MAS Cash

MAS Cash sits first in its category for the year to date, with a 4.3 percent return, and charges a total fee of 0.25 percent. The fund holds $19.4 million in assets, entirely in cash and equivalents, with no exposure to shares, bonds or property.

A fifth of the portfolio sits in the JBWere Premium Custody Call Account, a liquid holding that allows the fund to meet withdrawals without breaking term deposits. The rest is laddered across fixed-term bank deposits, locked in at rates between 3.5 and 4.08 percent and maturing across 2026 and 2027. The top holdings include term deposits with Kiwibank, BNZ, Bank of China, Rabobank and Westpac, each sized at around 4 to 5 percent of the fund. The structure spreads maturity dates and keeps the fund's interest income flowing as older deposits roll off and new ones are placed.

Over three years the fund has delivered 5.0 percent annualised, placing it 4th in the cash category, and over five years it has returned 3.5 percent per year, ranking 3rd. The fund operates as a defensive anchor within the MAS KiwiSaver Scheme, holding no growth assets and designed for capital preservation rather than long-term accumulation.

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