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| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -5.88% | 6.94% | 37.34% | 35.48% | -2.28% |
| Appropriate Market Index (AMI)2 | -1.93% | 11.84% | 26.03% | 32.67% | 21.14% |
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 | 8.98% |
| Robinhood Markets Inc | 5.83% |
| Coinbase Global Inc | 5.26% |
| Tempus Ai Inc | 5.14% |
| Shopify Inc | 4.82% |
| Roku Inc | 4.30% |
| Roblox Corp | 3.90% |
| Palantir Technologies Inc | 3.83% |
| NZD BNP Paribas A/C | 3.80% |
| Advanced Micro Devices Inc. | 3.26% |
Commentary
As of 30 November 2025
Market Overview
− Broad-based global equity indexes pushed higher as markets weighed the trade-offs between tariffs, labour weakness, and geopolitical uncertainty versus deregulation, tax incentives, and Federal Fund Rate cuts.
− 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 -8.49% for the month, underperforming the benchmark.
− Key contributors for the month include 10x Genomics (TXG), Exact Sciences (EXAS), Veracyte (VCYT), Natera (NTRA), and GeneDx (CDNA).
− Key detractors for the month include Coinbase (COIN), Palantir (PLTR) and Robinhood (HOOD).