Our KiwiSaver Scheme Funds
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This fund provides access to a global share portfolio that offers thematic exposure to disruptive innovation across a number of sectors and geographies.
Disruptive innovation is caused by the introduction of new technologically enabled products or services that permanently change an industry or economic sector by providing greater simplicity, accuracy, customisation and accessibility while driving down costs.
Note: As the Amova ARK Disruptive Innovation Fund has an extremely high level of volatility, investors should be comfortable accepting periodic investment losses in order to try and achieve higher returns over longer timeframes. The recommended timeframe for investment in this fund is a minimum of ten years. If you are a KiwiSaver member planning to make a first home withdrawal in a shorter timeframe, investing in this fund may not be suitable for your circumstances.
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.
ARK is a global asset manager specialising in thematic investing in disruptive innovation. The firm is rooted in over 40 years of experience in investing in technologies that aim to deliver outsized growth as industries transform.
Through its open research process, ARK seeks to identify companies that are leading and benefiting from cross-sector innovations such as artificial intelligence, robotics, energy storage, DNA sequencing, and blockchain technology.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -2.99% | -5.53% | 27.80% | 39.34% | -4.60% |
| Appropriate Market Index (AMI)2 | -0.96% | 3.24% | 17.37% | 37.34% | 20.25% |
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 |
|---|---|
| Tesla Motors Inc | 8.36% |
| Robinhood Markets Inc | 5.53% |
| Shopify Inc | 5.08% |
| Coinbase Global Inc | 4.79% |
| Roku Inc | 4.57% |
| Palantir Technologies Inc | 4.19% |
| Tempus Ai Inc | 4.04% |
| NZD BNP Paribas A/C | 3.90% |
| Roblox Corp | 3.53% |
| Advanced Micro Devices Inc. | 3.33% |
Commentary
As of 31 December 2025
Market Overview
− Broad-based global equity indexes rose due to improved economic outlooks in Europe and interest rate cuts by the Federal Reserve.
− Relative to the MSCI World Index, the Health Care, Materials, and Communication Services sectors outperformed on balance in November, while the Information Technology, Consumer Discretionary, and Industrials sectors lagged.
Fund Highlights
− The fund returned -3.69% for the month and -5.37% for the quarter, underperforming the benchmark for both periods.
− Key contributors for the month include Roku (ROKU), Tesla (TSLA) and Beam Therapeutics (BEAM).
− Key detractors for the month include Tempus AI (TEM), Coinbase (COIN) and Robinhood (HOOD).