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Medical Assurance Society Moderate Fund

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Not Mindful
Type: Balanced fund
Past Returns: 3.00%

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

Annual Fees: 1.19%

Annual fees, including any membership and % management fee.

The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.

Fossil Fuel

Enbridge Inc 180222 Frn 0.08%
Energy Transfer Partners Lp 150325 4.05 Cb 0.08%

Weapons

Gambling

Las Vegas Sands Corp 250625 2.90 Cb 0.11%
Sands China Ltd 080828 5.4 Cb 0.05%
Sands China Ltd 080825 5.125 Cb 0.02%

Alcohol

Anheuser Busch Inbev Nv 070325 1.75 Cb 0.10%
Pernod Ricard Sa 150122 4.45 Cb 0.09%
Pernod Ricard Sa 070421 5.75 Cb 0.03%

Palm Oil

GMOs

Syngenta Finance Ag 230421 3.933 Cb 0.11%
Dupont De Nemours Inc. 0.02%

Human Rights & Environmental Violations

Johnson & Johnson 0.08%

Animal Testing

Syngenta Finance Ag 230421 3.933 Cb 0.110%
Danone Sa 021121 2.077 Cb 0.090%
Tesco Property Finance Plc 130440 5.744 Sf 0.070%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.040%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.040%
Reckitt Benckiser Treasury Services Plc 240622 Frn 0.040%
Bayer US Finance Ii Llc 250621 3.50 Cb 0.020%
Bayer US Finance Ii Llc250621 Frn 0.020%
Procter & Gamble Co. 0.300%
Pepsico Inc. 0.180%
Unilever Nv 0.080%
L'Oreal Sa 0.070%
Unilever Plc 0.060%
Reckitt Benckiser Group Plc 0.060%
Colgate-Palmolive Co. 0.060%
Kimberly-Clark Corporation 0.050%
Danone Sa 0.040%
Kao Corporation 0.040%
Estee Lauder Companies - Class A 0.040%
General Mills Inc. 0.030%
Givaudan 0.030%
Shiseido Co. Ltd. 0.030%
Koninklijke Dsm Nv 0.020%
Clorox Company 0.020%
Ppg Industries Inc. 0.020%
Akzo Nobel Nv 0.020%
Henkel Ag & Co Kgaa - Non-Voting 0.020%
International Flavors & Fragrances Inc. 0.010%
Johnson & Johnson 0.080%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Tue March 31st 2020 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.

A summary of this fund and its details.

Number FND1158
Name Medical Assurance Society Moderate Fund
Risk profile Balanced fund
Description The Moderate Fund aims to provide stable returns. It invests predominantly (around 65%) in Income assets (such as cash and New Zealand and international fixed interest), and around 35% in Growth assets (such as Australasian and international equities) to provide the opportunity for some capital growth over time. It may be more suited to investors wanting a strong emphasis on the security of their savings but who also want a degree of capital growth. This Fund is certified by the Responsible Investment Association of Australasia (RIAA) and engages with companies to improve their performance.
Value $62M NZD
Members 1,784
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.
Period of data report Tue March 31st 2020
Fund started Mon Oct. 1st 2007
Three-year average return 3.00%
Market index past year return 1.89%
Past year return net of charges and tax 0.66%
Past year return net of charges gross of tax 0.47%
Market index return since fund started 5.95%
Return since fund started net 4.69%
Total annual fund fees 1.19%
Total performance based fees 0.0%
Manager's basic fee 1.01%
Administration charges 0.18%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Bruce Robertson

    Currently: Portfolio manager, JBWere (23 years, 0 months)
    Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Earl White

    Currently: Executive Advisor, Bancorp Treasury (17 years, 2 months)
    Previously: Treasurer, BNP Paribas (8 years, 7 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Hayden Griffiths

    Currently: Asset allocation, JBWere (23 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Phil Borkin

    Currently: Senior Strategist, JBWere (1 years, 3 months)
    Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio Manager (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 years, 7 months)
    Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

  • Tom Phillips

    Currently: Portfolio manager, JBWere (15 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 Tue March 31st 2020.

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2020 -1.89% 0.66%
2019 5.68% 4.17%
2018 5.63% 4.16%
2017 6.10% 6.38%
2016 4.01% 1.16%
2015 11.09% 11.4%
2014 7.28% 5.84%
2013 10.75% 7.99%
2012 1.75% 0.15%
2011 5.30% 5.56%

The market average is the average 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 Tue March 31st 2020.

Showing the top 10 investments for this fund:

  • Hunter Global Fixed Interest Fund
    New Zealand International Fixed Interest
    41.64%
  • Jbwere Premium Custody Call Account - NZD
    New Zealand Cash and Equivalents
    5.84%
  • NZ Govt. Inflation Indexed Bond 20/09/2030
    New Zealand New Zealand Fixed Interest AA+
    2.22%
  • Vector Bond 14/03/2024
    New Zealand New Zealand Fixed Interest BBB
    2.1%
  • Insurance Australia Group Subordinated Bond 15/06/2043
    New Zealand New Zealand Fixed Interest BBB
    2.06%
  • Chorus Bond 6/12/2028
    New Zealand New Zealand Fixed Interest BBB
    1.91%
  • ANZ Bank Bond 20/03/2024
    New Zealand New Zealand Fixed Interest AA-
    1.67%
  • BNZ Term Deposit
    New Zealand Cash and Equivalents A-1+
    1.64%
  • BNZ Term Deposit
    New Zealand Cash and Equivalents A-1+
    1.64%
  • Bank Of China Bond 17/10/2022
    New Zealand New Zealand Fixed Interest A
    1.61%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register 30 June 2020 .

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 6.0% 10.75%
New Zealand Fixed Interest 21.0% 17.1%
International Fixed Interest 38.0% 41.6%
Australasian Equities 11.0% 9.53%
International Equities 24.0% 21.02%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 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 June 2020 .

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
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.22%
  • Animal Testing:
    1.82%
  • Fossil Fuels:
    0.17%
  • Gambling:
    0.17%
  • GMOs:
    0.15%
  • Human Rights & Environmental Violations:
    0.09%
  • Palm Oil:
    0.02%
  • Tobacco:
    0.00%
  • Weapons:
    0.01%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Tue March 31st 2020 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.

In their own words: "The Moderate Fund aims to provide stable returns. It invests predominantly (around 65%) in Income assets (such as cash and New Zealand and international fixed interest), and around 35% in Growth assets (such as Australasian and international equities) to provide the opportunity for some capital growth over time. It may be more suited to investors wanting a strong emphasis on the security of their savings but who also want a degree of capital growth. This Fund is certified by the Responsible Investment Association of Australasia (RIAA) and engages with companies to improve their performance."

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 invested. 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.