GoalsGetter Amova Global Shares Fund

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Commentary

As of 28 February 2026

Market Overview

Global equities delivered a mixed yet generally positive performance in February 2026, demonstrating resilience amid ongoing geopolitical tensions and sector rotation.
Overall, global equity markets continued their solid upward trend from the ‘Liberation Day’ drawdown, with leadership broadening beyond US mega-caps.
Non-US markets, including Japan, UK, Korea, and Taiwan, outperformed the US, supported by earnings recovery and fiscal support.
In terms of a big picture view, “old economy” stocks, cyclicals and commodities beat US mega-cap growth and internet stocks.

Fund Highlights

The fund returned -2.86% for the month, underperforming the benchmark which returned 2.10%.
Positive contributors to performance over the month included Coca-Cola Europacific Partners (CCEP), Netflix and Encompass Health Corporation.
February saw a sharp market rotation away from growth and “Future Quality” stocks toward value and cyclicals which created a difficult environment for the fund’s investment style.
Negative contributors to performance included IQVIA Holdings, Amazon.com and Rakuten Bank.

GoalsGetter Amova Global Shares Fund

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at 28 February 2026

	One month	Three months	One year	Three years (p.a)	Five years (p.a)
Fund performance¹	-3.25	-8.80	-1.71	13.94	10.47
Appropriate Market Index (AMI)²	2.10	0.81	15.97	22.02	16.09

Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
AMI:MSCI ACWI, with net dividends reinvested unhedged in NZD.