Our KiwiSaver Scheme Funds

GoalsGetter Amova Global Shares Fund

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About the fund

The Amova Europe team manages this fund, investing in a selection of around 40-50 companies from around the world, covering a diverse range of regions and sectors. The  manager selects companies where they believe there is potential for quality and future value.

 

Risk Indicator (volatility)

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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.

Find out more about the Global Shares Fund from Iain Fulton

Iain is a Portfolio Manager within the Global Equity Team based in Edinburgh. In this video, Ian explains his global investment philosophy, the objectives of this portfolio, and the concept of future quality. Iain also talks us through the long term focus on sustainability and what's personally satisfying about doing what he does. Find out more about the GoalsGetter Global Shares Fund from Iain Fulton in the video now.

Commentary

As of 31 October 2025

Market Overview

  • US consumer price index (CPI) data for September offered reassurance to markets that the US Federal Reserve is on track to cut interest rates in December - monthly price increases were below August’s pace, while annual readings came in lower than expected.
  • Japan’s Nikkei 225 crossed 50,000 for the first time during the last week of October.
  • Companies that represent about 25% of the S&P 500’s market capitalization have reported their Q3 earnings, and the results have been good.
  • Strong demand for computational resources should underpin robust AI capital spending.

Fund Highlights

  • The fund returned 0.64% for the month, underperforming its benchmark which returned 2.73%.
  • The common thread among other underperformers wasn’t poor results, quite the opposite. It was the quieter impact of the AI juggernaut. As anti-AI narratives gained traction, perceived losers were derated.
  • Positive contributors to performance included Hitachi Ltd, Bio-Techne Corporation and Amphenol Corporation.
  • Negative contributors to performance included Meta Platforms Inc, Intercontinental Exchange Inc and Linde plc.

Performance

GoalsGetter Amova Global Shares Fund
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Performance

at 31 October 2025
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 1.10% 3.05% 17.70% 18.05% 13.97%
Appropriate Market Index (AMI)2 3.66% 11.91% 27.46% 22.22% 17.94%
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: MSCI ACWI, with net dividends reinvested unhedged in NZD.

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
Nvidia Corp 6.81%
Microsoft Corp 6.44%
Amazon Com Inc 5.38%
Broadcom Corp Com 3.86%
Meta Platforms Inc 3.85%
Netflix Inc 2.85%
Uber Technologies Inc 2.64%
Intesa Sanpaolo Spa 2.61%
HDFC Bank Ltd 2.59%
Sony Corp Y50 2.57%