Factual snapshot
Milford — review
Mechanical, source-cited snapshot of Milford's NZ retail managed-fund range. We don't rate or recommend — see a licensed financial adviser for personalised advice.
- Funds tracked
- 10
- Median annual fee
- 1.05%
- Median FMA risk
- 4/7
- Tracked NZ retail AUM
- $22.45 billion
Universe median 0.84%
Standardised 1–7 scale
Sum of fund sizes (10/10 on file)
About Milford
New Zealand active manager with diversified, equity and fixed-income strategies.
- Legal name
- Milford Funds Limited
- Headquarters
- Auckland
Fee position vs peers
Per-asset-class median annual fund charge for Milford vs the peer median across all other NZ managers in our coverage. Source: Sorted Smart Investor (FMA Disclose Quarterly Fund Updates).
| Asset class | Milford funds | Milford median fee | Peer median (n) | Position |
|---|---|---|---|---|
| Diversified | 5 | 1.05% | 0.99% (62) | priced 6 bps above the peer median (0.99%) |
| Australasian Equities | 2 | 1.05% | 0.99% (56) | priced 6 bps above the peer median (0.99%) |
| International Equities | 1 | 1.35% | 0.60% (80) | priced 75 bps above the peer median (0.60%) |
| NZ Fixed Interest | 1 | 0.65% | 0.60% (13) | priced in line with the peer median (0.60%) |
| International FI | 1 | 0.85% | 0.69% (30) | priced 16 bps above the peer median (0.69%) |
Fee is the headline ongoing cost; strategy mix, hedging, performance fees and net return after fees also matter when comparing options.
Risk profile mix
Distribution of Milford's 10 funds across the FMA's standardised 1–7 risk indicator. The indicator is calculated from each fund's past five years of unit-price volatility and published on every Quarterly Fund Update.
Milford's funds
- Milford Active Growth FundDiversifiedPIE · capped at PIR (max 28%) growth1.05% fee 4/7 risk
- Milford Aggressive FundDiversifiedPIE · capped at PIR (max 28%) aggressive1.15% fee 5/7 risk
- Milford Balanced FundDiversifiedPIE · capped at PIR (max 28%) balanced1.05% fee 4/7 risk
- Milford Conservative FundDiversifiedPIE · capped at PIR (max 28%) conservative0.85% fee 3/7 risk
- Milford Diversified Income FundDiversifiedPIE · capped at PIR (max 28%) income0.65% fee 3/7 risk
- Milford Australian Absolute Growth FundAustralasian EquitiesPIE · capped at PIR (max 28%)1.05% fee 4/7 risk
- Milford Trans-Tasman Equity FundAustralasian EquitiesPIE · capped at PIR (max 28%)1.05% fee 4/7 risk
- Milford Global Equity FundInternational EquitiesPIE · capped at PIR (max 28%)1.35% fee 5/7 risk
- Milford Global Corporate Bond FundInternational FIPIE · capped at PIR (max 28%)0.85% fee 3/7 risk
- Milford Trans-Tasman Bond FundNZ Fixed InterestPIE · capped at PIR (max 28%)0.65% fee 3/7 risk
Questions about Milford
Is Milford a good fund manager?
Whether Milford suits any individual investor depends on the investor's goals, time horizon, risk tolerance, and how the fund fits an existing portfolio — factors that vary by individual. On this site we surface mechanical, comparable data points: Milford runs 10 retail managed funds in our coverage, with a median annual fund charge of 1.05% across that range (vs the NZ universe median of 0.84%), and a median FMA risk indicator of 4 out of 7. For personalised guidance, see a licensed financial adviser.
What does Milford charge?
Milford's 10 funds in our coverage carry a median annual fund charge of 1.05% (range 0.65% – 1.35%). The annual fund charge is the headline ongoing cost disclosed on every Quarterly Fund Update on the FMA Disclose register. Cross-validate via the per-fund pages, which link to source documents.
How big is Milford?
Across the 10 funds with on-file fund-size data, Milford's tracked NZ retail AUM totals NZD 22.45 billion. This is the sum of fund sizes disclosed in each fund's most recent Quarterly Fund Update on FMA Disclose and excludes KiwiSaver, wholesale and Australian-domiciled assets. Milford may manage materially larger assets in those categories.
Where is Milford based?
Milford (legal name: Milford Funds Limited) is headquartered in Auckland.
What kind of funds does Milford run?
Milford's range of 10 funds in our coverage is weighted toward diversified (5 funds). The range also includes 2 australasian equities funds and 1 international equities fund. See the full list at /providers/milford/.
Other managers running diversified funds
How we built this snapshot
Fund counts and category mix are from src/data/funds.ts (Range of Funds reconciled to the InvestNow + Sharesies + manager-direct universe). Annual fund charge, FMA risk indicator, five-year return and fund size are extracted from each fund's Quarterly Fund Update via Sorted Smart Investor (a Te Ara Ahunga Ora / Retirement Commission service that mirrors the FMA Disclose register). Cross-validate via each per-fund page, which links to the source PDS and Fund Update on FMA Disclose.
ManagedFundsNZ provides information only, not personalised financial advice. For advice, see a licensed financial adviser.