Commentary

As of 31 January 2026

Market Overview
  • Global equity markets began the new year with strong returns despite continued geo-political tensions.
  • Emerging markets were the stand-out performer, benefiting from strong local market returns in Brazil, South Korea and Taiwan.
  • Global bonds were slightly positive for the month, with continued speculation around the next Chair for the US Federal Reserve.
  • Sector leadership for the first month of 2026 came from the cyclical energy and materials sectors, while information technology took a back seat for once, finishing near the bottom of the rankings.
Fund Highlights
  • Returns for the Balanced Fund were negative for January.
  • The stronger NZ dollar meant unhedged global equity returns were weak, and the local listed property market also had a tough start to the year after a strong 2025.
  • Across the global equity managers, WCM was the only one to outperform the benchmark.
  • The strongest performers in the local equity funds were all Australian names; Worley, NextDC and ResMed.

Performance

GoalsGetter Amova Balanced Fund
Open Close

Performance

at 31 January 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -0.67% -1.41% 4.95% 8.78% 3.33%
Appropriate Market Index (AMI)2 -0.33% -0.46% 8.93% 10.47% 5.72%
  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 11.48%
Infratil Limited 1.74%
Nvidia Corp 1.53%
NZD BNP Paribas A/C 1.43%
Fisher & Paykel Healthcare 1.32%
Kiwi Property Group Limited 1.28%
Amazon Com Inc 1.23%
Spark New Zealand Ltd 1.17%
Summerset Group Holdings Ltd 1.17%
Contact Energy Limited 1.15%