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 1.07%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
4.51%
peer avg 4.96%
Fund size
NZ$111.5m
78% growth · 22% income
The Summer Growth Selection fund invests in a lesser exposure to cash and fixed interest investments and a greater exposure to equity and property investments. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark. Investors can expect moderate to high levels of movement up and down in value and, longer-term returns that are higher than those of the Summer Balanced Selection (but with more risk).
Key facts
Fund start date
8 April 2019
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 67 other diversified 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: 0.99%
Mid-pack — cheaper than 45% of peers
5y return p.a. (after fees)
+4.51%
Category median: +3.27%
Above peer median (70th percentile)
Fund size
NZ$111.5m
Category median: NZ$57.5m
62th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$500
Compounded charge over 5 years (excl. returns)
$14 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 |
|---|---|
| HG Hunter Global Fixed Interest Fund | 4.97% |
| VE Vanguard ESG US Stock ETF | 2.75% |
 Fisher & Paykel Healthcare Corporation Limited | 2.46% |
 Microsoft Corporation | 1.55% |
 Precinct Properties New Zealand Limited | 1.53% |
| GP Goodman Property Trust | 1.51% |
| VE Vanguard ESG International Stock ETF | 1.40% |
 BHP Group Limited | 1.31% |
 Auckland International Airport Limited | 1.29% |
 Alphabet Inc. Class A | 1.28% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- SUMMER GROWTH SELECTION (FND13671) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.48 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 GRO.pdf The quarterly update published by the provider PDF, 250.26 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
Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
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 Growth Selection with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified 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 Growth Selection?
Summer Growth Selection 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 Growth Selection?
It is a diversified managed fund. The fund has a growth risk profile. Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
What are the fees for the Summer Growth Selection?
The annual fund charge for the Summer Growth Selection 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 Growth Selection?
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 Summer Growth Selection a PIE fund?
Yes. The Summer Growth Selection 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 Growth Selection?
Fund size (assets under management) is NZ$111 million as at the latest Quarterly Fund Update. Asset mix is approximately 78% growth assets and 22% income assets.
What does the Summer Growth Selection invest in?
The latest published top holdings are: Hunter Global Fixed Interest Fund (4.97%), Vanguard ESG US Stock ETF (2.75%), Fisher & Paykel Healthcare Corporation Limited (2.46%). 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 Growth Selection?
The Summer Growth Selection is available via Summer directly. Always read the current Product Disclosure Statement before investing.