Medical Funds Management Limited
Cash Fund
MAS KiwiSaver SchemeDefensive
What the provider says about this fund
The Cash Fund invests in a range of cash and cash equivalent investments. The Fund aims to achieve stable returns over the short term. It is suitable for investors who require an investment with very low volatility.
1-year return
2.76%
5-year return p.a.
2.62%
Total annual fee
0.25%
Fund size ($m)
20.9
Members
416
Inception date
22 December 2008
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Lower riskHigher risk
Investment mix
Growth assets
0.00%
Income assets
100.00%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Australasian shares | 0.00% | 0.00% | 0.11% |
| Cash and equivalents | 100.00% | 100.00% | 48.53% |
| Commodities | 0.00% | 0.00% | 0.00% |
| International bonds | 0.00% | 0.00% | 22.70% |
| International shares | 0.00% | 0.00% | 0.12% |
| Listed property | 0.00% | 0.00% | 0.09% |
| New Zealand bonds | 0.00% | 0.00% | 28.46% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.05% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | JBWere Premium Custody Call Account - NZD | Cash | Cash and Cash Equivalents | NZ | 20.21% |
| 2 | Kiwibank On Term @ 3.550% 27/01/2026 27/01/2027 | Cash | Cash and Cash Equivalents | NZ | 4.76% |
| 3 | BNZ On Term @ 3.550% 09/02/2026 09/02/2027 | Cash | Cash and Cash Equivalents | NZ | 4.75% |
| 4 | Kiwibank On Term @ 3.650% 11/02/2026 11/02/2027 | Cash | Cash and Cash Equivalents | NZ | 4.75% |
| 5 | Bank of China On Term @ 3.500% 13/02/2026 15/02/2027 | Cash | Cash and Cash Equivalents | NZ | 4.75% |
| 6 | Kiwibank On Term @ 3.550% 16/03/2026 16/03/2027 | Cash | Cash and Cash Equivalents | NZ | 4.74% |
| 7 | BNZ on Term @ 4.08% 04/06/2025 04/06/2026 | Cash | Cash and Cash Equivalents | NZ | 3.91% |
| 8 | Rabobank on Term @ 4.000% 23/09/2025 23/09/2026 | Cash | Cash and Cash Equivalents | NZ | 3.86% |
| 9 | Rabobank on Term @4.000% 08/10/2025 08/10/2026 | Cash | Cash and Cash Equivalents | NZ | 3.86% |
| 10 | Westpac On Term @3.500% 05/12/2025 07/12/2026 | Cash | Cash and Cash Equivalents | NZ | 3.83% |
Fees
0.25% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.24% | $72 | 0.46% |
| Other fees | 0.01% | $3 | 0.06% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.25% | $75 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2017 | 1.79% | 1.52% |
| 31 March 2018 | 1.73% | 2.07% |
| 31 March 2019 | 1.64% | 2.39% |
| 31 March 2020 | 1.28% | 1.67% |
| 31 March 2021 | 0.60% | 1.64% |
| 31 March 2022 | 0.54% | -1.81% |
| 31 March 2023 | 1.96% | -0.19% |
| 31 March 2024 | 3.85% | 3.49% |
| 31 March 2025 | 4.04% | 3.79% |
| 31 March 2026 | 2.76% | 2.09% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Brendan O’donovan | Chair Investment Committee | 8 years, 9 months |
| Daniel Mead | Head of Investment | 2 years, 8 months |
| Dev Archarya | NZ Fixed Interest Manager, JBWere | 8 months |
| Hayden Griffiths | Head of Asset Allocation, JBWere | 29 years, 11 months |
| Tom Phillips | Senior Adviser, JBWere | 21 years, 7 months |