Our KiwiSaver Scheme Funds

GoalsGetter Amova Conservative Fund

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About the fund

This fund aims for more modest investment returns which grow steadily over time, keeping ups and downs to a minimum. The fund does this by investing mostly in bonds and cash, but also has a moderate exposure to shares.

Risk Indicator (volatility)

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3 Medium
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Target Asset Allocation

Growth 23.00%
Income 77.00%

Risk Indicator (volatility) Scale

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.

Find out more about the GoalsGetter Amova Conservative Fund from Alan Clarke

Hear from Alan Clarke, Portfolio Manager. In this video, he explains what an average day in his job looks like and how the GoalsGetter Amova Conservative Fund works.

Commentary

As of 28 February 2026

Market Overview

  • Global equity markets continued their solid upward trend from the ‘Liberation Day’ drawdown, with leadership broadening well beyond US mega-caps.
  • The US Supreme Court ruled President Trump did not have the authority to impose the 2025 reciprocal tariffs via executive orders.
  • Middle East tensions also built up and at the end of the month combined US-Israeli forces attacked Iran who responded in kind.
  • Sector leadership yet again came from the cyclical energy and materials sectors, with utilities and consumer staples also outperforming.

Fund Highlights

  • Returns for the Conservative Fund were positive in February, but slightly behind benchmark.
  • The main asset classes posted solid returns over the month, with underperformance driven by stock selection in global equities, local equities and Australasian listed property.
  • It was a rare month in which all four global equity managers underperformed, with Amova and JPMorgan the key drivers of underperformance.
  • The NZ bond funds long duration position benefited from the move lower in interest rates.

Performance

GoalsGetter Amova Conservative Fund
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Performance

at 28 February 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 0.70% 0.47% 5.68% 6.80% 2.95%
Appropriate Market Index (AMI)2 1.20% 1.08% 6.80% 7.25% 3.50%
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: Composite - refer to the GoalsGetter KiwiSaver Scheme SIPO

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

Top 10 Holdings

Security Name Percentage
Life Cycle Concentrated Global Share Fund Class Z 3.97%
Japan Treasury Disc Bill 130426 0.00 Gb 2.09%
Federal National Mortgage Association 150244 0.00 Tba 1.87%
NZ Government 150541 1.75 GB 1.62%
NZ Government 2.75% 15/04/2037 1.56%
United States Treasury 300426 0.00 Cb 1.54%
French Discount T-Bill 040326 0.00 Gb 1.45%
NZD BNP Paribas A/C 1.44%
NZ Government Bond 2% 15/05/2032 1.37%
USD BNP Paribas A/C 1.28%