Fund Performance

Welcome to our fund performance page, where you can track the historical returns and key metrics of our investment funds.

Here, you will find comprehensive information to help you make informed decisions about your investment portfolio.

Market Commentary

Global markets remained highly strung in September, prone to reacting dramatically to the smallest signs of either green shoots or further setbacks in major economies.

US investors were testy at first, in something of a replay of the previous month’s rough start. However, enthusiasm returned in spades when the Federal Reserve cut interest rates by a more aggressive-than-expected 50 basis points. Spirits were further buoyed by easing inflation, robust economic indicators and bold moves from Chinese authorities to stimulate its lacklustre economy – a key engine of global supply and demand.

At home, corporate actions and economic blues kept local investors on their toes. Funds were compelled to build positions in a handful of Kiwi market heavyweights, including Infratil and Gentrack, after they were added to an Australian index. On the other hand, Auckland International Airport’s gargantuan capital raise saw eager participants siphon money from elsewhere, driving a few share prices south in the process.

While business confidence appears to be picking up, the economy has yet to find its footing. GDP fell by 0.2% in the three months to June 2024 – the third decline in NZ economic activity since the first quarter last year.

Aussie markets fared better on the back of a strong resource sector, fuelled by hopes that a more solid Chinese economy would resurrect demand for commodities. Meanwhile, gold hit all-time highs on the back of falling inflation, a weaker dollar and a turbulent geopolitical backdrop. While the RBA welcomed a marked deceleration in consumer price rises, it wasn’t enough to spur them into cutting interest rates, which they kept steady at 4.35%.

Against this backdrop, the S&P 500 finished September up by 2.0%, the tech-focused Nasdaq gained 2.7%, and the ASX 200 grew by 2.2%. Meanwhile, the NZX 50 shed 0.2% while the UK’s FTSE 100 finished down by 1.7% after the Bank of England held off cutting rates further, as authorities digested the dubious fiscal milestone of government debt hitting 100% of GDP for the first time.

Fund Performance

Fund Performance and Investment Updates

Latest Fund Performance

Market Commentary

Past Investment Performance 2024

Past Investment Performance 2023

Past Investment Performance 2022

Past Investment Performance 2021

Past Investment Performance 2020

Past Investment Performance 2019 and prior

Fund Updates

Fund Updates 2024

Fund Updates 2023

Fund Updates 2022

Fund Updates 2021

Fund Updates 2020

Fund Updates 2019

Fund Updates 2018

Fund Updates 2017

Annual Reports