Medical Funds Management Limited
Moderate Fund
MAS KiwiSaver SchemeBalanced
What the provider says about this fund
The Moderate Fund invests mainly in income assets with a moderate allocation to growth assets. The Fund aims to provide moderate returns over the short to medium term. It is suitable for investors who are prepared to accept some investment risk to potentially achieve a moderate return.
1-year return
5.94%
5-year return p.a.
3.07%
Total annual fee
0.94%
Fund size ($m)
88.9
Members
1,318
Inception date
1 October 2007
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
1
2
3
4
5
6
7
Lower riskHigher risk
Investment mix
Growth assets
39.20%
Income assets
60.80%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 12.54% | 12.50% | 13.93% |
| Cash and equivalents | 6.42% | 5.50% | 7.91% |
| Commodities | 0.00% | 0.00% | 0.17% |
| International bonds | 33.37% | 35.00% | 19.39% |
| International shares | 26.66% | 27.50% | 35.53% |
| Listed property | 0.00% | 0.00% | 2.24% |
| New Zealand bonds | 21.01% | 19.50% | 18.91% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.46% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Hunter Global Fixed Interest Fund | Bonds | International Fixed Interest | NZ | 33.37% |
| 2 | JBWere Premium Custody Call Account - NZD | Cash | Cash and Cash Equivalents | NZ | 4.50% |
| 3 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 2.08% |
| 4 | Infratil Ltd | Shares | Australasian Equities | NZ | 1.57% |
| 5 | New Zealand Government 2.75% 15/04/2037 | Bonds | New Zealand Fixed Interest | NZ | 1.54% |
| 6 | New Zealand Government 1.5% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.19% |
| 7 | Apple Inc | Shares | International Equities | US | 1.17% |
| 8 | New Zealand Government 4.25% 15/05/2034 | Bonds | New Zealand Fixed Interest | NZ | 1.17% |
| 9 | New Zealand Government 1.75% 15/05/2041 | Bonds | New Zealand Fixed Interest | NZ | 1.12% |
| 10 | Nvidia Corp | Shares | International Equities | US | 1.10% |
Fees
0.94% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.78% | $234 | 0.77% |
| Other fees | 0.16% | $48 | 0.09% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.94% | $282 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 6.38% | 6.00% |
| 31 March 2018 | 4.16% | 5.23% |
| 31 March 2019 | 4.17% | 5.82% |
| 31 March 2020 | 0.66% | -1.40% |
| 31 March 2021 | 14.47% | 18.18% |
| 31 March 2022 | -0.04% | 0.77% |
| 31 March 2023 | -2.88% | -2.77% |
| 31 March 2024 | 8.50% | 10.89% |
| 31 March 2025 | 4.26% | 4.36% |
| 31 March 2026 | 5.94% | 6.36% |
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 |
| Fergus Mcdonald | Head of Bonds and Currency, Amova Asset Management | 25 years, 9 months |
| Hayden Griffiths | Head of Asset Allocation, JBWere | 29 years, 11 months |
| Rickey Ward | Head of Investment Strategy & Research, JBWere | 11 months |