MAS Moderate

One holding accounts for more than a third of this fund. The Hunter Global Fixed Interest Fund, an international bond mandate, sits at 34 per cent of the portfolio, giving MAS Moderate a distinctly fixed-income tilt even within its balanced framework. Total fees run at 0.95 per cent, and the fund holds $92.3 million in assets.

Growth assets make up 41 per cent of the allocation, with international shares at 27 per cent and Australasian shares at 12 per cent. The rest sits in bonds and cash. Among the equity positions, Fisher & Paykel Healthcare and Infratil lead the New Zealand exposure, while Nvidia and Apple feature on the international side. New Zealand government bonds appear across multiple maturities, including 2031, 2032, 2036 and 2037 issues, adding direct sovereign debt alongside the pooled international bond fund.

The fund placed 3rd in its category over one year with an 8.4 per cent return, and 3rd again over three years at 9.6 per cent annualised. Over five years, it returned 4.1 per cent per year and ranked 6th. The structure leans conservative for a moderate fund, with nearly 60 per cent in defensive assets and a large single position anchoring the portfolio.

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