Super Amazing Fund Management | Month ended 31 August 2026
Benchmark: 60% MSCI World (NZD, hedged) / 40% Bloomberg NZ Bond Composite
About this report
| Period | Fund (%) | Benchmark (%) | Excess (%) |
|---|---|---|---|
| 1 Month | +1.30 | +1.10 | +0.20 |
| 3 Months | +3.20 | +3.40 | -0.20 |
| 1 Year | +9.60 | +8.80 | +0.80 |
| Since Inception | +7.40 | +6.90 | +0.50 |
Total attribution effect for the period: +0.25%
| Sector | Allocation (%) | Selection (%) | Total effect (%) |
|---|---|---|---|
| Global Equities | +0.14 | +0.09 | +0.23 |
| NZ Fixed Interest | -0.03 | +0.05 | +0.02 |
| International Fixed Interest | +0.02 | -0.01 | +0.01 |
| Cash | +0.01 | +0.00 | +0.01 |
| Listed Property | -0.04 | +0.02 | -0.02 |
| Sector | Fund (%) | Benchmark (%) | Active (%) |
|---|---|---|---|
| Global Equities | 46.5 | 45.0 | +1.5 |
| NZ Fixed Interest | 18.2 | 20.0 | -1.8 |
| International Fixed Interest | 17.8 | 20.0 | -2.2 |
| Cash | 5.5 | 5.0 | +0.5 |
| Listed Property | 6.0 | 5.0 | +1.0 |
| Other | 6.0 | 5.0 | +1.0 |
The Reserve Bank of New Zealand held the OCR steady, with guidance suggesting a data-dependent approach to further easing. This kept domestic fixed interest yields broadly range-bound over the month.
A modest decline in longer-dated domestic yields provided a small positive contribution to the fund's fixed interest allocation.
The fund's international fixed interest allocation is largely currency-hedged, limiting the FX impact on that portion of the portfolio, while the unhedged equity allocation benefited modestly from currency movement.
Inflation remaining within the RBNZ's target band supported the case for a steady policy rate over the month, with limited surprise to market pricing.
Balanced portfolios benefited from a constructive month across both growth and income assets, with global equities providing the bulk of the fund's return while fixed interest allocations added a smaller, steadier contribution.
The fund's equity allocation was the primary driver of relative outperformance this month, with both allocation and selection effects positive. The listed property allocation detracted modestly from relative performance as domestic property names lagged the broader market.
The portfolio retains a modest overweight to global equities relative to the benchmark, reflecting a constructive medium-term view, while fixed interest duration positioning remains close to benchmark pending further clarity on the rate outlook.
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