Diversified Funds

GoalsGetter Nikko AM Balanced Fund

About the fund

This fund aims for a steady investment return over the medium to longer term without too many ups and downs. The fund does this by investing across a range asset classes with  exposure to shares for growth complemented by exposure to bonds and alternatives to reduce volatility.

Growth Fund Strategic Asset Allocation

Risk Indicator (volatility)

4 Medium to High

Target Asset Allocation

Growth 59.00%
Income 36.00%
Other 5.00%


As of 30 June 2024

Market Highlights

  • Global equity markets performed strongly for a second straight month in June, to close what began as a volatile quarter on a positive note.
  • Bond markets also posted a second straight month of gains after a difficult start to the year where interest rates moved higher as expectations for major central banks to start cutting rates were pushed back to later in 2024.
  • The main economic development data was an improvement in the inflation data indicating that disinflation is resuming its course in the US, UK, and Europe.

The Balanced Fund registered a small fall in the second quarter of 2024, with relative returns behind that of the benchmark. The ARK fund was the main detractor over the quarter (-10%) but the strategy did post a solid +4.4% return in June with names including Tesla, Palantir and Roblox rallying. The Global Share Fund was slightly ahead of benchmark for the quarter. Names that have benefited from the huge amount of interest in AI infrastructure continued to do well, and the portfolios positioning in Nvidia, Taiwan Semiconductor and Broadcom benefited from these names performing strongly. Companies in the more traditional sectors of finance, Consumer and Energy were the main detractors, led by PT Bank Mandiri, Samsonite and Schlumberger. The local equity and property funds were weak over the quarter on an absolute basis, but pleasingly outperformed their relevant market indices. Both the NZ and global bond portfolios added value over both the month and the quarter, with 1-year numbers also comfortably ahead of benchmark. The New Zealand bond funds increased their overweight to duration as interest rates moved higher in April, and this positioning was rewarded in May and June when they fell back to near where they began. The main positive drivers of relative return for the global bond fund were country and corporate bond selection, while the overweight to US duration detracted.


GoalsGetter KiwiSaver Scheme
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at 30 June 2024
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 1.64% -0.19% 9.10% 0.09% 3.63%
Appropriate Market Index (AMI)2 1.02% 0.09% 8.99% 2.33% 5.32%
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: Composite - refer to Nikko AM NZ Investment Scheme OMI.

5 year cumulative performance $10,000 invested

Top 10 Holdings

Security Name Percentage
JPM Multi Manager Alternatives X Acc NZD Hedged 4.68%
Microsoft Corp 2.28%
Infratil Limited 2.16%
Nvidia Corp 2.13%
Fisher & Paykel Healthcare 1.96%
Amazon Com Inc 1.66%
Contact Energy Limited 1.64%
Spark New Zealand Ltd 1.48%
Meta Platforms Inc 1.33%
NZ Government 150534 4.25 Gb 1.32%