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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 | 4.40% | 35.09% | 25.18% | -7.86% | 7.56% |
| Appropriate Market Index (AMI)2 | 6.34% | 19.50% | 42.42% | 17.08% | 24.45% |
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 | 4.40% | 35.31% | 25.21% | -7.92% | |
| Appropriate Market Index (AMI)2 | 6.34% | 19.50% | 42.42% | 17.08% |
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 | 8.47% |
| Palantir Technologies Inc | 8.17% |
| Coinbase Global Inc | 7.00% |
| Roblox Corp | 6.11% |
| Roku Inc | 6.02% |
| Robinhood Markets Inc | 4.65% |
| Shopify Inc | 4.42% |
| Block Inc | 4.04% |
| Meta Platforms Inc | 3.77% |
| Teradyne Inc | 2.76% |
Commentary
As of 31 December 2024
Fund Commentary
Key contributors for the month include Tesla (TSLA), Palantir (PLTR) and Roblox (RBLX).
Shares of Tesla contributed to the fund's performance this month, driven by strong year-to-date gains and the achievement of an all-time high share price, bolstered by continued momentum following the U.S. election results. The rollout of Tesla's Full Self-Driving (FSD) v13.2 software further strengthened confidence in its planned initial deployment of ride-hailing in 2025, showcasing advancements in autonomous driving technology. Additionally, the growing adoption of electric and hybrid vehicles in the U.S. continues to reinforce the company's market leadership and long-term growth prospects. Shares of Palantir contributed to fund performance this month, following a series of strategic partnerships and contract wins. Notably, Palantir secured a significant army contract, partnered with L3Harris Technologies and Booz Allen Hamilton to drive technology development and defence mission innovation, and announced plans to form a consortium with other tech groups, including SpaceX and OpenAI, to bid for Pentagon contracts. Shares of Roblox contributed to the fund’s performance this month after the company announced a special deal on Robux, its proprietary in-game currency. In a post on its Creator Forum, Roblox said it would offer users discounts of up to 25% when purchasing Robux through its gift cards, app, or website. Shares of Roku contributed to fund performance this month.
Key detractors for the month include Coinbase (COIN), Tempus AI (TEM) and CRISPR Therapeutics (CRSP).
Shares of Coinbase detracted from the fund this month after the post-election rally in bitcoin lost momentum. Despite the downturn, Coinbase’s international derivatives trading volume surged four times higher than the previous month, and the company introduced Apple Pay support for fiat-to-crypto transactions. Shares of Tempus AI detracted from fund performance this month, despite signed agreements for in-network provider status with Blue Cross Blue Shield of Illinois, Blue Shield of California, and Avalon Healthcare Solutions, a laboratory benefit manager. Additionally, the company announced a new decision establishing reimbursement for the clinical use of Tempus ECG-AF algorithm, reducing the financial burden of using AI to improve early detection of atrial fibrillation. Shares of CRISPR Therapeutics detracted from fund performance this month on no company specific news, but likely due to a continued selloff in the gene editing space.