Funds

This is a Mindful fund MAS KiwiSaver Moderate Fund

Total Ethical Concerns: 3.78%

The average total concerns of all KiwiSaver balanced funds is 5.99%.

Companies of Concern

  • Animal Cruelty 0.93%

    • The Sherwin-Williams Co.
      0.11%
      0.11%
    • 0.08%
    • Akzo Nobel Nv
      0.05%
      0.05%
    • Novozymes A/S
      0.05%
      0.05%
    • Church & Dwight Co., Inc.
      0.03%
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • L'Oréal SA
      0.03%
      0.03%
    • Bayer
      0.02%
      0.02%
    • Kimberly-Clark Corp.
      0.02%
      0.02%
    • PPG Industries, Inc.
      0.02%
      0.02%
    • Rpm International, Inc.
      0.02%
      0.02%
    • Shin-Etsu Chemical Co., Ltd.
      0.02%
      0.02%
    • The Clorox Co.
      0.02%
      0.02%
    • Umicore
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Albemarle Corp.
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • Hormel Foods Corp
      0.01%
      0.01%
    • Seiko Epson Corp.
      0.01%
      0.01%
  • Human Rights Violations 2.07%

    • 0.75%
    • Ubs
      0.58%
      0.58%
    • Wells Fargo
      0.36%
      0.36%
    • 0.14%
    • Caterpillar
      0.03%
      0.03%
    • 0.02%
    • Alstom S.A
      0.01%
      0.01%
    • Rio Tinto
      0.01%
      0.01%
  • Social Harm 0.19%

  • Fossil Fuels 0.17%

    • Cassa Depositi E Prestiti Spa
      0.03%
      0.03%
    • Dassault Systèmes Se
      0.03%
      0.03%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Mitsubishi Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Fairfax Financial Holdings Ltd.
      0.01%
      0.01%
    • Itochu Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Rio Tinto
      0.01%
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • Weg SA
      0.01%
      0.01%
  • Weapons 0.28%

    • Transdigm Group, Inc.
      0.05%
      0.05%
    • 0.05%
    • Amphenol Corp.
      0.03%
      0.03%
    • Heico Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.03%
      0.03%
    • Booz Allen Hamilton Holding Corp.
      0.02%
      0.02%
    • Mtu Aero Engines AG
      0.02%
      0.02%
    • Daikin Industries Ltd.
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm 0.24%

    • Coca-Cola
      0.05%
      0.05%
    • Pepsico
      0.05%
      0.05%
    • Archer-Daniels Midland
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Mitsubishi Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Mondelez
      0.02%
      0.02%
    • Southern Copper Corporation
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    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.

    MAS is proud to be a New Zealand-owned insurance and investment company that’s been enhancing the financial health and wellbeing of our Members since 1921. Originally founded by doctors for doctors, today we support all New Zealand professionals and their families with a range of insurance and investment solutions to help grow your wealth and protect what’s important. As a mutual we're owned by our Members, so we have your best interests at heart and not a single dollar goes to offshore shareholders. If you'd like to discuss your insurance or investment requirements, we'd love to talk.

    Value $83.8M NZD
    Period of data report 31st March 2025
    Members 1,398
    Fund started 1st Oct. 2007
    Total annual fund fees 0.95%
    Total performance based fees 0.0%
    Manager's basic fee 0.78%
    Other management and administration charges 0.17%
    Total other charges 0.0
    Total other charges currency NZD

    Brendan O’Donovan

    Currently: Chair Investment Committee (7 years, 9 months)
    Previously: Independent Director, MAS (3 years, 8 months)

    Daniel Mead

    Currently: Head of Investment (1 years, 8 months)
    Previously: Senior Portfolio Manager, AMP (2 years, 4 months)

    Hayden Griffiths

    Currently: Head of Asset Allocation, JBWere (28 years, 11 months)
    Previously: Analyst, BZW (2 years, 5 months)

    Rickey Ward

    Currently: Australasian Equity Manager, JBWere (10 years, 11 months)
    Previously: Head of Australasian Equities, Nikko Asset Management (20 years, 0 months)

    Fergus Mcdonald

    Currently: Head of Bonds and Currency, Nikko Asset Management (24 years, 9 months)
    Previously: NZ Fixed Interest Portfolio Manager, Nikko Asset Management (10 years, 5 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    Past Returns

    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
    2025 4.34% 4.26%
    2024 10.86% 8.5%
    2023 -2.79% -2.88%
    2022 1.34% -0.04%
    2021 17.98% 14.47%
    2020 -1.40% 0.66%
    2019 5.81% 4.17%
    2018 5.28% 4.16%
    2017 5.86% 6.38%
    2016 4.01% 1.16%

    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 31st March 2025.

  • Investments

    Top 10 Investments

    • Hunter Global Fixed Interest Fund

      New Zealand Int Fixed Interest

      33.58%
    • Jbwere Premium Custody Call Account - NZD

      New Zealand Cash and Equivalents

      3.84%
    • Fisher & Paykel Healthcare Ltd

      New Zealand Australasian Equities

      1.71%
    • Infratil Ltd

      New Zealand Australasian Equities

      1.55%
    • Chorus Limited 4.35% 06/12/2028

      New Zealand NZ Fixed Interest BBB

      1.28%
    • Kiwibank 6.254% 19/10/2028

      New Zealand NZ Fixed Interest A+

      1.26%
    • New Zealand Government 1.5% 15/05/2031

      New Zealand NZ Fixed Interest AAA

      1.2%
    • New Zealand Government 4.5% 15/05/2035

      New Zealand NZ Fixed Interest AAA

      1.16%
    • Auckland International Airport 6.22% 02/11/2029

      New Zealand NZ Fixed Interest A-

      1.03%
    • Apple Inc

      United States International Equities

      0.97%
    Type Target Actual
    Cash and Cash Equivalents 5.5% 6.1%
    New Zealand Fixed Interest 19.5% 20.86%
    International Fixed Interest 35.0% 33.58%
    Australasian Equities 12.5% 12.15%
    International Equities 27.5% 27.31%
    Listed Properties 0.0% 0.0%
    Unlisted Properties 0.0% 0.0%
    Other 0.0% 0.0%
    Commodities 0.0% 0.0%

    Investment Mix

    How the money in this fund is invested by asset type.

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31st March 2025 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, Sustainalytics and research organisations.

Please note that companies may breach more than one of these areas of concern.

The listing of companies of concern is based on definitions used in Mindful Money's methodology. These definitions may be different from the exclusions policy and definitions applied by the fund provider.

Mindful Money uses the term Mindful Funds as our standard for ethical investment and responsible investment. This does not imply that other funds are unethical or that the fund providers that do not meet these standards are unethical providers.

Issues of Concern

  • 0.93% Animal Cruelty
  • 2.07% Human Rights Violations
  • 0.19% Social Harm
  • 0.17% Fossil Fuels
  • 0.28% Weapons
  • 0.24% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • The Sherwin-Williams Co.
      0.11%
      0.11%
    • 0.08%
    • Akzo Nobel Nv
      0.05%
      0.05%
    • Novozymes A/S
      0.05%
      0.05%
    • Church & Dwight Co., Inc.
      0.03%
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • L'Oréal SA
      0.03%
      0.03%
    • Bayer
      0.02%
      0.02%
    • Kimberly-Clark Corp.
      0.02%
      0.02%
    • PPG Industries, Inc.
      0.02%
      0.02%
    • Rpm International, Inc.
      0.02%
      0.02%
    • Shin-Etsu Chemical Co., Ltd.
      0.02%
      0.02%
    • The Clorox Co.
      0.02%
      0.02%
    • Umicore
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Albemarle Corp.
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • Hormel Foods Corp
      0.01%
      0.01%
    • Seiko Epson Corp.
      0.01%
      0.01%
  • Human Rights Violations

    • 0.75%
    • Ubs
      0.58%
      0.58%
    • Wells Fargo
      0.36%
      0.36%
    • 0.14%
    • Caterpillar
      0.03%
      0.03%
    • 0.02%
    • Alstom S.A
      0.01%
      0.01%
    • Rio Tinto
      0.01%
      0.01%
  • Fossil Fuels

    • Cassa Depositi E Prestiti Spa
      0.03%
      0.03%
    • Dassault Systèmes Se
      0.03%
      0.03%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Mitsubishi Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Fairfax Financial Holdings Ltd.
      0.01%
      0.01%
    • Itochu Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Rio Tinto
      0.01%
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • Weg SA
      0.01%
      0.01%
  • Weapons

    • Transdigm Group, Inc.
      0.05%
      0.05%
    • 0.05%
    • Amphenol Corp.
      0.03%
      0.03%
    • Heico Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.03%
      0.03%
    • Booz Allen Hamilton Holding Corp.
      0.02%
      0.02%
    • Mtu Aero Engines AG
      0.02%
      0.02%
    • Daikin Industries Ltd.
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm

    • Coca-Cola
      0.05%
      0.05%
    • Pepsico
      0.05%
      0.05%
    • Archer-Daniels Midland
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Mitsubishi Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Mondelez
      0.02%
      0.02%
    • Southern Copper Corporation
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%

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.

MAS is proud to be a New Zealand-owned insurance and investment company that’s been enhancing the financial health and wellbeing of our Members since 1921. Originally founded by doctors for doctors, today we support all New Zealand professionals and their families with a range of insurance and investment solutions to help grow your wealth and protect what’s important. As a mutual we're owned by our Members, so we have your best interests at heart and not a single dollar goes to offshore shareholders. If you'd like to discuss your insurance or investment requirements, we'd love to talk.

Value $83.8M NZD
Period of data report 31st March 2025
Members 1,398
Fund started 1st Oct. 2007
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.78%
Other management and administration charges 0.17%
Total other charges 0.0
Total other charges currency NZD

Brendan O’Donovan

Currently: Chair Investment Committee (7 years, 9 months)
Previously: Independent Director, MAS (3 years, 8 months)

Daniel Mead

Currently: Head of Investment (1 years, 8 months)
Previously: Senior Portfolio Manager, AMP (2 years, 4 months)

Hayden Griffiths

Currently: Head of Asset Allocation, JBWere (28 years, 11 months)
Previously: Analyst, BZW (2 years, 5 months)

Rickey Ward

Currently: Australasian Equity Manager, JBWere (10 years, 11 months)
Previously: Head of Australasian Equities, Nikko Asset Management (20 years, 0 months)

Fergus Mcdonald

Currently: Head of Bonds and Currency, Nikko Asset Management (24 years, 9 months)
Previously: NZ Fixed Interest Portfolio Manager, Nikko Asset Management (10 years, 5 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

Past Returns

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
2025 4.34% 4.26%
2024 10.86% 8.5%
2023 -2.79% -2.88%
2022 1.34% -0.04%
2021 17.98% 14.47%
2020 -1.40% 0.66%
2019 5.81% 4.17%
2018 5.28% 4.16%
2017 5.86% 6.38%
2016 4.01% 1.16%

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 31st March 2025.

Top 10 Investments

  • Hunter Global Fixed Interest Fund

    New Zealand Int Fixed Interest

    33.58%
  • Jbwere Premium Custody Call Account - NZD

    New Zealand Cash and Equivalents

    3.84%
  • Fisher & Paykel Healthcare Ltd

    New Zealand Australasian Equities

    1.71%
  • Infratil Ltd

    New Zealand Australasian Equities

    1.55%
  • Chorus Limited 4.35% 06/12/2028

    New Zealand NZ Fixed Interest BBB

    1.28%
  • Kiwibank 6.254% 19/10/2028

    New Zealand NZ Fixed Interest A+

    1.26%
  • New Zealand Government 1.5% 15/05/2031

    New Zealand NZ Fixed Interest AAA

    1.2%
  • New Zealand Government 4.5% 15/05/2035

    New Zealand NZ Fixed Interest AAA

    1.16%
  • Auckland International Airport 6.22% 02/11/2029

    New Zealand NZ Fixed Interest A-

    1.03%
  • Apple Inc

    United States International Equities

    0.97%
Type Target Actual
Cash and Cash Equivalents 5.5% 6.1%
New Zealand Fixed Interest 19.5% 20.86%
International Fixed Interest 35.0% 33.58%
Australasian Equities 12.5% 12.15%
International Equities 27.5% 27.31%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

Investment Mix

How the money in this fund is invested by asset type.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.