Commentary

As of 31 March 2026

Market Overview

  • Global equity markets had a tumultuous quarter with mixed outcomes as company earnings results, economic data, central bank moves and the outbreak of conflict in the Middle East all played a part.
  • The United States S&P 500 index declined 4.6%, the UK FTSE 100 index increased 2.5%, the Japanese Nikkei 225 gained 1.4%, the Australian ASX 200 index fell 1.6% and the MSCI World index ended the quarter down 2.6%.
  • The S&P/NZX 50 index lost 4.5%.

Fund Highlights

  • The fund ended the quarter down 5.7% and behind the index return.
  • It was a busy period for news flow as companies reported earnings results for the period ending December 2025.
  • Fisher & Paykel Healthcare announced an earnings guidance upgrade.
  • Contact Energy and Genesis Energy completed equity raisings to fund their pipelines of new electricity generation.
  • Contact raised $575 million while Genesis raised $400 million.
  • Overweight position Infratil and underweight positions Air New Zealand, Precinct Property added value. Overweight positions in Summerset, Ryman Healthcare and Stride detracted value.

Performance

GoalsGetter Amova SRI Equity Fund
Open Close

Performance

at 31 March 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -6.05 -5.76 3.56 2.69 1.55
Appropriate Market Index (AMI)2 -5.76 -4.49 5.95 3.59 1.33
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: S&P/NZX 50 Index Gross with Imputation Credits.

    The Amova KiwiSaver Scheme SRI Equity Fund transitioned from core strategy to SRI strategy in February 2022.

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

GoalsGetter KiwiSaver Scheme

Top 10 Holdings

Security Name Percentage
Fisher & Paykel Healthcare 15.91%
Infratil Limited 10.88%
Auckland International Airport Ltd 9.10%
Contact Energy Limited 7.08%
Meridian Energy Ltd NPV 6.70%
The A2 Milk Company Limited 5.94%
EBOS Group Limited 4.45%
Spark New Zealand Ltd 4.21%
NZD BNP Paribas A/C 3.96%
Mainfreight Limited 3.86%