Super Amazing Fund Management | Month ended 31 August 2026
Benchmark: MSCI World Index (NZD, unhedged)
About this report
| Period | Fund (%) | Benchmark (%) | Excess (%) |
|---|---|---|---|
| 1 Month | +2.10 | +1.80 | +0.30 |
| 3 Months | +4.60 | +4.90 | -0.30 |
| 1 Year | +14.20 | +12.70 | +1.50 |
| Since Inception | +9.80 | +8.90 | +0.90 |
Total attribution effect for the period: +0.49%
| Sector | Allocation (%) | Selection (%) | Total effect (%) |
|---|---|---|---|
| Information Technology | +0.31 | +0.18 | +0.49 |
| Health Care | +0.08 | -0.05 | +0.03 |
| Financials | -0.06 | +0.11 | +0.05 |
| Energy | -0.12 | +0.02 | -0.10 |
| Consumer Discretionary | +0.05 | -0.02 | +0.03 |
| All other sectors | +0.02 | -0.03 | -0.01 |
| Sector | Fund (%) | Benchmark (%) | Active (%) |
|---|---|---|---|
| Information Technology | 26.4 | 22.1 | +4.3 |
| Health Care | 13.8 | 12.9 | +0.9 |
| Financials | 14.2 | 16.5 | -2.3 |
| Energy | 2.1 | 3.8 | -1.7 |
| Consumer Discretionary | 11.6 | 10.9 | +0.7 |
| Industrials | 9.7 | 10.2 | -0.5 |
| All other sectors | 22.2 | 23.6 | -1.4 |
The Federal Reserve held rates steady for a third consecutive meeting, with commentary continuing to lean on incoming inflation data before signalling any cutting cycle. This kept discount rate assumptions for growth-oriented sectors broadly stable over the month.
A softer New Zealand dollar over the month added a modest tailwind to unhedged offshore returns for New Zealand-based investors, contributing roughly 1.2 percentage points of the fund's total return in NZD terms.
A modest pullback in long-dated yields provided some relief for higher duration growth names, consistent with the outperformance seen in the technology sector this month.
Continued uncertainty around trade policy kept volatility elevated in cyclical sectors, particularly industrials and energy, though broad market impact was contained over the period.
Global equities advanced over the month, led by continued strength in large-cap technology names on the back of resilient earnings and ongoing enthusiasm around AI-related capital expenditure. Energy was the notable laggard as oil prices softened on demand concerns.
Outperformance versus the benchmark was driven primarily by an overweight position in Information Technology, which contributed positively through both allocation and stock selection. This was partially offset by underweight positioning in Financials, where the benchmark's constituents outperformed the fund's holdings within the sector.
The portfolio remains overweight Information Technology and Health Care heading into the next quarter, reflecting continued conviction in structural earnings growth in these areas, while the underweight to Energy reflects a cautious near-term view on commodity price direction.
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