Te Ahumairangi Global Equity Fund
Managed by Te Ahumairangi Te Ahumairangi Global Equity Fund is a international equities managed fund operated by Te Ahumairangi; PIE-structured; FMA risk indicator 4/7. Headline terms: annual fund charge 0.61% · minimum investment NZ$50,000 · distributions no distributions (accumulating). Compared with 80 other same-category funds on this site, the 0.61% 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
0.62%
vs peer avg 0.91%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.91%
Fund size
NZ$889.3m
98% growth · 2% income
The Fund's primary objective is to outperform its benchmark index (50:50 combination of the MSCI World Index and the MSCI Minimum Volatility Index optimised for NZ dollar-based investors). Over the long-term (7+ years), the fund also aims to deliver pre-tax, post-fee returns of over 6.5% per annum and to produce better returns than the broader global equity universe (as proxied by the MSCI World index), while at the same time achieving a significantly lower level of risk (which can be measured in terms of lower return volatility and smaller drawdowns) than the MSCI World Index.
How Te Ahumairangi Global Equity Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- 50:50 combination of the MSCI World Index and the MSCI Minimum Volatility Index optimised for NZ dollar-based investors
- Top 3 holdings
- Microsoft Corp (4.4%) · Verizon Communications (3.0%) · Apple (2.3%)
Key facts
Fund start date
4 November 2021
Min. investment
NZ$50,000
Subsequent: NZ$10,000
Distributions
No distributions (accumulating)
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 |
|---|---|---|---|
| Global equities | 98% | 0% | 100% |
| Cash and cash equivalents | 2% | 0% | 20% |
| Listed fixed interest or hybrid securities | — | 0% | 5% |
| Equity index futures (gross notional) | — | — | 15% |
Responsible-investment approach
Te Ahumairangi maintains an ethical exclusion list excluding companies involved in manufacture of nuclear, chemical, biological weapons, cluster munitions, automatically triggered landmines, certain tobacco-based products, automatic and semi-automatic weapons for civilian use. The list may also exclude companies acting irresponsibly in areas including corruption/bribery, marketing of alcohol or recreational cannabis, gambling, sale of weapons, mining/resource extraction, GHG-intensive fossil fuels, employment of vulnerable people, and illegal colonisation of occupied foreign territories.
Exclusions
- Manufacture of nuclear weapons
- Manufacture of chemical weapons
- Manufacture of biological weapons
- Cluster munitions
- Automatically triggered landmines
- Certain tobacco-based products
- Automatic weapons for civilian use
- Semi-automatic weapons for civilian use
- Companies acting irresponsibly in corruption/bribery
- Marketing of alcohol or recreational cannabis
- Gambling
- Sale of weapons
- Mining/resource extraction
- GHG-intensive fossil fuels
- Employment of vulnerable people
- Participating in the illegal colonisation of occupied foreign territories
Derivatives policy
The Fund may use forward currency contract derivatives for currency hedging purposes and futures contracts linked to global equity markets, with gross notional value of all equity index futures positions limited to 15% of NAV. Short positions in equity index futures are permitted provided they do not reduce net effective exposure to any national equity market below zero; short selling of equity securities is not permitted.
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 NZ acknowledges that because it and registry manager Apex NZ share the same ultimate parent (Apex Group Limited), FundRock may agree commercial terms with Apex NZ that favour Apex NZ at investors' expense.
- FundRock NZ discloses that Apex NZ, a related party under common Apex Group ownership, provides registry services to the Scheme as a paid related-party transaction.
- FundRock NZ discloses that staff of Te Ahumairangi and FundRock, and their families, may personally invest in the Fund from time to time.
Generated 2026-05-28 from Te Ahumairangi Investment Funds 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
Conflicts disclosed
2
In OMI
Conflicts of interest disclosed in OMI
- Both FundRock and the Scheme's registry manager Apex Investment Administration (NZ) Limited are 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, benefiting Apex NZ at the expense of investors.
- Parties related to the Fund, including the staff of Te Ahumairangi and their families and the staff of FundRock and their families, may from time to time invest in the Fund.
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
0.62%
Category median: 0.61%
Mid-pack — cheaper than 48% of peers
Fund size
NZ$889.3m
Category median: NZ$95.7m
Top 7% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$306
Compounded charge over 5 years (excl. returns)
$5 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.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
 Microsoft Corp | 4.36% |
| VC Verizon Communications | 2.97% |
 Apple | 2.26% |
 Alphabet (includes 2 classes of security) | 2.03% |
| EG Everest Group Ltd | 1.47% |
| $ NZ Dollar Cash at Bank | 1.42% |
| NG National Grid | 1.38% |
| $ US Dollar cash at Bank | 1.23% |
| CH CK Hutchison Holdings | 1.21% |
| VE Verisign | 1.18% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- TE AHUMAIRANGI GLOBAL EQUITY FUND (FND35155) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 8.08 KB
- 20260401 Te Ahumairangi Investment Funds PDS.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 942.61 KB
- 20260331 Te Ahumairangi Global Equity QFU.pdf The quarterly update published by the provider PDF, 502.44 KB
- 20260401 Te Ahumairangi Investment Funds OMI.pdf Other Material Information document PDF, 935.75 KB
- 20260401 Te Ahumairangi Investment Funds SIPO.pdf Statement of investment policy and objectives PDF, 887.78 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 Te Ahumairangi
Wellington boutique running a global equity strategy.
See all funds from Te Ahumairangi →Common questions
Questions people ask about Te Ahumairangi Global Equity Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
Is a global equity fund a good investment?
Whether a global equity fund suits your circumstances depends on your investment goals, time horizon, and risk tolerance. Te Ahumairangi Global Equity Fund carries a risk indicator of 4/7 on the FMA standardised scale and holds approximately 98.31% growth assets, meaning it is exposed to equity-market volatility; investors should review the Product Disclosure Statement and consider their own situation before investing.
Which equity fund is best for long term?
Global equity funds are commonly used for longer-term investment because equity markets have historically provided growth over extended periods, though past performance is not indicative of future returns. Te Ahumairangi Global Equity Fund is structured as a PIE, which caps investor tax at the prescribed investor rate (maximum 28%), potentially offering tax efficiency for long-term holding; check the current PDS for full details on fund structure and investment approach.
Head-to-head
Compare Te Ahumairangi Global Equity Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International Equities funds
FMA risk band
Same risk band (4/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 4 funds →AI & integrations
Use this fund inside the tools you already use
Every fund on ManagedFundsNZ ships in three formats so AI assistants and data tools can consume it without scraping: a canonical HTML page, a plain Markdown twin, and a structured JSON twin. Citation back to the canonical URL is required; full reuse policy at /llms-policy.txt.
- Canonical (HTML)managedfunds.nz/funds/te-ahumairangi/global-equity/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/te-ahumairangi/global-equity/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/te-ahumairangi/global-equity/data.jsonMachine-parseable.
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 Te Ahumairangi Global Equity Fund?
Te Ahumairangi Global Equity Fund is managed by Te Ahumairangi. Wellington boutique running a global equity strategy.
What asset class is the Te Ahumairangi Global Equity Fund?
It is a international equities managed fund. 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 Te Ahumairangi Global Equity Fund?
The annual fund charge for the Te Ahumairangi Global Equity Fund is 0.62% 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 Te Ahumairangi Global Equity Fund?
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 Te Ahumairangi Global Equity Fund a PIE fund?
Yes. The Te Ahumairangi Global Equity 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 Te Ahumairangi Global Equity Fund?
Fund size (assets under management) is NZ$889 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Te Ahumairangi Global Equity Fund invest in?
The latest published top holdings are: Microsoft Corp (4.36%), Verizon Communications (2.97%), Apple (2.26%). 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 Te Ahumairangi Global Equity Fund?
The Te Ahumairangi Global Equity Fund is available via Te Ahumairangi directly. Always read the current Product Disclosure Statement before investing.
Is a global equity fund a good investment?
Whether a global equity fund suits your circumstances depends on your investment goals, time horizon, and risk tolerance. Te Ahumairangi Global Equity Fund carries a risk indicator of 4/7 on the FMA standardised scale and holds approximately 98.31% growth assets, meaning it is exposed to equity-market volatility; investors should review the Product Disclosure Statement and consider their own situation before investing.
Which equity fund is best for long term?
Global equity funds are commonly used for longer-term investment because equity markets have historically provided growth over extended periods, though past performance is not indicative of future returns. Te Ahumairangi Global Equity Fund is structured as a PIE, which caps investor tax at the prescribed investor rate (maximum 28%), potentially offering tax efficiency for long-term holding; check the current PDS for full details on fund structure and investment approach.