# Amova Concentrated Equity Fund > Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings. - **Manager:** Amova (Amova Asset Management NZ Limited) - **Asset class:** Australasian Equities - **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%) - **Confidence tier:** C (Sorted Smart Investor → FMA Disclose) - **Last verified:** 2026-05-22 ## Summary The Amova Concentrated Equity Fund is a australasian equities managed fund run by Amova. Active New Zealand and global equity manager (formerly Nikko AM NZ). ## Investment objective (from PDS) > To outperform the RBNZ Official Cash Rate plus 5.0% per annum over a rolling three-year period before fees, expenses and taxes. Aims to provide investors with concentrated exposure to New Zealand and Australian equity markets from an actively managed investment portfolio investing directly into Australasian equities, listed property, cash and cash equivalents, New Zealand fixed income and international fixed income securities. Source: Product Disclosure Statement dated 2025-08-28 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/mdo0a59ac0dbf2bb5b483d1b819ad343493/Amova-Domestic-Equity-Funds-Product-Disclosure-Statement-1-September-2025.pdf ## Fund data - **Annual fund charge:** 1.15% p.a. (from the latest Quarterly Fund Update) - **5-year return (after charges, after tax at 28% PIR):** 0.65% p.a. - **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk) - **Fund size (AUM):** NZ$13 million - **Asset mix:** 98% growth assets · 2% income assets - **Fund started:** 21 August 2006 ## Top 10 holdings 1. Infratil Limited — 11.90% 2. Spark New Zealand Ltd — 8.85% 3. Contact Energy Limited — 8.13% 4. Meridian Energy Ltd NPV — 7.71% 5. Worley Limited — 7.59% 6. NEXTDEC Ltd — 7.44% 7. Summerset Group Holdings Ltd — 7.24% 8. Resmed Inc — 5.45% 9. Aristocrat Leisure Ltd — 5.31% 10. Sky Network Television Ltd — 5.12% Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register. ## Performance fee (from PDS) - **Performance fee paid (last published period):** 10.00% > 10% of gains above the hurdle rate. The hurdle rate for the fund is 5% above the Reserve Bank of New Zealand Official Cash Rate over a 12 month financial period after deducting our management fee and expenses. ## Additional terms (from PDS) - **Distribution cadence:** semi-annually - **Buy / sell spread:** 29 bps / 29 bps (transaction cost on subscription / redemption) ## Scheme disclosures (from OMI) Scheme-level. The same disclosures apply to every fund in this scheme. - **Trustee / Supervisor:** Public Trust - **Auditor:** KPMG - **Custodian:** BNP Paribas Fund Services Australasia Pty Limited - **Conflicts of interest disclosed in OMI:** 1 ### Conflicts of interest (verbatim from OMI) - Amova NZ engages related party managers AAME and AAMA (both having common ownership with Amova NZ) to manage underlying assets of certain funds, creating a potential conflict of interest between obtaining best execution/terms and maintaining intra-group relationships. ### Related-party transactions - **Amova Asset Management Europe Limited (AAME)** (Related party — common ownership with Amova NZ) — Investment management of global equity assets for the Amova Wholesale Global Shares Fund and as an investment manager for the Amova Global Equity Unhedged Fund under an Investment Management Agreement dated 26 June 2017 - **Amova Asset Management Americas Inc. (AAMA)** (Related party — common ownership with Amova NZ) — Manages assets of the Amova ARK Disruptive Fund Innovation Fund (Underlying Fund), implementing the investment strategy as advised by the investment adviser (ARK Investment Management LLC) Source: Other Material Information document dated 2025-11-24. https://smartinvestor.sorted.org.nz/disclose-document/mdoc6dce8a8f80099b27f95d90911d3267d/Amova-NZ-Investment-Other-Material-Information-24-November-2025.pdf ## How to invest Available via: Amova directly. Read the current Product Disclosure Statement (PDS) before investing. ## Sources - **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Amova%20Concentrated%20Equity%20Fund - **Product Disclosure Statement:** /disclose-document/mdoeedb925cb6b68880d17e0c758ee568e4/Nikko-AM-Cashand-Fixed-Interest-Product-Disclosure-Statement-29-May-2020.pdf - **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10488/OFR10608/FND468/ ## Citations (authoritative primary sources) - FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ) - Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities - Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html - Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/ ## This file - **Canonical HTML:** https://managedfunds.nz/funds/amova/concentrated-equity/ - **Markdown (this file):** https://managedfunds.nz/funds/amova/concentrated-equity/markdown.md - **Structured data (JSON):** https://managedfunds.nz/funds/amova/concentrated-equity/data.json - **First published:** 2026-05-08 - **Last refreshed:** 2026-05-22 - **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt --- ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.