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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 | 1.25% | 3.36% | 6.72% | 7.40% | 3.02% |
| Appropriate Market Index (AMI)2 | 1.58% | 3.48% | 7.15% | 7.46% | 3.38% |
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 |
|---|---|
| JPM Global Select Equity X Acc USD | 4.68% |
| Life Cycle Concentrated Global Share Fund Class Z | 4.01% |
| Japan Treasury Disc Bill 151225 0.00 Gb | 2.42% |
| NZ Government 150541 1.75 GB | 1.81% |
| NZ Government 2.75% 15/04/2037 | 1.70% |
| NZ Government 150534 4.25 Gb | 1.67% |
| Belgium Treasury Certificates 131125 0.00 Gb | 1.37% |
| Federal National Mortgage Association 151043 0.0 Tba | 1.10% |
| French Discount T-Bill 101225 0.00 Gb | 1.03% |
| Japan Treasury Disc Bill 271025 0.00 Gb | 0.96% |
Commentary
As of 30 September 2025
Market Overview
Fund Commentary
The Conservative Fund posted a strong gain over both September and the third quarter of 2025, slightly behind the return of the benchmark in both cases. Relative performance was strong across all the defensive asset classes, while global equities underperformed on a relative basis, and the Concentrated Fund (Australasian equities) delivered strong outperformance. NZ bonds had a strong quarter with NZ interest rates lower following offshore moves, a weak 2nd quarter GDP print, and a dovish Monetary Policy Statement update from the RBNZ in August. The Bond fund’s long duration was positioned for this and was the main contributor to the strong relative performance. Global bond returns were solid for September and the quarter, but not as strong as NZ bonds.The Property Fund returned 14.9% for the 3 months, just ahead of the benchmark thanks to 20%+ returns from Stride Property and Kiwi Property. The Multi-Manager Global Equity Fund underperformed over the month and quarter with three of the four managers trailing the strong absolute returns of the benchmark. WCM (‘growth’ style) was the standout manager with strong returns from AppLovin and Sea Ltd. Quality stocks underperformed over the quarter which was a head-wind for the fund. The Concentrated Fund’s outperformance was led by positions in NextDC, Worley and Infratil following strong earnings seasons, and positive outlook statements.