Single Sector Fund
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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 George Carter, former Managing Director of Nikko AM. In this video, he explains what an average day in his job looks like and how Diversified Funds work. George also talks us through the investment process and details the main reasons why you should consider a Diversified Fund for your next investment.
One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
---|---|---|---|---|---|
Fund performance1 | 0.33% | 3.60% | 6.55% | 0.39% | 2.80% |
Appropriate Market Index (AMI)2 | 0.26% | 3.11% | 6.77% | 0.93% | 3.12% |
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.
One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
---|---|---|---|---|---|
Fund performance1 | 0.34% | 3.60% | 6.60% | 0.42% | 2.82% |
Appropriate Market Index (AMI)2 | 0.26% | 3.11% | 6.77% | 0.93% | 3.12% |
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 |
---|---|
NZ Government 2.75% 15/04/2037 | 2.92% |
NZ Government 150534 4.25 Gb | 1.84% |
Housing NZ 1.534% 10/09/2035 | 1.31% |
Rabobank Nederla 160326 Frn | 1.13% |
Westpac New Zealand 060726 Frn | 1.09% |
NZ Local Govt Funding Agency 150437 2.00 GB | 1.04% |
Goodman Property Trust | 0.94% |
NZ Govt Inflation Index Bond 20/09/25 | 0.92% |
Microsoft Corp | 0.91% |
Mufg Bank Ltd Auckland Branch 241126 Frn | 0.90% |
Commentary
As of 29 February 2024
Market Highlights
February fund performance was strong in terms of both absolute return and relative returns. Global shares were the main contributor for both absolute and relative returns. Outperformance from the global shares portfolio was driven by positive stock selection in a range of sectors including Info Tech (Nvidia), Communications Services (Meta), and Financials (Palomar and Ryan Speciality). There was some weakness from the consumer discretionary names across the portfolio, with Sony Group, Amadeus IT, Compass and Bookings.com all underperforming the broader market. The NZ equity funds within the portfolio continued their solid start for the year, outperforming the NZX50 Index. Strong performance from NextDC, Ingenia Communities and Fisher & Paykel Healthcare were key drivers. Local and global bond Funds were in line with, or slightly behind, their respective benchmarks.