Commentary

As of 31 January 2026

Market Overview
  • Global equity markets began the new year with strong returns despite continued geo-political tensions.
  • Emerging markets were the stand-out performer, benefiting from strong local market returns in Brazil, South Korea and Taiwan.
  • Global bonds were slightly positive for the month, with continued speculation around the next Chair for the US Federal Reserve.
  • Sector leadership for the first month of 2026 came from the cyclical energy and materials sectors, while information technology took a back seat for once, finishing near the bottom of the rankings.
Fund Highlights
  • Returns for the Growth Fund were negative for January. 
  • The stronger NZ dollar meant unhedged global equity returns were weak, and the local listed property market also had a tough start to the year after a strong 2025.
  • Across the global equity managers, WCM was the only one to outperform the benchmark.
  • The strongest performers in the local equity funds were all Australian names; Worley, NextDC and ResMed.

Performance

GoalsGetter Amova Growth Fund
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Performance

at 31 January 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -0.83% -1.62% 4.81% 10.29% 4.02%
Appropriate Market Index (AMI)2 -0.40% -0.43% 10.24% 12.66% 7.57%
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: Composite - refer to the GoalsGetter KiwiSaver Scheme SIPO

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 14.90%
Infratil Limited 2.30%
NZD BNP Paribas A/C 2.06%
Nvidia Corp 1.99%
Fisher & Paykel Healthcare 1.76%
Amazon Com Inc 1.59%
Spark New Zealand Ltd 1.54%
Summerset Group Holdings Ltd 1.52%
Contact Energy Limited 1.52%
Kiwi Property Group Limited 1.52%