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This fund provides investors with concentrated exposure to New Zealand and Australian share markets from an actively managed investment portfolio of high conviction companies. The manager selects companies for investment where they have a strong view on the medium-term outlook for positive returns.
In times of high uncertainty or low conviction the fund can hold more cash than typical Australasian shares funds.
Risk Indicator (volatility)
Target Asset Allocation
This number indicates the relative 'risk' level of this fund based on the types of assets it is invested in, ranging from level 1 (least risky) to 7 (most risky).
| Risk category | Description of volatility |
| 1 | Very low |
| 2 | Low |
| 3 | Medium |
| 4 | Medium to High |
| 5 | High |
| 6 | Very high |
| 7 | Extremely high |
The risk indicators are calculated using returns of the funds, the returns of the fund’s market index or a combination of both, for the previous five years. Index returns or a mix are used if the fund has existed for less than five years. All Managers are required to use the same methodology so you can compare the risk of different funds if you are researching more than one manager.
Michael is the Head of Equities at Amova. In this video, he explains what an average day in his job looks like, what he's trying to achieve with this portfolio, and what he sees as a good investment. Michael also talks us through the investment process and outlines the main reasons why you should consider the Amova Concentrated Equity Fund for your next investment.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -0.67% | -5.57% | -3.98% | 4.14% | 1.54% |
| Appropriate Market Index (AMI)2 | -0.91% | -0.82% | 4.05% | 4.73% | 1.22% |
AMI (appropriate market index) is a theoretical portfolio with similar underlying assets as the fund. This allows investors to see a comparison of how the value of those assets have changed in the market relative to the fund.
| Security Name | Percentage |
|---|---|
| Infratil Limited | 10.48% |
| NEXTDEC Ltd | 9.63% |
| Spark New Zealand Ltd | 8.70% |
| Summerset Group Holdings Ltd | 8.39% |
| Worley Limited | 7.90% |
| Meridian Energy Ltd NPV | 7.15% |
| Contact Energy Limited | 6.88% |
| Ryman Healthcare Ltd | 6.03% |
| Aristocrat Leisure Ltd | 5.24% |
| Resmed Inc | 5.16% |
Commentary
As of 31 January 2026