MAS Balanced Fund

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Fund type: Balanced fund

Past Returns: 7.40%

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

Annual Fees: 1.11%

Annual fees, including management and administration fees, but not membership 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

Energy Transfer Partners Lp 150325 4.05 Cb 0.04%
Itochu Corp 0.04%
Marubeni Corp 0.02%
Nippon Steel Corp 0.02%
Anglo American PLC 0.01%
Citic Ltd 0.01%
Citic Securities Ltd A 0.01%
Eqt 0.01%
Hapvida Participacoes E Investimen 0.01%
Lg Corp 0.01%
Nippon Yusen 0.01%
Sumitomo Chemical Ltd 0.01%
Taiwan Cement Corp 0.01%

Weapons

Booz Allen Hamilton Holding Corp C 0.02%
Walmart Inc 0.02%
Amphenol Corp Class A 0.01%
Howmet Aerospace Inc 0.01%
Jfe Holdings Inc 0.01%
Mtu Aero Engines Holding AG 0.01%

Tobacco

Eve Energy Ltd A 0.01%
Yunnan Energy New Materials Ltd A 0.01%

Gambling

Flutter Entertainment PLC 0.01%

Alcohol

Brown Forman Corp Class B 0.03%
Diageo PLC 0.03%
Constellation Brands Inc Class A 0.02%
Wuliangye Yibin Ltd A 0.01%

GMOs

Corteva Inc 0.02%

Human Rights & Environmental Violations

Thermo Fisher Scientific Inc 0.41%
Caterpillar Inc 0.13%
Johnson & Johnson 0.11%
Credit Suisse AG 080823 6.50 Cb 0.10%
Credit Suisse Group AG 120833 6.537 Cb 0.10%
Credit Suisse Mortgage Tr Series 20 Fact Cls A 151037 Abs 0.06%
Meta Platforms Inc Class A 0.06%
Motorola Solutions Inc 0.06%
Nutrien Ltd 0.06%
Wells Fargo and Co 240328 3.526 Cb 0.06%
Activision Blizzard Inc 0.05%
Archer Daniels Midland 0.05%
Credit Suisse Group AG 020432 2.875 Cb 0.05%
Energy Transfer Partners Lp 150325 4.05 Cb 0.05%
Credit Suisse AG 070933 7.375 Cb 0.03%
Credit Suisse AG London 050126 0.25 Cb 0.03%
Bank Leumi Le Israel 0.02%
Bayer AG 0.02%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.02%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.02%
Corteva Inc 0.02%
Credit Suisse Group AG 120624 4.207 Cb 0.02%
Credit Suisse Group AG 240627 1.00 Cb 0.02%
Rio Tinto PLC 0.02%
Evergreen Marine Corp (Taiwan) Ltd 0.01%
Wells Fargo 0.01%

Animal Testing

Procter & Gamble 0.56%
Coca-Cola 0.42%
Pepsico Inc 0.42%
Unilever PLC 0.18%
Kimberly Clark Corp 0.11%
Loreal SA 0.10%
General Mills Inc 0.08%
Lair Liquide Societe Anonyme Pour 0.08%
Sherwin Williams 0.08%
Compagnie Financiere Richemont SA 0.07%
Ecolab Inc 0.07%
Estee Lauder Inc Class 0.07%
Nutrien Ltd 0.06%
Archer Daniels Midland 0.05%
Church and Dwight Inc 0.05%
Clorox 0.05%
Daikin Industries Ltd 0.05%
Hormel Foods Corp 0.05%
Keurig Dr Pepper Inc 0.05%
PPG Industries Inc 0.05%
Danone SA 0.04%
Givaudan SA 0.04%
Kering SA 0.04%
Essity Class B 0.03%
International Flavors & Fragrances 0.03%
Kao Corp 0.03%
Kellogg 0.03%
Koninkilijke Dsm Nv 0.03%
Koninklijke Ahold Delhaize Nv 0.03%
Mondelez International Inc Class A 0.03%
Swpc0Gvu2 Ccp Sell Cds EUR 200625 Tesco PLC 1% Ms 0.03%
Umicore SA 0.03%
3M 0.02%
Ajinomoto Inc 0.02%
Albemarle Corp 0.02%
Bayer AG 0.02%
Campbell Soup 0.02%
Constellation Brands Inc Class A 0.02%
Corteva Inc 0.02%
Croda International PLC 0.02%
Fujifilm Holdings Corp 0.02%
Kerry Group PLC 0.02%
Mosaic 0.02%
Novozymes B 0.02%
Ping An Insurance (Group) Of China 0.02%
Sgs SA 0.02%
Shiseido Ltd 0.02%
Symrise AG 0.02%
Tesco Property Finance PLC 130440 5.744 Sf 0.02%
Unicharm Corp 0.02%
Akzo Nobel Nv 0.01%
Associated British Foods PLC 0.01%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.01%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.01%
Beiersdorf AG 0.01%
Burberry Group PLC 0.01%
Celanese Corp 0.01%
Chr Hansen Holding 0.01%
Clariant AG 0.01%
Darling Ingredients Inc 0.01%
George Weston Ltd 0.01%
Hanwha Solutions Corp 0.01%
Henkel & Kgaa Pref AG 0.01%
Henkel AG 0.01%
Inner Mongolia Yili Industrial Gro 0.01%
Intertek Group PLC 0.01%
Kikkoman Corp 0.01%
Kimberly-Clark De Mexico Class A 0.01%
Kraft Heinz 0.01%
Lg H & H Ltd 0.01%
Meiji Holdings Ltd 0.01%
Mitsubishi Chemical Group Corp 0.01%
Mowi 0.01%
Nan Ya Plastics Corp 0.01%
Nippon Paint Holdings Ltd 0.01%
Orkla 0.01%
Rentokil Initial PLC 0.01%
Ricoh Ltd 0.01%
Solvay SA 0.01%
Sumitomo Chemical Ltd 0.01%
Tesco PLC 0.01%
Tyson Foods Inc Class A 0.01%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 2022 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.

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
2022 0.34% 1.44%
2021 17.46% 20.57%
2020 -1.59% 0.2%
2019 4.47% 5.19%
2018 4.41% 4.81%
2017 5.71% 8.18%
2016 3.06% 1.17%
2015 8.56% 13.12%
2014 6.13% 7.72%
2013 8.77% 9.23%

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 fund has filed with Disclose register to Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • Hunter Global Fixed Interest Fund
    New Zealand Int Fixed Interest
    25.74%
  • Jbwere Premium Custody Call Account - NZD
    New Zealand Cash and Equivalents
    3.45%
  • Microsoft Corp
    United States International Equities
    2.43%
  • Infratil Ltd
    New Zealand Australasian Equities
    2.35%
  • Bank Of New Zealand 4.985% 07/06/2027
    New Zealand NZ Fixed Interest AA-
    1.89%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    1.4%
  • Meridian Energy Limited
    New Zealand Australasian Equities
    1.25%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    1.18%
  • Mainfreight Ltd
    New Zealand Australasian Equities
    1.14%
  • Westpac 3.696% 16/02/27
    New Zealand NZ Fixed Interest AA-
    1.08%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 3.5% 5.47%
New Zealand Fixed Interest 14.0% 10.92%
International Fixed Interest 22.5% 25.74%
Australasian Equities 18.5% 19.75%
International Equities 41.5% 38.12%
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 fund has filed with Disclose register to Fri Sept. 30th 2022.

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.09%
  • Animal Testing:
    3.73%
  • Fossil Fuels:
    0.22%
  • Gambling:
    0.01%
  • GMOs:
    0.02%
  • Human Rights & Environmental Violations:
    1.57%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.02%
  • Weapons:
    0.08%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 2022 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.

Note that many funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

In their own words

"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."

Value $210M NZD
Period of data report Fri Sept. 30th 2022
Fund started Mon Oct. 1st 2007
Total annual fund fees 1.11%
Total performance based fees 0.0%
Manager's basic fee 0.96%
Other management and administration charges 0.15%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Bruce Robertson

Currently: Portfolio manager, JBWere (25 years, 6 months)
Previously: Partner, Goldman Sachs JBWere (7 years, 1 months)

Tom Phillips

Currently: Portfolio manager, JBWere (18 years, 1 months)
Previously: Corporate lawyer, Bell Gully (7 years, 8 months)

Earl White

Currently: Executive Advisor, Bancorp Treasury (19 years, 8 months)
Previously: Treasurer, BNP Paribas (8 years, 7 months)

Phil Borkin

Currently: Senior Strategist, JBWere (3 years, 9 months)
Previously: Senior Macro Strategist, ANZ (4 years, 0 months)

Hayden Griffiths

Currently: Head of Asset allocation, JBWere (26 years, 5 months)
Previously: Analyst, BZW (2 years, 5 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

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 Markets Conduct Act 2013 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.