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 | 9.82% | 22.72% | 82.75% | 29.80% | 1.13% |
| Appropriate Market Index (AMI)2 | 7.28% | 14.38% | 35.85% | 30.50% | 20.45% |
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 | 9.33% |
| Robinhood Markets Inc | 6.59% |
| Roblox Corp | 5.73% |
| Coinbase Global Inc | 5.71% |
| Palantir Technologies Inc | 4.89% |
| Roku Inc | 4.66% |
| Shopify Inc | 4.56% |
| Tempus Ai Inc | 4.47% |
| Teradyne Inc | 2.85% |
| Advanced Micro Devices | 62224412.00% |
Commentary
As of 30 September 2025
Market Overview
Fund Commentary
Key contributors for the month include Tesla (TSLA), Robinhood (HOOD) and Beam Therapeutics (BEAM).
Shares of Tesla contributed to performance during the month. The company unveiled its Master Plan IV outlining a path to sustainable abundance, announced Elon Musk’s potential $1 trillion pay package, received approval to begin autonomous vehicle testing in Nevada, and reported Musk’s purchase of nearly $1 billion of stock, his first in more than five years and his largest by value. The company also received several price target increases. Shares of Robinhood contributed to the fund this month, entering the S&P 500 and unveiling several initiatives at its HOOD Summit. The company launched Robinhood Social with verified live trades, upgraded Robinhood Legend with short selling, custom indicators, and futures, and introduced Robinhood Ventures Fund I to give retail investors access to private companies. Its prediction markets hub also surpassed $4 billion in cumulative contract volume, driven by NFL contracts. Shares of Beam Therapeutics contributed to fund performance this month following favourable comparisons to Wave's clinical data for its RNA-editing therapy in AATD, which eased competitive pressure. The FDA has also granted RMAT designation for BEAM-101 for sickle cell disease.
Key detractors for the month include DraftKings (DKNG), Iridium Communications (IRDM) and 10x Genomics (TXG).
Shares of DraftKings detracted from the fund this month, due to concerns surrounding the popularity of other company's event contracts and prediction markets potentially taking share from traditional sportsbooks. Shares of Iridium Communications detracted from performance during the month after SpaceX acquired EchoStar’s US low-bandwidth spectrum as well as global Mobile Satellite Service (MSS) spectrum licenses, which more directly competes with Iridium’s global low-bandwidth spectrum. While the extent of the impact is unclear, notably, any effect is at least around 2 years out according to Elon Musk, since current chips in devices cannot support the acquired frequency. Shares of 10X Genomics detracted from fund performance this month. There was an absence of major announcements or developments during this period but the overhang from uncertainty in the funding environment continues.