MAS Balanced Fund
Balanced Fund is a balanced KiwiSaver fund managed by MAS. It has 4,746 members and holds $410 million. It opened in 2007.
Fees and returns
- Annual fee
- 0.98% of your balance each year
- Return over 1 year
- +8.2% a year
- Return over 3 years
- +7.8% a year
- Return over 5 years
- +4.3% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
How it compares
Over the last five years this fund returned +4.3% a year. The median for mainstream balanced funds over the same period was +3.7% a year, across 40 funds. This fund is ahead of that median, by 0.6 percentage points.
What it invests in
International equities 40%, international fixed interest 21%, australasian equities 19%, new zealand fixed interest 15%.
Largest holdings
- Hunter Global Fixed Interest Fund 21.43%
- Fisher & Paykel Healthcare Ltd 3.09%
- JBWere Premium Custody Call Account - NZD 2.42%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +8.2% |
| 2024/25 | +4.5% |
| 2023/24 | +10.8% |
| 2022/23 | −3.1% |
| 2021/22 | +1.5% |
| 2020/21 | +20.5% |
| 2019/20 | +0.4% |
| 2018/19 | +5.2% |
| 2017/18 | +4.9% |
| 2016/17 | +8.3% |
About this fund
The MAS Balanced Fund is an actively managed diversified fund invested around 60% in growth assets (New Zealand and international shares) and around 40% in income assets (fixed interest and cash), weighting it towards growth assets. Like all MAS funds it is RIAA-certified for responsible investment. It has operated since 2007 and carries an annual fund charge of 0.98%.
See how all of Medical Assurance Society KiwiSaver's funds have performed