Commentary

As of 31 May 2026

Market Overview

  • Following a very strong April, global equity markets remained constructive in May on anticipation an enduring peace deal in the Middle East would eventually be made.
  • Oil prices fell sharply to well below U$100 per barrel and a number of regional or national equity markets reached new all-time highs.
  • The MSCI ACWI (NZD Hedged) was up 5.1% for the month, and is up over 28% on a rolling 1-year basis.
  • Global bonds delivered a solid return (+0.5% hedged to NZD) with credit spreads tightening on optimism of an end to the Middle East conflict.
  • NZ bonds comfortably outperformed global with a 1.3% return.

 

Fund Highlights

  • Returns for the Balanced Fund were strong over May, but underperformed the benchmark.
  • The main defensive asset classes of bonds and cash posted solid returns over the month, with New Zealand bonds doing particularly well.
  • Global and local equities also delivered strong results as did Australasian Property.
  • In Australasian property, Goodman Group continued its recent strong momentum, rising 7% following its quarterly update

 

Performance

GoalsGetter Amova Balanced Fund
Open Close

Performance

at 31 May 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 2.04 0.68 7.98 8.57 3.44
Appropriate Market Index (AMI)2 2.55 2.05 13.92 10.95 6.11
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: Composite - refer to the GoalsGetter KiwiSaver Scheme SIPO

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.  

5 year cumulative performance $10,000 invested

Top 10 Holdings

Security Name Percentage
Life Cycle Concentrated Global Share Fund Class Z 12.10%
Infratil Limited 2.18%
Nvidia Corp 1.67%
Amazon Com Inc 1.44%
Fisher & Paykel Healthcare 1.36%
Contact Energy Limited 1.33%
Microsoft Corp 1.26%
Kiwi Property Group Limited 1.24%
USD BNP Paribas A/C 1.23%
Meridian Energy Ltd NPV 1.22%