JMI Wealth Growth

JMI Wealth Growth charges 1.29 percent in total fees, making it the most expensive growth fund on the market and roughly twice the category average. That figure includes a 0.99 percent management fee, 0.30 percent in other charges, and a 0.12 percent performance fee. The fund holds just $11.5 million in assets across 76 percent growth holdings, split between 27 percent Australasian shares and 50 percent international equities.

The portfolio is built almost entirely from other managed funds rather than direct holdings. The largest position is a 16 percent allocation to the Schroder Sustainable Global Core PIE Fund, followed by the Amova NZ Bond Fund at 7.89 percent and the Brandywine Global Opportunistic Equity Fund at 6.04 percent. Cash sits at 5.12 percent through an ANZ account. The only direct company holding in the top ten is Infratil, which accounts for 1.64 percent. International exposure comes through Capital Group's New Perspective Fund, an iShares emerging markets ETF, and the Wellington Global Stewards Fund.

Over five years, the fund has delivered 6.8 percent annualised and ranks 15th in its category. The three-year return of 12.2 percent also places it 15th, while the one-year figure of 10.0 percent puts it 17th.

General information only, not financial advice. Past performance is not a reliable indicator of future results.