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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.
Nikko AM, established in 1994, manages funds for a wide range of clients including charities, corporations, local governments, and individual investors. As a New Zealand-based investment manager, it benefits from the global expertise of its parent company, Nikko Asset Management, one of Asia’s largest asset managers. Led by Stuart Williams since 2023, Nikko AM actively manages New Zealand equity and fixed income assets, partnering with Goldman Sachs, NAM Europe, and ARK for global investments. Believing in active management, they seek to uncover market opportunities.
Hear from George Carter, former Managing Director of Nikko AM. In this video, he explains what an average day in his job looks like and how Diversified Funds work. George also talks us through the investment process and details the main reasons why you should consider a Diversified Fund for your next investment.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -11.47% | 2.19% | 23.88% | 2.25% | |
| Appropriate Market Index (AMI)2 | -1.36% | 5.68% | 26.40% | 21.69% |
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 | 7.89% |
| Roblox Corp | 6.72% |
| Palantir Technologies Inc | 5.99% |
| Roku Inc | 5.98% |
| Coinbase Global Inc | 5.83% |
| Shopify Inc | 4.48% |
| Robinhood Markets Inc | 4.33% |
| Meta Platforms Inc | 4.14% |
| Tempus Ai Inc | 3.82% |
| Block Inc | 2.98% |
Commentary
As of 28 February 2025
Market Overview
Fund Commentary
Key contributors for the month include Palantir (PLTRP), Pinterest (PINS) and Spotify (SPOT).
Shares of Palantir Technologies contributed to fund performance this month following a strong earnings report that showcased significant growth in U.S. customers and commercial revenue. The stock surged as the company reported an increase in U.S. commercial revenue year-over-year and provided an optimistic outlook for fiscal year 2025, indicating continued demand for its AI-driven platforms, particularly from government clients. Notably, concerns surrounding U.S. government budget cuts negatively impacted Palantir's share price exiting the month. Shares of Pinterest contributed to the fund this month after the company reported strong fourth-quarter earnings, including year-over-year revenue growth and an increase in global monthly active users. Shares of Spotify contributed to the fund this month after the company reported strong fourth quarter earnings, highlighted by revenue growth year-over-year on an FX neutral basis, and monthly active users (MAUs) growing year-over-year across all regions.
Key detractors for the month include Tesla (TSLA), Coinbase (COIN) and Block (XYZ).
Shares of Tesla detracted from performance during the month amid concerns about slowing EV adoption linked to Elon Musk's political involvement. Meanwhile, Tesla continued to advance its Full Self-Driving (FSD) software, launching FSD Supervised Beta in Mexico and FSD-like smart driving features in China, remaining on track to launch a commercial robotaxi service in Austin in June. Later in the month, Tesla began delivering the refreshed Model Y in China, with US deliveries set to start in early March. Shares of Coinbase detracted from the fund this month, largely tracking the decline in the price of Bitcoin over the past month. However, the company reported strong fourth quarter earnings, with net revenue growth year-over-year and trading volume growth year-over-year. The SEC also formally dropped its case against Coinbase, an important milestone that signals the end of former SEC Chair Gary Gensler's era of "regulation by enforcement" and marking a more progressive approach to digital assets regulation in the United States. Shares of Block detracted from the fund this month after the company reported fourth-quarter results, including lower-than-expected revenue growth year-over-year. That said, Square, the company’s merchant platform, delivered solid performance, with Gross Payment Volume (GPV) growth accelerating year-over-year.