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 Conservative Fund were negative in January.
  • NZ bonds were down slightly to start the new year as interest rates continued to drift higher.
  • Global bonds fared slightly better with a positive return, and the fund posted returns just ahead of benchmark.
  • The strongest performers in the local equity funds were all Australian names; Worley, NextDC and ResMed.

Performance

GoalsGetter Amova Conservative Fund
Open Close

Performance

at 31 January 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -0.28% -0.79% 4.51% 6.17% 2.33%
Appropriate Market Index (AMI)2 -0.15% -0.42% 5.82% 6.59% 2.95%
  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 3.97%
Japan Treasury Disc Bill 130426 0.00 Gb 2.09%
Federal National Mortgage Association 150244 0.00 Tba 1.87%
NZ Government 150541 1.75 GB 1.62%
NZ Government 2.75% 15/04/2037 1.56%
United States Treasury 300426 0.00 Cb 1.54%
French Discount T-Bill 040326 0.00 Gb 1.45%
NZD BNP Paribas A/C 1.44%
NZ Government Bond 2% 15/05/2032 1.37%
USD BNP Paribas A/C 1.28%