Commentary

As of 31 October 2025

Market Overview

  • Corporate earnings season was a positive driver of market sentiment over October, with US companies again the standout.
  • A number of regional or national equity markets made new all-time highs on the back of another solid quarterly earnings season and more rate cuts from the US
    Federal Reserve and other central banks.
  • Japanese equities delivered the strongest return due in part to the unexpected victory of Sanae Takaichi in the Liberal Democratic Party leadership election
    early in the month.

 

Fund Highlights

  • Returns for the Conservative Fund were strong in October, with all of the underlying strategies posting positive returns.
  • NZ bonds delivered strong returns with interest rates moving lower over October.
  • The Global Bond Fund outperformed due to an overweight allocation to UK rates, and off-setting underweight positions to US, Japanese and European rates.

Performance

GoalsGetter Amova Conservative Fund
Open Close

Performance

at 31 October 2025
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 0.84% 3.23% 7.38% 7.35% 2.98%
Appropriate Market Index (AMI)2 1.03% 3.63% 8.38% 7.61% 3.54%
  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
JPM Global Select Equity X Acc USD 4.39%
Life Cycle Concentrated Global Share Fund Class Z 3.97%
Federal National Mortgage Association 151143 0.00 Tba 2.37%
Japan Treasury Disc Bill 151225 0.00 Gb 2.32%
NZ Government 150541 1.75 GB 1.79%
NZ Government 2.75% 15/04/2037 1.65%
NZ Government 150534 4.25 Gb 1.65%
United Staes Treasury Bill 290126 0.00 Gb 1.60%
Federal National Mortgae Association 151143 0.0 Tba 1.43%
Japan Treasury Disc Bill 130126 0.00 Gb 1.20%