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This fund provides access to a global share portfolio that offers thematic exposure to disruptive innovation across a number of sectors and geographies.
Disruptive innovation is caused by the introduction of new technologically enabled products or services that permanently change an industry or economic sector by providing greater simplicity, accuracy, customisation and accessibility while driving down costs.
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.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 19.98% | 35.71% | 33.12% | -12.29% | 5.63% |
| Appropriate Market Index (AMI)2 | 6.00% | 12.75% | 37.11% | 14.93% | 22.68% |
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.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 20.13% | 35.97% | 33.25% | -12.36% | |
| Appropriate Market Index (AMI)2 | 6.00% | 12.75% | 37.11% | 14.93% |
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 |
|---|---|
| Tesla Motors Inc | 8.90% |
| Roblox Corp | 7.25% |
| Palantir Technologies Inc | 6.70% |
| Coinbase Global Inc | 6.55% |
| Roku Inc | 6.35% |
| Block Inc | 4.81% |
| Shopify Inc | 4.58% |
| Meta Platforms Inc | 4.25% |
| Robinhood Markets Inc | 4.14% |
| Draftkings Inc | 2.85% |
Commentary
As of 30 November 2024
Market Overview
Fund Commentary
Key contributors for the month include Coinbase (COIN), Palantir (PLTR) and Tesla (TSLA).
Shares of Coinbase contributed to the fund this month, following Donald Trump's victory in the 2024 U.S. Presidential election and a broader surge in cryptocurrency markets with Bitcoin in particular reaching a new all-time high. Investors believe that Trump's pro-crypto stance will create a more favourable regulatory environment for cryptocurrency-related companies. Shares of Palantir Technologies contributed to fund performance this month after the company reported third-quarter earnings. Topline revenue growth continued to accelerate, driven by continued strength in U.S. Commercial revenue, and unexpected strength in U.S. Government revenue compared to last quarter. The company announced plans to relist on the Nasdaq exchange, which could potentially lead to further gains, and it revealed a partnership with two of the top companies in the industry to provide AI models to U.S. intelligence and defence agencies. Shares of Tesla contributed to performance during the month after the US election results prompted several stock upgrades from Wall St. analysts, citing Elon Musk's involvement in the new administration as a tailwind for Tesla. Specifically, analysts speculate that autonomous vehicle regulation may shift from state to federal level, potentially accelerating Tesla's autonomous ride-hail rollout, which is planned for initial deployment in California and Texas next year.
Key detractors for the month include Roblox (RBLX), Exact Sciences (EXAS) and Pinterest (PINS).
Shares of Roblox detracted from fund performance this month despite various positive events, The company's mixed performance was influenced by updates to its safety systems and parental controls, as well as an upgrade from an analyst, suggesting the game platform's shares could more than double. Shares of Exact Sciences detracted from performance this month after the company reported third-quarter earnings and lowered full-year revenue guidance, citing lower-than-expected growth in the frequency of Cologuard testing. That said, total revenue and adjusted EBITDA increased year-over-year. Shares of Pinterest detracted from fund performance this month after the company reported fourth-quarter guidance that was below analysts’ estimates.