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This fund aims for strong investment growth over the long term, with a greater likelihood of ups and downs along the way. The fund does this by investing mostly in shares, with a moderate exposure to other assets such as bonds
and alternatives.
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.
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 Growth Fund works.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -0.19 | 0.46 | 2.72 | 11.23 | 3.61 |
| Appropriate Market Index (AMI)2 | 0.24 | 0.62 | 8.90 | 14.00 | 7.47 |
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 |
|---|---|
| Life Cycle Concentrated Global Share Fund Class Z | 15.46% |
| Infratil Limited | 2.85% |
| NZD BNP Paribas A/C | 2.74% |
| Nvidia Corp | 2.33% |
| Fisher & Paykel Healthcare | 2.08% |
| Microsoft Corp | 1.95% |
| Contact Energy Limited | 1.91% |
| Amazon Com Inc | 1.70% |
| Kiwi Property Group Limited | 1.61% |
| Meridian Energy Ltd NPV | 1.58% |
Commentary
As of 30 September 2026
The main feature of global markets for the third quarter of 2026 was the move higher in bond yields. This saw negative returns for global and local bonds, while equity markets ground their way higher, helped by another impressive earnings season. Geopolitical tensions remained high and the war in the Middle East showed no signs of resolution towards a lasting peace. Oil prices moved back above U$100 per barrel, and gas prices also ended the quarter higher. This upward pressure on energy prices, along with a new wave of trade tariffs announced by the US administration, meant inflation prints remained elevated. Many central banks moved short term interest rates higher. Sovereign issuance is still heavy and with US Hyperscalers also tapping into debt markets, global bond yields moved to levels not seen since pre-GFC days.
Despite the volatile geopolitical scene, economic growth proved resilient in the main regions around the world. Composite purchasing managers’ indices (PMIs) reached their highest levels since 2021 and 2023 for the US and Euro area respectively. The US remained the main engine of developed market growth, with consumer spending holding up well. Global equities (MSCI ACWI-NZD Hedged) were down just under 1% in September, and up 0.9% for the quarter. The NZ dollar fell sharply against all the majors over September, and was also weaker over the quarter, meaning returns for unhedged global equites (MSCI ACWI-NZD) were stronger than fully hedged, up 3.9% for the month, and up 2.3% for the quarter. Global bonds had a tough month and quarter due to upwards pressure on yields. Global bonds (hedged to NZD) were down -1.8% for the month of September (-2.9% for the quarter) while NZ Bonds fared slightly better than their global counterparts, down -1.0% for September and down -2.0% for the quarter.
The Growth Fund was down slightly over September and slightly positive for the third quarter of 2026. Global equities were the stand-out asset class, particularly unhedged due to the weaker NZD. On a sector basis Energy was the best performer on the back of higher oil prices, and Valero Energy was one of the top performers. Mega-cap names Nvidia and Microsoft also performed strongly as did SAAB (Defence), Illumina (Biotech) and IQVIA (Life Sciences). Within IT, semiconductor names were sold down while software companies rebounded strongly. Closer to home Vista, Spark, Sky TV and Sky City all delivered strong returns. Global and local bonds both had their worst quarter since 2022 on the back of high yields from inflation fears, central bank tightening, and a heavy issuance pipeline from sovereigns and corporates.