MAS Balanced

A single fixed interest fund accounts for more than a fifth of this $426 million balanced portfolio, with the Hunter Global Fixed Interest Fund sitting as the largest holding at 21.6%. That concentration sets the tone for a fund that leans heavily on bonds, with 36% in fixed interest overall and just 61% in growth assets, placing it at the conservative end of the balanced category. Total fees come to 0.99%, comprising a 0.85% management charge and 0.13% in other costs.

The fund returned 10.3% over the past year, placing 8th in its category, and has delivered 11.8% annually over three years, sitting 15th. Over five years the return drops to 5.7%, ranking 12th. The equity allocation favours international shares at 41.5%, with Australasian shares at 18.1%. Within that, the fund holds a clear tilt toward New Zealand stocks, with Fisher & Paykel Healthcare, Infratil and Auckland Airport all featuring prominently. Among international names, NVIDIA leads at 2.0%, followed by Apple, Alphabet and Micron Technology, signalling exposure to US tech.

Medical Assurance Society runs this fund with a bond-heavy structure and a home bias in its equity sleeve. The result is a balanced fund that sits closer to defensive territory than many of its peers.

General information only, not financial advice. Past performance is not a reliable indicator of future results.