Our Managed Funds

Amova Global Equity Multi-Manager Unhedged Fund

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About the fund

The Multi-Manager global equity strategy has four underlying managers. These managers select  companies from around the world covering a diverse range of regions and sectors.  The result is a portfolio that holds around 150-170 companies.

The appointed global managers  are responsible for the investment management of the assets, with the over all multi-manager global equity strategy managed by Yarra Capital Management.
 

Risk Indicator (volatility)

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5 High
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Target Asset Allocation

Growth 100.00%

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.

Commentary

As of 28 February 2026

Market Overview

  • Global equities delivered a mixed yet generally positive performance in February 2026, demonstrating resilience amid ongoing geopolitical tensions and sector rotation.
  • Overall, global equity returns markets continued the solid upward trend from the ‘Liberation Day’ drawdown, with leadership broadening beyond US mega-caps.
  • Non-US markets, including Japan, UK, Korea, and Taiwan, outperformed the US, supported by earnings recovery and fiscal support.
  • In terms of a big picture view, “old economy” stocks, cyclicals and commodities beat US mega-cap growth and internet stocks.

Fund Highlights

  • The fund returned 0.57% in February, underperforming the global equity index (MSCI ACWI), which returned 2.10%.
  • It was a rare month in which all four managers underperformed.
  • At the individual stock level, the fund’s performance was supported primarily from overweight positions in outperformers such as Taiwan Semiconductor,
  • Corning, Safran and Siemens Energy.

Performance

Amova Global Equity Multi-Manager Unhedged 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 -1.45% 8.20% 20.17% 15.69%
Appropriate Market Index (AMI)2 2.10% 0.81% 15.97% 22.02% 16.09%
  1. Returns are before tax and after the deduction of fees and expenses and including tax credits (if any).
  2. AMI: MSCI All Countries World Index (net dividends reinvested), expressed in NZD (unhedged).

     

 

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 30.11%
Nvidia Corp 4.02%
Amazon Com Inc 3.21%
Microsoft Corp 2.97%
NZD BNP Paribas A/C 1.58%
Applovin Corp 1.33%
Broadcom Corp Com 1.15%
Siemens Energy Ag 1.13%
Apple Inc 1.09%
Tencent Hldgs Limited 1.07%