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This fund aims for more modest investment returns which grow steadily over time, keeping ups and downs to a minimum. The fund does this by investing mostly in bonds and cash, but also has a moderate exposure to shares.
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.
Hear from Alan Clarke, Portfolio Manager. In this video, he explains what an average day in his job looks like and how the GoalsGetter Amova Conservative Fund works.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -0.52% | 1.61% | 5.74% | 6.88% | 2.65% |
| Appropriate Market Index (AMI)2 | -0.30% | 2.32% | 6.63% | 7.01% | 3.13% |
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 |
|---|---|
| Life Cycle Concentrated Global Share Fund Class Z | 4.23% |
| Japan Treasury Disc Bill 151225 0.00 Gb | 2.27% |
| NZ Government 150541 1.75 GB | 1.72% |
| Federal National Mortgage Association 151242 0.0 Tba | 1.67% |
| USD BNP Paribas A/C | 1.62% |
| NZ Government 2.75% 15/04/2037 | 1.62% |
| United Staes Treasury Bill 290126 0.00 Gb | 1.59% |
| NZ Government 150534 4.25 Gb | 1.58% |
| Japan Treasury Disc Bill 130126 0.00 Gb | 1.18% |
| Federal National Mortgage Association 151242 0.00 Tba | 1.08% |
Commentary
As of 30 November 2025
Market Overview
− Global markets took a breather in November, with both equities and bonds finishing the month close to where they started.
− For global equities November was the first flattish month since the turmoil in April from the “Liberation Day” tariff announcements.
− Global bonds were flat for the month led by US bonds which did well on expectations the US Fed would continue cutting rates.
− The central banks in Japan, Australia and the UK all kept rates unchanged, with the RBA and BoJ citing concerns around inflation.
Fund Highlights
− Returns for the Conservative Fund were negative in November.
− Local equity, listed property, and bond markets were all weak, and the Global Equity Fund underperformed its benchmark.
− The Global Bond Fund posted positive gains ahead of benchmark due to being positioned to benefit from steeper yield curves in Europe.