Listed Equities Investment Opportunities in New Zealand
Wholesale-class listed equity funds covering NZ, Australian and global publicly traded shares — long-only, long/short, dividend, and sustainability-overlay strategies.
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About This Category
Listed equity funds invest in publicly traded shares on the NZX, ASX and major global exchanges. They are structurally distinct from Private Equity (which holds unlisted late-stage companies) and from Venture Capital (which holds early-stage unlisted businesses). Wholesale-class listed equity funds in New Zealand typically pair retail-fund strategies with reduced fees, higher minimums, and PIE tax efficiency.
Strategies span long-only NZ and Australasian equities (passive index, active stock-picking, dividend yield), long/short equity (Devon Alpha-style), sustainability-overlay (RIAA-aligned, climate-focused, green-impact), and global equity (developed-market and emerging-market exposure). Most funds are PIE-structured with prescribed investor rates capped at 28%, making them tax-efficient for high-income investors.
Wholesale minimums typically start at $50,000-$500,000. Liquidity is usually daily or weekly. Target returns vary by strategy: passive index 7-9% p.a. long-term, active long-only 8-12%, long/short 6-10% with lower volatility, sustainability-overlay 7-10%.
Fund Managers in this Category
Explore providers offering funds in this asset class on Wholesale Investor NZ.
Devon Funds Management
Devon Funds Management is an award-winning New Zealand fund manager established in 2010 after acquiring Goldman Sachs JBWere NZ's asset management business. Managing over $2.5 billion for community trusts, iwi, charities, KiwiSaver schemes and individual investors, Devon offers wholesale funds for investors with $10 million or more. Known for active management and ESG leadership, Devon has been named a Responsible Investment Leader by RIAA.
PG Investments
PG Investments (Perpetual Guardian Investments) provides a transparent and scalable platform equipping advisers with forward-thinking investment solutions. Their range spans from diversified core funds to customised single-asset strategies, including specialist funds, core funds, and multi-asset portfolios. The PG Funds Scheme is a wholesale offer available to qualifying wholesale investors under the Financial Markets Conduct Act 2013.
Frequently Asked Questions
How do listed equity funds differ from private equity?
Listed equity funds hold shares in publicly traded companies (NZX, ASX, global exchanges) with daily price discovery and high liquidity. Private equity funds hold unlisted late-stage companies, typically with 5-10 year lock-ups and no daily liquidity. The risk-return profile, fee structure and tax treatment differ materially.
What is PIE tax structure and why does it matter?
PIE (Portfolio Investment Entity) funds tax investors at their Prescribed Investor Rate (PIR), capped at 28% — favourable for investors in higher tax brackets (33%/39%). Most wholesale-class listed equity funds in NZ are PIE-structured.
Can listed equity funds qualify for the AIP visa?
Yes — NZX-listed equities (including via managed funds) are an Acceptable Investment under the AIP Balanced Category. The Growth Category requires more active/growth-stage strategies. Always check the NZTE Acceptable Managed Funds list for fund-specific pre-approval status.
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For wholesale and eligible investors only. Minimum investment typically $50,000+.