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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 | 9.41% | 35.03% | 63.55% | 21.11% | |
| Appropriate Market Index (AMI)2 | 5.77% | 19.49% | 21.53% | 24.73% |
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 | 8.75% |
| Coinbase Global Inc | 7.75% |
| Roblox Corp | 7.31% |
| Robinhood Markets Inc | 5.59% |
| Roku Inc | 5.35% |
| Palantir Technologies Inc | 4.83% |
| Shopify Inc | 4.52% |
| Tempus Ai Inc | 3.64% |
| Advanced Micro Devices | 3.33% |
| Meta Platforms Inc | 2.62% |
Commentary
As of 31 July 2025
Key contributors for the month include Roblox (RBLX), Coinbase (COIN) and Palantir (PLTR).
Shares of Roblox contributed to the fund this month, following the launch of its new self-serve licensing platform, which enabled creators to legally incorporate blockbuster franchises into their Roblox experiences. Shares of Coinbase contributed to fund performance through the month of July. This rise was fuelled by strong crypto asset performance. Additionally, Coinbase announced several positive updates: a strategic partnership with a large U.S. bank to facilitate easier crypto purchases, the launch of the Base app, and the launch of CFTC-regulated perpetual futures. Shares of Palantir Technologies contributed to fund performance this month following a significant stock surge, reaching a record high driven by the continued success of its commercial AI business.
Key detractors for the month include Tempus AI (TEM), Spotify (SPOT) and Natera (NTRA).
Shares of Tempus AI contributed to fund performance this month following the announcement of FDA 510(k) clearance for its Tempus ECG-Low EF software, enhancing its credibility in the healthcare technology sector. However, the stock faced a decline attributed to ongoing class action lawsuits and concerns over unethical billing practices, which have raised scrutiny around the company's financial reporting and operational integrity. Shares of Spotify detracted from the fund this month. Spotify reported second quarter earnings with monthly active user growth year-over-year. However, management's guidance for revenue and gross margins in the third quarter missed Wall Street expectations, due to foreign exchange headwinds. Shares of Natera detracted from fund performance this month on no company-specific news, though there was a sell-off in biotech names generally during the month.