Medical Funds Management Limited
Growth Fund
MAS KiwiSaver SchemeGrowth
What the provider says about this fund
The Growth Fund invests mainly in growth assets with a modest allocation to income assets. The Fund aims to provide strong returns over the long term. It is suitable for investors who are prepared to accept a high level of investment risk to potentially achieve a high return.
1-year return
10.51%
5-year return p.a.
5.46%
Total annual fee
0.98%
Fund size ($m)
524.9
Members
5,957
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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4
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7
Lower riskHigher risk
Investment mix
Growth assets
79.24%
Income assets
20.76%
| Asset class | Actual | Target | Average for Growth funds |
|---|---|---|---|
| Australasian shares | 24.87% | 24.50% | 20.20% |
| Cash and equivalents | 2.20% | 1.50% | 6.14% |
| Commodities | 0.00% | 0.00% | 0.14% |
| International bonds | 11.53% | 12.00% | 8.75% |
| International shares | 54.37% | 55.50% | 51.02% |
| Listed property | 0.00% | 0.00% | 3.65% |
| New Zealand bonds | 7.03% | 6.50% | 7.35% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.70% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Hunter Global Fixed Interest Fund | Bonds | International Fixed Interest | NZ | 11.53% |
| 2 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 4.12% |
| 3 | Infratil Ltd | Shares | Australasian Equities | NZ | 3.12% |
| 4 | Apple Inc | Shares | International Equities | US | 2.39% |
| 5 | Nvidia Corp | Shares | International Equities | US | 2.24% |
| 6 | JBWere Premium Custody Call Account - NZD | Cash | Cash and Cash Equivalents | NZ | 2.03% |
| 7 | Auckland International Airport Ltd | Shares | Australasian Equities | NZ | 1.91% |
| 8 | Alphabet Inc Class A | Shares | International Equities | US | 1.82% |
| 9 | Microsoft Corp | Shares | International Equities | US | 1.76% |
| 10 | Meridian Energy Limited | Shares | Australasian Equities | NZ | 1.60% |
Fees
0.98% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Growth funds |
|---|---|---|---|
| Management fees | 0.86% | $258 | 0.92% |
| Other fees | 0.12% | $36 | 0.10% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.98% | $294 | 1.07% |
Yearly returns
| Year ending | Fund return | Average for Growth funds |
|---|---|---|
| 31 March 2017 | 10.64% | 8.61% |
| 31 March 2018 | 5.66% | 7.38% |
| 31 March 2019 | 6.46% | 7.03% |
| 31 March 2020 | -0.34% | -3.37% |
| 31 March 2021 | 26.91% | 28.64% |
| 31 March 2022 | 2.98% | 2.17% |
| 31 March 2023 | -3.36% | -3.69% |
| 31 March 2024 | 13.21% | 14.25% |
| 31 March 2025 | 4.78% | 3.98% |
| 31 March 2026 | 10.51% | 7.60% |
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 |