Issues of concern

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.

Key:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Meta Platforms Inc-Class A 0.45%
    • Johnson & Johnson 0.32%
    • Thermo Fisher Scientific Inc 0.26%
    • Wells Fargo & Co 0.08%
    • Caterpillar Inc 0.07%
    • Motorola Solutions Inc 0.07%
    • Uber Technologies Inc 0.05%
    • Alstom 0.04%
    • Credit Suisse Group AG 0.04%
    • Credit Suisse AG London 0.02%
    • Rio Tinto PLC 0.02%
    • Archer-Daniels-Midland Co 0.04%
    • Energy Transfer Lp 0.03% !!
      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
    • 3M Co 0.02%
    • Bayer AG-Reg 0.02%
    • Corteva Inc 0.02%
    • Fmc Corp 0.02%
    • Southern Copper Corp 0.02%
    • Bayer US Finance Ii Llc 0.01%
    • Procter & Gamble Co/The 0.19%
    • Sherwin-Williams Co/The 0.10%
    • LVMH Moet Hennessy Louis Vui 0.09%
    • L'Oreal 0.06%
    • Church & Dwight Co Inc 0.05%
    • Colgate-Palmolive Co 0.05%
    • Novozymes A/S-B Shares 0.05%
    • Kimberly-Clark Corp 0.04%
    • PPG Industries Inc 0.04%
    • Unilever PLC 0.04%
    • Albemarle Corp 0.03%
    • Clorox Company 0.03%
    • Estee Lauder Companies-Cl A 0.03%
    • Hormel Foods Corp 0.03%
    • Seiko Epson Corp 0.03%
    • 3M Co 0.02%
    • Akzo Nobel N.V. 0.02%
    • Bayer AG-Reg 0.02%
    • Corteva Inc 0.02%
    • Fmc Corp 0.02%
    • Hanwha Solutions Corp 0.02%
    • Hermes International 0.02%
    • Livent Corp 0.02%
    • Shin-Etsu Chemical Co Ltd 0.02%
    • Bayer US Finance Ii Llc 0.01%
    • Dupont De Nemours Inc 0.01%
    • Kering 0.01%
    • Rentokil Initial PLC 0.01%
    • Umicore 0.01%
    • Walmart Inc 0.13%
    • Transdigm Group Inc 0.07%
    • Amphenol Corp-Cl A 0.04%
    • Booz Allen Hamilton Holdings 0.03%
    • Heico Corp 0.03%
    • Mtu Aero Engines AG 0.03%
    • Teledyne Technologies Inc 0.03%
    • Daikin Industries Ltd 0.02%
    • Heico Corp-Class A 0.02%
    • Howmet Aerospace Inc 0.02%
    • Verbund AG 0.05% 1.5°C
      This company is on a 1.5°C pathway
    • Constellation Energy 0.04%
    • Sumitomo Corp. 0.04% !!
      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
    • Cassa Depositi E Prestit 0.03%
    • Energy Transfer Lp 0.03% !!
      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
    • China Longyuan Power Group-H 0.02%
    • Rio Tinto PLC 0.02%
    • Weg SA 0.02%
    • Fairfax Finl Hldgs Ltd 0.01%
    • Mitsubishi 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
    • Sichuan Chuantou Energy Co-A 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 30th Sept. 2023 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.

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.

MAS is a membership-based insurance and investment company for New Zealand professionals. As a mutual society, our customers become Members. We're owned by our Members so we don't have to generate big profits for external shareholders. And because MAS advisers are paid a salary with no commissions, you can be sure we have your best interest at heart. We were founded by doctors for doctors in 1921, and now more than 80% of the medical profession insure with MAS. Today we welcome all professionals along with their friends and families. If you'd like to discuss insurance, investments or lending, we'd love to talk.

Value $355M NZD
Period of data report 31st Dec. 2023
Members 5,215
Fund started 1st Oct. 2007
Total annual fund fees 1.08%
Total performance based fees 0.0%
Manager's basic fee 0.95%
Other management and administration charges 0.13%
Total other charges 0.0
Total other charges currency NZD

Bruce Robertson

Currently: Portfolio manager, JBWere (26 years, 9 months)
Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

Tom Phillips

Currently: Portfolio manager, JBWere (19 years, 4 months)
Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

Earl White

Currently: Executive Advisor, Bancorp Treasury (20 years, 11 months)
Previously: Treasurer, BNP Paribas (8 years, 7 months)

Phil Borkin

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

Hayden Griffiths

Currently: Head of Asset allocation, JBWere (27 years, 8 months)
Previously: Analyst, BZW (2 years, 5 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.

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
2023 -2.79% -3.1%
2022 1.34% 1.45%
2021 17.98% 20.54%
2020 -1.40% 0.35%
2019 5.81% 5.21%
2018 5.28% 4.89%
2017 5.86% 8.31%
2016 4.01% 1.2%
2015 11.09% 13.43%
2014 7.28% 8.12%

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 Dec. 2023.

Top 10 Investments

  • Hunter Global Fixed Interest Fund
    New Zealand Int Fixed Interest
    22.14%
  • Jbwere Premium Custody Call Account - NZD
    New Zealand Cash and Equivalents
    5.08%
  • Infratil Ltd
    New Zealand Australasian Equities
    2.51%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    2.04%
  • Bank Of New Zealand 4.985% 07/06/2027
    New Zealand NZ Fixed Interest AA-
    1.69%
  • Apple Inc
    United States International Equities
    1.44%
  • Meridian Energy Limited
    New Zealand Australasian Equities
    1.38%
  • Microsoft Corp
    United States International Equities
    1.31%
  • Nzdusd Maturing 30/01/2024 (Bzl NZ)
    New Zealand International Equities
    1.23%
  • Mainfreight Ltd
    New Zealand Australasian Equities
    1.22%
Type Target Actual
Cash and Cash Equivalents 3.5% 6.92%
New Zealand Fixed Interest 14.0% 13.92%
International Fixed Interest 22.5% 22.14%
Australasian Equities 18.5% 18.74%
International Equities 41.5% 38.28%
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 against the fund's targets.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.