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This fund invests in a selection of NZ dollar denominated cash investments and short-term bonds that aim to protect value while at the same time providing a higher return than bank deposits.
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.
Amova Asset Management New Zealand Limited, established in 1994, manages funds for a wide range of clients including charities, corporations, local governments, and individual investors.
As a New Zealand-based investment manager, it benefits from the global expertise of its parent company, Amova Asset Management, one of Asia’s largest asset managers. Led by Stuart Williams since 2023, Amova NZ actively manages New Zealand equity and fixed income assets, partnering with Goldman Sachs, NAM Europe, and ARK for global investments. Believing in active management, they seek to uncover market opportunities.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 0.27 | 0.73 | 3.08 | 4.71 | 3.81 |
| Appropriate Market Index (AMI)2 | 0.22 | 0.64 | 2.80 | 4.40 | 3.65 |
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 |
|---|---|
| Rabobank NederlandNZ 190628 FRN | 5.88% |
| Kiwibank Ltd 130628 FRN | 4.70% |
| Rabobank NederlandNZ 200229 Frn | 4.03% |
| ASB Bank Limited 181027 FRN | 3.83% |
| Kiwibank Ltd 150328 FRN | 3.71% |
| MUFG Bank Ltd Auckland Branch 241126 FRN | 3.06% |
| KiwiBank 2.635% 05/10/2026 | 2.79% |
| Toyota Finance New Zealand Ltd 110926 Frn | 2.78% |
| Toyota Fin New Zealand 300927 Frn | 2.48% |
| Auckland Council 260628 Frn | 2.37% |
Commentary
As of 30 June 2026
Market Overview
Fund Highlights