Commentary

As of 31 October 2025

Market Overview

  • Global equities continued the recent strong performance with another month where all key markets posted positive returns, assisted by rate cuts and corporate earnings results.
  • The United States S&P 500 index rose 2.3%, the Japanese Nikkei 225 jumped 16.6%, the UK FTSE 100 index added 3.9%, the Australian ASX 200 index gained 0.4% and the MSCI World index ended the month up 2.8% (in local terms).
  • The S&P/NZX 50 index ended the month up 1.9%.

Fund Highlights

  • The fund ended the month up 2.3%, 0.3% ahead of the index return.
  • Retirement village operators Summerset and Ryman Healthcare delivered strong sales updates for the September quarter, indicating continued sector momentum
  • Precinct Properties conducted a $310m capital raising to help fund property developments.
  • A foreign currency hedge was added to the fund during the month.
  • Overweight positions Sky Television and Summerset, and underweight (nil holding) Precinct Properties added value. Overweight positions Next DC, Resmed,, and underweight (nil holding) Skellerup detracted value.

Performance

GoalsGetter Amova SRI Equity Fund
Open Close

Performance

at 31 October 2025
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 2.18% 6.12% 6.69% 7.19% 3.56%
Appropriate Market Index (AMI)2 1.93% 5.95% 7.95% 6.96% 3.10%
  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 14.78%
Infratil Limited 10.83%
Auckland International Airport Ltd 9.50%
Contact Energy Limited 6.53%
Meridian Energy Ltd NPV 6.42%
Spark New Zealand Ltd 5.27%
The A2 Milk Company Limited 4.81%
EBOS Group Limited 4.25%
Summerset Group Holdings Ltd 3.71%
Mainfreight Limited 3.49%