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 31 March 2026

Market Overview

  • The US-Israeli attack on Iran triggered a sell-off in both equities and bonds with the effective closure of the Strait of Hormuz raising fears of stagflation.
  • US economic data remained resilient and this combined with some more hawkish rhetoric from the Federal Reserve contributed to a stronger US dollar. Economic growth signals from Europe and Asia were more tepid.
  • Energy was the standout sector for both March and the first quarter. Over March it was the only sector to post a positive return.

 

 

Fund Highlights

  • The Conservative Fund was down for the quarter. Most of the weak performance came in March.
  • For both global and local bonds the rise in rates over March was the key attributor to negative returns for the quarter.
  • Within global equities the market was volatile as escalating Middle East tensions sent oil prices soaring.
  • All four of the underlying external managers underperformed for the quarter, with Amova and WCM (‘growth’ managers) hit particularly hard.
  • Local listed property stocks were also down for the quarter.

Performance

GoalsGetter Amova Conservative Fund
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Performance

at 31 March 2026
One month Three months One year Three years (p.a) Five years (p.a)
Fund performance1 -2.96 -2.57 3.25 5.32 2.12
Appropriate Market Index (AMI)2 -2.16 -1.13 5.46 6.04 2.83
  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 4.07%
Japan Treasury Disc Bill 130426 0.00 Gb 2.22%
NZD BNP Paribas A/C 2.19%
NZ Government 2.75% 15/04/2037 1.81%
NZ Government 150541 1.75 GB 1.62%
NZ Government Bond 2% 15/05/2032 1.38%
New Zealand Government 150536 4.25 Gb 1.31%
NZ Government 150534 4.25 Gb 1.22%
French Discount T-Bill 270526 0.00 Gb 0.91%
USD BNP Paribas A/C 0.90%