Amova Global Shares Hedged Fund
Managed by Amova Amova Global Shares Hedged Fund is a international equities managed fund operated by Amova; PIE-structured; FMA risk indicator 6/7. Headline terms: annual fund charge 1.20%. Compared with 80 other same-category funds on this site, the 1.20% annual fund charge sits above the same-category median of 0.60%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.20%
vs peer avg 0.91%
Risk indicator
6/7
1 = lower risk · 7 = higher risk
5-year return p.a.
2.37%
peer avg 4.91%
Fund size
NZ$242.5m
98% growth · 2% income
To outperform the MSCI All Countries World Index (net dividends reinvested), gross hedged 100% to NZD by 3.0% p.a. over a rolling three-year period before fees, expenses and taxes. The Fund seeks to provide investors with a relatively concentrated actively managed investment portfolio of global equities to achieve long term capital growth. Currency exposure created as a consequence of global equity investment hedged 100% to the NZD.
Benchmark track record
Compare International Equities consistency →How Amova Global Shares Hedged Fund performed against its own market-index benchmark each year, after fees and tax — from the FMA fund-update dataset. Historical track record, not current-year performance; past performance is not a guide to the future.
Beat its benchmark in 0 of 3 years
annual returns to 31 March 2026Since inception: 7.3% p.a. after fees & tax vs benchmark 4.16%.
How Amova Global Shares Hedged Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- MSCI All Countries World Index (net dividends reinvested), gross hedged 100% to NZD
- Top 3 holdings
- Nvidia Corp (8.2%) · Microsoft Corp (5.7%) · Amazon Com Inc (5.7%)
Key facts
Fund start date
10 May 2019
Buy / sell spread
7 bps (0.07%) / 7 bps (0.07%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Currency
NZD hedged
Earlier PDS versions
Archived Product Disclosure Statements held by Sorted Smart Investor. Older than 36 months so not used for current fund facts above; useful for fee-history context.
- 2020 dated Annual fund charge 1.43% (+0.23pp vs current) View archived PDF →
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- Amova NZ acknowledges a conflict of interest because it hires related-party firms AAME and AAMA, which share common ownership with Amova NZ, to manage underlying fund assets.
- Amova NZ pays management fees to AAME for global equity management and to AAMA for the ARK Disruptive Innovation Fund, meaning fund costs flow to entities under common ownership.
- The Amova Concentrated Equity Fund charges a performance fee of 10% of gains exceeding the OCR plus 5% over 12 months, measured after deducting the management fee and expenses.
Generated 2026-05-28 from Amova NZ Investment Scheme OMI (dated 2025-11-24). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Public Trust
Auditor
KPMG
Custodian
BNP Paribas Fund Services Australasia Pty Limited
Conflicts disclosed
1
In OMI
Conflicts of interest disclosed in 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.
How this fund compares to peers
Mechanical comparison vs the 81 other international equities funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.20%
Category median: 0.61%
Pricier than most peers (top 77% by fee)
5y return p.a. (after fees)
+2.37%
Category median: +8.31%
Lower than most peers (bottom 10% over period)
Fund size
NZ$242.5m
Category median: NZ$95.7m
Top 25% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$586
Compounded charge over 5 years (excl. returns)
$284 more than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
 Nvidia Corp | 8.15% |
 Microsoft Corp | 5.73% |
 Amazon Com Inc | 5.72% |
 Broadcom Corp Com | 3.79% |
| NE Netflix Inc | 3.63% |
| CG Compass Group Ord GBP0 1105 | 2.96% |
| CE Coca-Cola Europacific Partners | 2.95% |
 Mastercard Inc - Class A | 2.88% |
| UF Us Foods Holding Corp | 2.87% |
| LI Linde Plc | 2.76% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- AMOVA GLOBAL SHARES HEDGED FUND (FND14536) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 2.26 KB
- Nikko AM Cashand Fixed Interest Product Disclosure Statement 29 May 2020.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 616.05 KB
- Amova Global Shares Hedged Fund fund update 31 March 2026.pdf The quarterly update published by the provider PDF, 604.42 KB
- Nikko AM Domestic Equity Funds Product Disclosure Statement 29 May 2020.pdf Additional product disclosure statement from the provider PDF, 565.22 KB
- Nikko AM Global Equity Funds Product Disclosure Statement 1 April 2020.pdf Additional product disclosure statement from the provider PDF, 589.40 KB
- Nikko AM Option Fund Product Disclosure Statement 14 May 2020.pdf Additional product disclosure statement from the provider PDF, 548.05 KB
- Amova Freedom Fund Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 519.90 KB
- Nikko AM Cashand Fixed Interest Product Disclosure Statement 29 May 2020.pdf Additional product disclosure statement from the provider PDF, 616.05 KB
- Nikko AM Cashand Fixed Interest Product Disclosure Statement 29 May 2020.pdf Additional product disclosure statement from the provider PDF, 616.05 KB
- Nikko AM Australasian Small Companies Fund PDS 18 June 2016.pdf Additional product disclosure statement from the provider PDF, 2.84 MB
- Amova Global Equity Funds Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 546.13 KB
- Nikko AM Multi Strategy Fund PDS 3 April 2018.pdf Additional product disclosure statement from the provider PDF, 310.53 KB
- Amova Diversified Funds Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 556.15 KB
- Amova ARK Disruptive Innovation Fund Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 541.04 KB
- Nikko AM Income Fund Product Disclosure Statement 3 July 2023.pdf Additional product disclosure statement from the provider PDF, 791.12 KB
- Amova Cashand Fixed Interest Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 544.38 KB
- Amova Domestic Equity Funds Product Disclosure Statement 1 September 2025.pdf Additional product disclosure statement from the provider PDF, 560.10 KB
- Nikko AM Cashand Fixed Interest Product Disclosure Statement 29 May 2020.pdf Additional product disclosure statement from the provider PDF, 616.05 KB
- Amova NZ Investment Other Material Information 24 November 2025.pdf Amova NZ Investment Scheme - Other Material Information PDF, 799.84 KB
- Amova Asset Management New Zealand Limited Other Material Information Buy Sell Spreads.pdf Amova Asset Management New Zealand Limited Other Material Information - Buy Sell Spreads PDF, 515.69 KB
About this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Amova
Active New Zealand and global equity manager (formerly Nikko AM NZ).
See all funds from Amova →Common questions
Questions people ask about Amova Global Shares Hedged Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
What is a hedged global share fund?
A hedged global share fund holds shares listed on overseas stock exchanges but uses currency hedging to reduce fluctuations from exchange-rate movements. The Amova Global Shares Hedged Fund is denominated in NZD and hedges its foreign currency exposure, so investors' returns reflect share-price movements rather than NZD/foreign-currency swings.
Is it better to buy hedged or unhedged funds?
Whether hedging suits your situation depends on your investment horizon, currency views, and risk tolerance—hedging reduces currency volatility but incurs a cost, while unhedged funds expose you to exchange-rate movements that may amplify or offset share gains. Compare the annual fund charges and risk profiles of hedged and unhedged options available in our coverage to understand the trade-offs for your circumstances.
Are global equity funds a good investment?
Global equity funds provide exposure to a diversified range of overseas companies and economies outside New Zealand. Suitability depends on your investment goals, time horizon, and risk tolerance; the Amova Global Shares Hedged Fund carries a risk indicator of 6/7 on the FMA standardised scale, indicating high volatility. Review the PDS and FMA Disclose register for performance history and specific fund details.
Head-to-head
Compare Amova Global Shares Hedged Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International Equities funds
Same manager
Other funds by Amova
- Amova Corporate Bond FundNZ Fixed Interest
- Amova Global Shares FundInternational Equities
- Amova Core Equity FundAustralasian Equities
FMA risk band
Same risk band (6/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 6 funds →AI & integrations
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Amova Global Shares Hedged Fund?
Amova Global Shares Hedged Fund is managed by Amova. Active New Zealand and global equity manager (formerly Nikko AM NZ).
What asset class is the Amova Global Shares Hedged Fund?
It is a international equities managed fund. Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
What are the fees for the Amova Global Shares Hedged Fund?
The annual fund charge for the Amova Global Shares Hedged Fund is 1.20% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Amova Global Shares Hedged Fund?
The risk indicator is 6/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Amova Global Shares Hedged Fund a PIE fund?
Yes. The Amova Global Shares Hedged Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Amova Global Shares Hedged Fund?
Fund size (assets under management) is NZ$243 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Amova Global Shares Hedged Fund invest in?
The latest published top holdings are: Nvidia Corp (8.15%), Microsoft Corp (5.73%), Amazon Com Inc (5.72%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
Is the Amova Global Shares Hedged Fund currency-hedged?
Yes. The Amova Global Shares Hedged Fund hedges its foreign-currency exposure back to NZD. This reduces the impact of NZD/foreign-currency movements on returns but adds a hedging cost.
How can I invest in the Amova Global Shares Hedged Fund?
The Amova Global Shares Hedged Fund is available via Amova directly. Always read the current Product Disclosure Statement before investing.
What is a hedged global share fund?
A hedged global share fund holds shares listed on overseas stock exchanges but uses currency hedging to reduce fluctuations from exchange-rate movements. The Amova Global Shares Hedged Fund is denominated in NZD and hedges its foreign currency exposure, so investors' returns reflect share-price movements rather than NZD/foreign-currency swings.
Is it better to buy hedged or unhedged funds?
Whether hedging suits your situation depends on your investment horizon, currency views, and risk tolerance—hedging reduces currency volatility but incurs a cost, while unhedged funds expose you to exchange-rate movements that may amplify or offset share gains. Compare the annual fund charges and risk profiles of hedged and unhedged options available in our coverage to understand the trade-offs for your circumstances.
Are global equity funds a good investment?
Global equity funds provide exposure to a diversified range of overseas companies and economies outside New Zealand. Suitability depends on your investment goals, time horizon, and risk tolerance; the Amova Global Shares Hedged Fund carries a risk indicator of 6/7 on the FMA standardised scale, indicating high volatility. Review the PDS and FMA Disclose register for performance history and specific fund details.