Medical Funds Management Limited
Balanced Fund
MAS KiwiSaver SchemeBalanced
What the provider says about this fund
The Balanced Fund invests mainly in growth assets with a moderate allocation to income assets. The Fund aims to provide a medium level of return over the medium to long term. It is suitable for investors who are prepared to accept a medium level of investment risk to potentially achieve a medium return.
1-year return
8.23%
5-year return p.a.
4.27%
Total annual fee
0.98%
Fund size ($m)
410.0
Members
4,746
Inception date
1 October 2007
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
1
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7
Lower riskHigher risk
Investment mix
Growth assets
59.15%
Income assets
40.85%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 18.68% | 18.50% | 13.93% |
| Cash and equivalents | 4.26% | 3.50% | 7.91% |
| Commodities | 0.00% | 0.00% | 0.17% |
| International bonds | 21.43% | 22.50% | 19.39% |
| International shares | 40.47% | 41.50% | 35.53% |
| Listed property | 0.00% | 0.00% | 2.24% |
| New Zealand bonds | 15.16% | 14.00% | 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 | 21.43% |
| 2 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 3.09% |
| 3 | JBWere Premium Custody Call Account - NZD | Cash | Cash and Cash Equivalents | NZ | 2.42% |
| 4 | Infratil Ltd | Shares | Australasian Equities | NZ | 2.34% |
| 5 | Apple Inc | Shares | International Equities | US | 1.78% |
| 6 | Nvidia Corp | Shares | International Equities | US | 1.67% |
| 7 | Auckland International Airport Ltd | Shares | Australasian Equities | NZ | 1.44% |
| 8 | Alphabet Inc Class A | Shares | International Equities | US | 1.35% |
| 9 | Microsoft Corp | Shares | International Equities | US | 1.31% |
| 10 | Meridian Energy Limited | Shares | Australasian Equities | NZ | 1.20% |
Fees
0.98% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.85% | $255 | 0.77% |
| Other fees | 0.13% | $39 | 0.09% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.98% | $294 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 8.31% | 6.00% |
| 31 March 2018 | 4.89% | 5.23% |
| 31 March 2019 | 5.21% | 5.82% |
| 31 March 2020 | 0.35% | -1.40% |
| 31 March 2021 | 20.54% | 18.18% |
| 31 March 2022 | 1.45% | 0.77% |
| 31 March 2023 | -3.10% | -2.77% |
| 31 March 2024 | 10.81% | 10.89% |
| 31 March 2025 | 4.53% | 4.36% |
| 31 March 2026 | 8.23% | 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 |
| Hayden Griffiths | Head of Asset Allocation, JBWere | 29 years, 11 months |
| Phil Borkin | Senior Strategist, JBWere | 7 years, 3 months |
| Rickey Ward | Head of Investment Strategy & Research, JBWere | 11 months |