Single Sector Fund
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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 | 2.44% | -10.77% | 2.94% | -25.25% | |
| Appropriate Market Index (AMI)2 | 6.96% | 5.93% | 31.36% | 16.36% |
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.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 2.45% | -10.87% | 2.96% | -25.35% | |
| Appropriate Market Index (AMI)2 | 6.96% | 5.93% | 31.36% | 16.36% |
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 | 9.15% |
| Coinbase Global Inc | 6.56% |
| Roku Inc | 6.25% |
| Roblox Corp | 5.28% |
| Block Inc | 5.19% |
| Robinhood Markets Inc | 5.10% |
| Palantir Technologies Inc | 4.54% |
| Zoom Video Communications Inc | 3.78% |
| Shopify Inc | 3.77% |
| Meta Platforms Inc | 3.53% |
Commentary
As of 30 June 2024
Market Highlights
Key contributors for the month include Tesla (TSLA), Palantir (PLTR) and Roblox (RBLX).
Shares of Tesla contributed to performance during the month on the back of several pieces of company-specific news. Some notable events include shareholders re-approving Elon Musk's 2018 pay package during the annual shareholder meeting. Tesla released Full-Self-Driving (FSD) v12.4 to limited customers, removing the steering wheel nag and enabling limited hands-free rides. Additionally, Tesla reportedly began testing FSD in China and announced that two Optimus humanoid robots are now working autonomously in the factory. Palantir contributed positively to the fund this month. At the end of May, it was reported that Palantir won an additional $480M contract with the Department of Defence. It was also announced that Palantir would supply data management solutions for Starlab, a commercial space station. Roblox contributed positively to the fund this month after a sell-off following its first-quarter earnings results. Additionally, management has hinted at experimenting with AI creation tools for developers.
Key detractors for the month include 10X Genomics (TXG), Moderna (MRNA) and Unity Software (U).
10X genomics was a detractor to the fund this month, despite beginning the commercial shipment of its new Xenium Prime 5K Pan-Tissue and Pathways panel, which features new enhancements. Moderna detracted from the fund this month after its RSV vaccine proved about 50% effective after 18 months, trailing rival shots. Moreover, at the ASCO conference, Moderna presented encouraging data showing its mRNA-4157 vaccine in combination with Merk’s KEYTRUDA, reduced the risk of cancer spreading or death in high-risk melanoma patients. Unity was a detractor this month as the stock continued to decline given the recent management turnover. Despite management turnover, Unity remains the premier game engine for developers.