What is Warren Buffett's favorite index fund?

What's the difference between a growth fund and a balanced fund?

A growth fund typically allocates a higher proportion to growth assets (shares and property) to pursue capital appreciation, while a balanced fund like Harbour Balanced Growth Fund holds a more moderate mix—in this case approximately 78.34% growth assets and 21.66% income assets—to balance growth potential with income stability. The balanced approach generally carries a lower risk indicator on the FMA standardised scale; Harbour's risk indicator is 4/7.

What is the difference between equity fund and income fund?

An equity fund invests in shares with the primary goal of capital growth, while an income fund prioritises regular cash distributions (dividends or interest). The Harbour Australasian Equity Income Fund blends both approaches: it selects equities for dividend-paying potential, but its asset mix remains heavily weighted to growth assets (98.31%), meaning capital movements may have a material effect on overall returns.

What is Vanguard International shares Select Exclusions index fund?

This is an international equities index fund managed by Vanguard Australia that tracks a selection of global shares while applying exclusion screens. The fund is available to NZ investors via InvestNow and is taxed under the FIF rules (file IR3). Check the current product disclosure statement on the Vanguard website for full details on the exclusion criteria and index methodology.