Other Funds
On this page:
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 | 10.66% | 0.81% | 43.65% | 14.34% | |
| Appropriate Market Index (AMI)2 | 8.54% | -3.92% | 19.13% | 23.38% |
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 | 8.93% |
| Roblox Corp | 8.33% |
| Coinbase Global Inc | 7.91% |
| Palantir Technologies Inc | 6.75% |
| Roku Inc | 5.36% |
| Robinhood Markets Inc | 4.73% |
| Shopify Inc | 4.57% |
| Tempus Ai Inc | 4.07% |
| Meta Platforms Inc | 3.11% |
| Amazon Com Inc | 2.56% |
Commentary
As of 31 May 2025
Market Overview
Fund Commentary
Key contributors for the month include Roblox (RBLX), Tesla (TSLA) and Robinhood (HOOD).
Shares of Roblox contributed to the fund this month. The company reported first quarter earnings, including revenue growth year-over-year and Bookings growth year-over-year that beat analysts' expectations. The company also raised its annual guidance for this year. Shares of Tesla contributed to performance during the month as Elon re-focused on accelerating growth through his companies, stepping back from government involvement. Tesla highlighted its AI progress with new videos of Optimus dancing and completing practical tasks, while also strengthening its leadership with the appointment of Jack Hartung to the Board. Separately, it was reported that Tesla may launch robotaxi operations in Austin on June 12, with Musk confirming several days of incident-free testing of driverless Model Ys in the city. Shares of Robinhood contributed to the fund’s performance during the month following the company’s strong first quarter earnings report, which showed a year-over-year revenue increase and a rise in net income. The stock also gained after Robinhood announced its acquisition of crypto exchange Bitstamp, expanding its global crypto services and institutional client base. Additionally, increased trading activity amid market volatility contributed to the company's robust performance.
Key detractors for the month include Beam Therapeutics (BEAM), Twist Bioscience (TWST) and Recursion (RXRX).
Shares of Beam Therapeutics detracted from fund performance this month following first quarter earnings results. Despite this, Beam reported several notable regulatory milestones in May, including FDA Orphan Drug and Regenerative Medicine Advanced Therapy designations for BEAM-302, an in vivo base editing therapy for alpha-1 antitrypsin deficiency. Additionally, the company received Orphan Drug Designation for BEAM-101, its ex vivo base editing candidate for sickle cell disease. Shares of Twist Bioscience detracted from fund performance this month following the announcement of the spinout of its DNA data storage technology into a new company, Atlas Data Storage, which secured significant seed financing; despite this spinout, Twist still retains the ability to use the technology internally. Although the company reported year‐over‐year revenue growth and improved gross margins, the stock faced downward pressure amid concerns over the strategic shift and its implications for the company’s focus on core business areas. Shares of Recursion Pharmaceuticals detracted from fund performance this month. Recursion provided a business update and decision to trim its pipeline, cutting three clinical programs, pausing one clinical candidate, and discontinuing a preclinical effort. This reflects a positive strategic focus on higher-confidence assets, with these discontinued programs stemming from earlier iterations of their platform and underscoring their evolution toward more robust, validated pipeline candidates.