Our Managed Funds

Amova Global Equity Multi-Manager Unhedged Fund

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About the fund

The Multi-Manager global equity strategy has four underlying managers. These managers select  companies from around the world covering a diverse range of regions and sectors.  The result is a portfolio that holds around 150-170 companies.

The appointed global managers  are responsible for the investment management of the assets, with the over all multi-manager global equity strategy managed by Yarra Capital Management.
 

Risk Indicator (volatility)

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5 High
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Target Asset Allocation

Growth 100.00%

Risk Indicator (volatility) Scale

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.

Commentary

As of 30 June 2026

Market Overview

  • Q2 2026 saw the strongest quarterly return for global equities since the Q2 2020 Covid rebound.
  • Following the drawdown in March on the Middle East conflict, the global equity market rebounded strongly in April on increasing prospects for a truce or de-escalation. While a long-term truce was not agreed, and hostilities occasionally increased, equity markets continued to perform strongly for the remainder of the quarter.
  • First quarter earnings season delivered strong earnings growth in most regional markets around the world.
  • The ongoing build-out of artificial intelligence infrastructure remained a key theme.

Fund Highlights

  • For the quarter, the fund returned 13.4%, lagging the benchmark which returned 15.3%.
  • WCM was the standout manager with some of their holdings in the AI infrastructure space benefiting from the increasing capex commitments. Amova (quality growth) and both style-neutral managers (Life Cycle and JPMorgan) all underperformed the benchmark.

Performance

Amova Global Equity Multi-Manager Unhedged Fund
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Performance

at 30 June 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 4.50 15.43 18.17 19.58 14.40
Appropriate Market Index (AMI)2 4.40 15.25 31.98 22.70 15.64
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: MSCI All Countries World Index (net dividends reinvested), expressed in NZD (unhedged).

     

 

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 30.25%
Nvidia Corp 4.07%
Amazon Com Inc 3.10%
Microsoft Corp 2.50%
USD BNP Paribas A/C 1.73%
Mastercard Inc - Class A 1.55%
Alphabet Inc Cap Stk Usd0.001 Cl A 1.47%
Taiwan Semicon Manufacturing Co Ltd 1.37%
Broadcom Corp Com 1.27%
Sk Square Co Ltd 1.18%