Medical Assurance Society Balanced Fund

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Not Mindful
Type: Balanced fund
Past Returns: 3.40%

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

Annual Fees: 1.16%

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 0.05%
Energy Transfer Partners Lp 150325 4.05 Cb 0.05%

Weapons

Gambling

Las Vegas Sands Corp 250625 2.90 Cb 0.07%
Sands China Ltd 080825 5.125 Cb 0.01%
Sands China Ltd 080828 5.4 Cb 0.03%

Alcohol

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

Palm Oil

GMOs

Dupont De Nemours Inc. 0.04%
Novozymes A/S - B Shares 0.02%
Stora Enso Oyj 0.01%
Syngenta Finance AG 230421 3.933 Cb 0.07%

Human Rights & Environmental Violations

Johnson & Johnson 0.13%
Pt Astra International Tbk 0.01%

Animal Testing

Akzo Nobel Nv 0.020%
Associated British Foods PLC 0.010%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.020%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.030%
Bayer US Finance Ii Llc 250621 3.50 Cb 0.010%
Bayer US Finance Ii Llc250621 Frn 0.010%
Beiersdorf AG 0.020%
Burberry Group PLC 0.010%
Chr Hansen Holding A/S 0.010%
Clorox Company 0.040%
Coca-Cola European Partners 0.020%
Colgate-Palmolive Co. 0.090%
Croda International PLC 0.020%
Danone SA 0.070%
Danone SA 021121 2.077 Cb 0.060%
Estee Lauder Companies - Class A 0.060%
General Mills Inc. 0.060%
Givaudan 0.050%
Henkel AG & Co Kgaa 0.010%
Henkel AG & Co Kgaa - Non-Voting 0.020%
International Flavors & Fragrances Inc. 0.020%
Johnson & Johnson 0.130%
Kao Corporation 0.070%
Kimberly-Clark Corporation 0.080%
Koninklijke Dsm Nv 0.040%
L'Oreal SA 0.120%
Novozymes A/S - B Shares 0.020%
Pepsico Inc. 0.300%
PPG Industries Inc. 0.040%
Procter & Gamble Co. 0.490%
Reckitt Benckiser Group PLC 0.090%
Reckitt Benckiser Treasury Services PLC 240622 Frn 0.020%
Shiseido Co. Ltd. 0.040%
Syngenta Finance AG 230421 3.933 Cb 0.070%
Tesco Property Finance PLC 130440 5.744 Sf 0.050%
Unilever Nv 0.130%
Unilever PLC 0.100%

This data is compiled by Mindful Money from the fund information and portfolios that each 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.

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 -2.86% 0.2%
2019 4.44% 5.19%
2018 4.90% 4.81%
2017 5.60% 8.18%
2016 3.06% 1.17%
2015 8.56% 13.12%
2014 6.13% 7.72%
2013 8.77% 9.23%
2012 0.50% -2.94%
2011 6.26% 5.3%

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 Tue March 31st 2020.

Showing the top 10 investments for this fund:

  • Hunter Global Fixed Interest Fund
    New Zealand International Fixed Interest
    27.15%
  • Jbwere Premium Custody Call Account - NZD
    New Zealand Cash and Cash Equivalents
    5.22%
  • NZ Govt. Inflation Indexed Bond 20/09/2030
    New Zealand New Zealand Fixed Interest AA+
    3.1%
  • Technology Select Sector Spdr Exchange Traded Fund
    United States International Equities
    2.56%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    2.32%
  • A2 Milk Company Ltd
    New Zealand Australasian Equities
    2.23%
  • Microsoft Corporation
    United States International Equities
    2.04%
  • BNZ Term Deposit
    New Zealand Cash and Cash Equivalents A-1+
    1.86%
  • Jbwere Premium Custody Call Account - USD
    New Zealand Cash and Cash Equivalents
    1.7%
  • Vector Bond 14/03/2024
    New Zealand New Zealand Fixed Interest BBB
    1.59%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Tue March 31st 2020.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 4.0% 10.75%
New Zealand Fixed Interest 16.0% 12.69%
International Fixed Interest 25.0% 27.15%
Australasian Equities 17.0% 15.19%
International Equities 38.0% 34.22%
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 Tue March 31st 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:
    0.14%
  • Animal Testing:
    2.53%
  • Fossil Fuels:
    0.11%
  • Gambling:
    0.11%
  • GMOs:
    0.14%
  • Human Rights & Environmental Violations:
    0.14%
  • 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 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 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 Balanced Fund invests around 55% in growth assets and around 45% in income assets. The fund aims to provide a medium level of return over the medium to long term. Suitable for investors looking for medium term growth and willing to accept medium volatility."

Value $160M NZD
Period of data report Tue March 31st 2020
Members 2,064
Fund started Mon Oct. 1st 2007
Total annual fund fees 1.16%
Total performance based fees 0.0%
Manager's basic fee 1.01%
Administration charges 0.15%
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)

Tom Phillips

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

Earl White

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

Phil Borkin

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

Hayden Griffiths

Currently: Asset Allocation, JBWere (23 years, 11 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 Tue March 31st 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.