Medical Assurance Society KiwiSaver Plan
Medical Assurance Society Balanced Fund

In their own words: "The Balanced Fund aims to provide capital growth. It invests in a mix of around 45% in Income assets (such as cash and New Zealand and international fixed interest) and around 55% in Growth assets (such as Australasian and international equities). It is suited to members looking for long term growth willing to accept moderate volatility."

At a glance:

Not Mindful
Type: Balanced fund
Past Returns: *5.05%

Average annual returns over the past 3 years, after fees and taxes. *indicates less than three years of data.

Annual Fees: 1.19%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND1159
Name Medical Assurance Society Balanced Fund
Risk profile Balanced fund
Description The Balanced Fund aims to provide capital growth. It invests in a mix of around 45% in Income assets (such as cash and New Zealand and international fixed interest) and around 55% in Growth assets (such as Australasian and international equities). It is suited to members looking for long term growth willing to accept moderate volatility.
Value $240M NZD
Members 5,866
Market index description The market index return is the benchmark asset allocation weighted benchmark index return, where the benchmark indices are defined in the Statement of Investment Policy and Objectives.
Disclosure Statement Period Sun March 31st 2019
Fund started Mon Oct. 1st 2007
Three-year average return *5.05%
Market index past year return 7.60%
Past year return net charges and tax 5.21%
Past year return net of charges gross of tax 6.04%
Market index return since fund started 7.68%
Return since fund started net 6.48%
Total annual fund fees 1.19%
Total performance based fees 0.0%
Manager's basic fee 1.02%
Administration charges 0.17%
Total other charges 0.0
Total other charges currency NZD

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

The past annual returns for this fund. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2019 5.68% 5.21%
2018 5.63% 4.89%
2017 6.10% 8.31%
2016 4.01% 1.2%
2015 11.09% 13.43%
2014 7.28% 8.12%
2013 10.75% 9.24%
2012 1.75% -2.96%
2011 5.30% 5.29%
2010 16.19% 13.19%

The market index is the average NZ KiwiSaver return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Showing the top 10 investments for this fund:

  • Hunter Global Fixed Interest Fund
    New Zealand International Fixed Interest
    24.98%
  • Vector Bond 14/03/2024 4.996%
    New Zealand New Zealand Fixed Interest BBB
    5.64%
  • Jbwere Premium Custody Call Account
    New Zealand Cash and Equivalents
    3.23%
  • Chorus Bond 6/12/2028 4.35%
    New Zealand New Zealand Fixed Interest BBB
    2.94%
  • Spdr Tech Select Exchange Traded Fund
    United States New Zealand Fixed Interest
    2.74%
  • Spdr S&P Bank Exchange Traded Fund
    United States New Zealand Fixed Interest
    2.26%
  • Jbwere Premium Custody Call Account
    New Zealand Cash and Equivalents
    2.25%
  • Health Care Select Exchange Traded Fund
    United States International Equities
    1.66%
  • A2 Milk Company Limited
    New Zealand Australasian Equities
    1.52%
  • ANZ Bond 20/03/2024 3.03%
    New Zealand New Zealand Fixed Interest AA-
    1.26%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 4.0% 5.42%
New Zealand Fixed Interest 16.0% 15.93%
International Fixed Interest 25.0% 24.98%
Australasian Equities 17.0% 15.74%
International Equities 38.0% 37.93%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Unknown None% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Key Personnel

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (22 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (16 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (22 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (0 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (14 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Is it excluded?
    Portfolio analysis
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.14%
  • Animal Testing:
    2.05%
  • Fossil Fuels:
    0.12%
  • Gambling:
    0.27%
  • GMOs:
    0.14%
  • Human Rights & Environmental Violations:
    0.03%
  • Palm Oil:
    0.02%
  • Tobacco:
    0.00%
  • Weapons:
    0.04%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 30 September 2019 and Mindful Money analysis of funds within those portfolios. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund and research organisations.

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

Note that many KiwiSaver funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons

Specific companies invested in:

Fossil Fuel

Energy Transfer Partners Lp 150325 4.05 Cb 0.05%
Kinder Morgan Inc 011219 3.05 Cb 0.03%
Andeavor Logistics Lp 151019 5.50 Cb 0.02%
Energy Transfer Partners Lp 011020 4.15 Cb 0.01%

Weapons

Textron Inc 101120 Frn 0.03%

Gambling

Sky City Entertainment Group 0.10%
Aristocrat Leisure Ltd 0.09%
Mgm Resorts International 011020 6.75 Cb 0.03%
Sands China Ltd 080828 5.4 Cb 0.02%
Sands China Ltd 080825 5.125 Cb 0.01%
Mgm Resorts International151221 6.625 Cb 0.01%

Alcohol

Anheuser Busch Inbev Nv 070325 1.75 Cb 0.06%
Pernod Ricard Sa 150122 4.45 Cb 0.05%
Pernod Ricard Sa 070421 5.75 Cb 0.02%

Palm Oil

Astra International 0.02%

GMOs

Syngenta Finance Ag 230421 3.933 Cb 0.07%
Dupont De Nemours Inc 0.07%

Human Rights & Environmental Violations

Astra International 0.02%

Animal Testing

Syngenta Finance Ag 230421 3.933 Cb 0.067%
Danone Sa 021121 2.077 Cb 0.054%
Tesco Property Finance Plc 130440 5.744 Sf 0.041%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.023%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.023%
Reckitt Benckiser Treasury Services Plc 240622 Frn 0.021%
Bayer US Finance Ii Llc 250621 3.50 Cb 0.010%
Bayer US Finance Ii Llc250621 Frn 0.010%
Procter & Gamble 0.439%
Pepsico Inc 0.268%
Unilever Nv 0.124%
Unilever Plc 0.091%
Colgate-Palmolive 0.080%
Danone Sa 0.077%
Reckitt Benckiser Group Plc 0.075%
Kimberly Clark Corp 0.069%
Estee Lauder Inc Class A 0.063%
General Mills Inc 0.047%
Shiseido Ltd 0.047%
Ppg Industries Inc 0.041%
Givaudan Sa 0.036%
Koninkilijke Dsm Nv 0.033%
Akzo Nobel Nv 0.030%
Clorox 0.028%
Henkel & Kgaa Pref Ag 0.025%
Coca Cola European Partners Plc 0.019%
International Flavors & Fragrances 0.019%
Beiersdorf Ag 0.017%
Burberry Group Plc 0.017%
Associated British Foods Plc 0.014%
Henkel Ag 0.014%
Solvay Sa 0.014%
Chr Hansen Holding 0.014%
Croda International Plc 0.011%

Download the fund's disclosure statement and portfolio holdings.

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Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital investment. Past returns are not a guide to future returns. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Advisers Act 2008 and any associated regulations.

Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.