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)

Lower riskHigher risk
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5 High
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lower returnsPotentially
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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 31 July 2026

Market Overview

  • Following a very strong second quarter, global equity markets took a pause over July as the USA-Iran peace deal unravelled mid-month and the conflict re-escalated.
  • Sector leadership saw a sharp reversal from recent periods with Information Technology lagging all others on the back of extreme weakness in the previously high-flying semiconductor companies and other AI-infrastructure beneficiaries.
  • Energy and Financials were the strongest sectors which meant ‘value’ stocks outperformed ‘growth’ stocks by a significant margin.

Fund Highlights

  • The fund returned -2.0% for the month, outperforming the benchmark which returned -3.1%.
  • Of the underlying managers, Amova (+3.8% relative) was the stand-out while Life Cycle and JP Morgan were both ahead of benchmark by 1.8% and 1.4% respectively. Growth manager WCM underperformed by 2.9%.

Performance

Amova Global Equity Multi-Manager Unhedged Fund
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Performance

at 31 July 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -3.15 3.13 10.23 17.71 13.05
Appropriate Market Index (AMI)2 -3.13 4.59 22.67 20.59 14.73
  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 30.39%
Nvidia Corp 4.07%
Amazon Com Inc 3.46%
Microsoft Corp 3.07%
NZD BNP Paribas A/C 1.76%
Mastercard Inc - Class A 1.65%
Alphabet Inc Cap Stk Usd0.001 Cl A 1.44%
Taiwan Semicon Manufacturing Co Ltd 1.34%
Broadcom Corp Com 1.17%
Apple Inc 1.04%