MAS Conservative

Nearly half of this fund sits in a single position: the Hunter Global Fixed Interest Fund takes 44 per cent of the portfolio, making it the dominant bet in an otherwise diversified conservative structure. That concentration shapes everything else about how this fund works.

The rest of the allocation follows a low-risk blueprint. New Zealand government bonds account for another 27 per cent, spread across maturities ranging from 2031 to 2041. Growth assets make up just 21 per cent of the fund, split between international shares at 14 per cent and Australasian equities at 6 per cent. Fisher & Paykel Healthcare is the only individual share holding large enough to appear in the top ten, at 1 per cent. Cash sits at 9 per cent. The fund holds 84.6 million dollars and charges a total fee of 0.85 per cent annually.

Recent performance has been solid in the short term but weaker over longer horizons. The fund placed 4th in its category over one year with a return of 6.6 per cent, and 5th over three years at 7.5 per cent annually. Over five years, however, it sits 11th with an annualised return of 2.6 per cent. That longer track record reflects the drag of low interest rates through much of the past decade, a period that tested all bond-heavy funds.

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