fund holding another fund shows no look-through here. Disclosed rows account for 100.0% of net assets. Percentages are of this fund's net assets and are safe to sum within this fund only.
| Holding | % of fund | |
|---|---|---|
| Vanguard ESG US Stock ETF | 5.99% | |
| Microsoft Corporation | 3.38% | |
| Vanguard ESG International Stock ETF | 3.06% | |
| Alphabet Inc. Class A | 2.78% | |
| Apple Inc. | 1.90% | |
| Amazon.com Inc. | 1.81% | |
| Uber Technologies Inc | 1.62% | |
| Mastercard Inc. | 1.56% | |
| Nestle S.A. | 1.45% | |
| Salesforce.com, Inc. | 1.41% | |
| Veolia Environnement SA | 1.39% | |
| Verizon Communications Inc | 1.35% | |
| Nvidia Corporation | 1.35% | |
| BNZ Transactional Account NZD | 1.25% | |
| Air Liquide SA | 1.18% | |
| Dexcom Inc. | 1.13% | |
| Xylem Inc. | 1.13% | |
| Mondelez International Inc | 1.08% | |
| Alcon AG | 1.05% | |
| Thermo Fisher Scientific Inc. | 1.04% | |
| JP Morgan Chase & Co. USD Cash Deposit | 1.03% | |
| Boston Scientific Corp | 1.01% | |
| L'Oreal SA | 0.99% | |
| Amadeus IT Group SA | 0.97% | |
| General Motors Co. | 0.96% |
Every NZ managed fund must file its complete portfolio with the FMA each quarter. Where a line is itself a fund, trust or ETF, the securities inside it are not broken out here.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
VEVanguard ESG US Stock ETF | 5.99% |
 Microsoft Corporation | 3.38% |
VEVanguard ESG International Stock ETF | 3.06% |
 Alphabet Inc. Class A | 2.78% |
 Apple Inc. | 1.90% |
 Amazon.Com Inc. | 1.81% |
 Uber Technologies Inc | 1.62% |
 Mastercard Inc. | 1.56% |
 Nestle S.A. | 1.45% |
 Salesforce.Com, Inc. | 1.41% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- SUMMER GLOBAL EQUITIES (FND1183) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.31 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 GEF.pdf The quarterly update published by the provider PDF, 246.93 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 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 Summer
Forsyth Barr-owned retail investment brand with a Selection multi-asset range and single-asset-class index funds.
Summer has 8 retail funds in our coverage across Australasian Equities, Diversified, International Equities, International FI, Listed Property and Cash strategies, with annual fund charges from 0.62% to 1.02% a year.
Parent: Forsyth Barr — Summer is the retail investment brand of Forsyth Barr, a NZ-owned wealth-management and investment firm.
Based in Dunedin.
Common questions
Questions people ask about Summer Global Equities
Questions that recur in search results for this fund, answered from its filed PDS, Fund Update and FMA Disclose record. How the question set was captured is documented in our methodology. Not personal financial advice — for guidance specific to your situation, consult a licensed financial adviser.
Is it good to invest in global equities?
Global equities as an asset class offer exposure to international companies and economic growth, but suitability depends on your investment horizon, risk tolerance, and financial circumstances. Summer Global Equities is rated 5/7 on the FMA standardised risk scale; check the current Product Disclosure Statement to understand whether this risk profile matches your needs.
Are global equities a good investment?
Global equities can form part of a diversified portfolio, though performance and suitability vary by investor and market conditions. Summer Global Equities has delivered 6.87% p.a. after fees and before tax over the past 5 years as at the latest QFU; refer to FMA Disclose (https://disclose-register.companiesoffice.govt.nz/) for the full fund performance record and PDS.
Is a 7% return realistic?
Summer Global Equities achieved 6.87% p.a. after fees and before tax over the past 5 years as at the latest QFU; past performance is not a reliable indicator of future returns. Review the fund's performance history on FMA Disclose and discuss realistic return expectations with a financial adviser.
Do equities have fees?
Yes, equities funds charge annual fees to cover management and administration costs. Summer Global Equities charges 1.02% p.a. as its annual fund charge as disclosed in the latest QFU; this is deducted from the fund's returns before performance is reported.
Head-to-head
Compare Summer Global Equities with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International Equities funds
Same manager
Other funds by Summer
- Summer Balanced SelectionDiversified
- Summer Growth SelectionDiversified
- Summer Australian EquitiesAustralasian 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 Summer Global Equities?
Summer Global 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 Global Equities?
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 Summer Global Equities?
The annual fund charge for the Summer Global 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 Global 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 Global Equities a PIE fund?
Yes. The Summer Global 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 Global Equities?
Fund size (assets under management) is NZ$43 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Summer Global Equities invest in?
The latest published top holdings are: Vanguard ESG US Stock ETF (5.99%), Microsoft Corporation (3.38%), Vanguard ESG International Stock ETF (3.06%). 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 Global Equities?
The Summer Global Equities is available via Summer directly. Always read the current Product Disclosure Statement before investing.
Is it good to invest in global equities?
Global equities as an asset class offer exposure to international companies and economic growth, but suitability depends on your investment horizon, risk tolerance, and financial circumstances. Summer Global Equities is rated 5/7 on the FMA standardised risk scale; check the current Product Disclosure Statement to understand whether this risk profile matches your needs.
Are global equities a good investment?
Global equities can form part of a diversified portfolio, though performance and suitability vary by investor and market conditions. Summer Global Equities has delivered 6.87% p.a. after fees and before tax over the past 5 years as at the latest QFU; refer to FMA Disclose (https://disclose-register.companiesoffice.govt.nz/) for the full fund performance record and PDS.
Is a 7% return realistic?
Summer Global Equities achieved 6.87% p.a. after fees and before tax over the past 5 years as at the latest QFU; past performance is not a reliable indicator of future returns. Review the fund's performance history on FMA Disclose and discuss realistic return expectations with a financial adviser.
Do equities have fees?
Yes, equities funds charge annual fees to cover management and administration costs. Summer Global Equities charges 1.02% p.a. as its annual fund charge as disclosed in the latest QFU; this is deducted from the fund's returns before performance is reported.