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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.
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.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 4.91% | 5.02% | 17.93% | -20.35% | |
| Appropriate Market Index (AMI)2 | 0.34% | -2.39% | 29.17% | 14.52% |
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 | 8.47% |
| Roku Inc | 6.86% |
| Roblox Corp | 6.38% |
| Palantir Technologies Inc | 5.56% |
| Coinbase Global Inc | 5.56% |
| Shopify Inc | 4.86% |
| Block Inc | 4.61% |
| Robinhood Markets Inc | 4.41% |
| Meta Platforms Inc | 3.90% |
| 10X Genomics Inc | 3.24% |
Commentary
As of 30 September 2024
Key contributors for the month include Tesla (TSLA), Palantir (PLTR) and Robinhood (HOOD). Shares of Tesla contributed to performance during the month ahead of the October robotaxi event and analysts' forecasts of better-than-expected third quarter vehicle deliveries. During the month, the company's AI team released its roadmap for Full Self-Driving software updates from now through the first quarter of 2025, achieving all September milestones by month's end. Palantir was a contributor to the fund this month following the announcement that it would join the S&P500. Later in the month, Palantir was also awarded a $100M extension to its Maven Smart System contract with the US military. Shares of Robinhood contributed to the fund this month. Robinhood reported its August 2024 metrics this month, with equity trading volume increasing year-over-year. Key detractors for the month include Beam Therapeutics (BEAM), Moderna (MRNA) and Coinbase (COIN). Shares of Beam Therapeutics detracted from performance during this month following a broad market pull back in the genome space on no company specific news. Shares of Moderna detracted from performance this month after the company announced further revenue guidance reduction, cutting five early-stage pipelines and a delay in filing for its individualized neoantigen therapy for melanoma. Moderna also announced that Health Canada approved its updated COVID-19 vaccine, SpikeVAX, and entered a joint agreement with Cenra Healthcare to help market Moderna’s mRNA respiratory vaccine portfolio in Taiwan. Shares of Coinbase detracted from performance during the month as global digital assets exchange volumes were muted relative to August levels, despite digital asset prices rising modestly.