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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)
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.
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.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -1.15% | -1.10% | 7.91% | 19.17% | 12.13% |
| Appropriate Market Index (AMI)2 | 0.87% | 4.30% | 19.19% | 24.54% | 16.31% |
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 |
|---|---|
| Nvidia Corp | 6.53% |
| Microsoft Corp | 6.26% |
| Amazon Com Inc | 5.29% |
| Broadcom Corp Com | 3.51% |
| Intesa Sanpaolo Spa | 2.94% |
| Sony Corp Y50 | 2.92% |
| HDFC Bank Ltd | 2.72% |
| Criteria Caixacorp Sa | 2.69% |
| Netflix Inc | 2.49% |
| Dbs Group Holdings Ltd | 2.45% |
Commentary
As of 31 December 2025
Market Overview
− Global equities were supported in Q4 by resilient economic data, strong AI-related capital expenditure that contributed materially to growth and expectations of one to two Federal Reserve rate cuts in 2026, following the three cuts of 0.25% in September, October and December.
− Emerging Markets equities delivered a 5.80% return in Q4, driven by growth in China and India.
− Sector rotation was notable over the quarter, with a shift away from concentrated AIdriven gains toward broader participation.
Fund Highlights
− The fund returned -1.67% for the quarter, underperforming the benchmark which returned 3.38%.
− Positive contributors to performance included CaixaBank, Intesa Sanpaolo, First Citizens BancShares, Danaher Corporation’s, Hitachi and Amphenol Corporation.
− While the fund’s 5% relative underperformance for the quarter was partly a function of the headwinds facing quality investors, it also reflected stock‑specific issues such as Netflix’s move to acquire Warner Brothers. However, the biggest driver of underperformance was being on the wrong side of Alphabet Inc.’s surge in the second half of 2025.
− Negative contributors to performance included Netflix, Rakuten Bank and Uber Technologies.