MAS Moderate Fund
Moderate Fund is a balanced KiwiSaver fund managed by MAS. It has 1,318 members and holds $89 million. It opened in 2007.
Fees and returns
- Annual fee
- 0.94% of your balance each year
- Return over 1 year
- +5.9% a year
- Return over 3 years
- +6.2% a year
- Return over 5 years
- +3.1% 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 +3.1% a year. The median for mainstream balanced funds over the same period was +3.8% a year, across 40 funds. This fund is behind that median, by 0.7 percentage points.
What it invests in
International fixed interest 33%, international equities 27%, new zealand fixed interest 21%, australasian equities 13%.
Largest holdings
- Hunter Global Fixed Interest Fund 33.37%
- JBWere Premium Custody Call Account - NZD 4.5%
- Fisher & Paykel Healthcare Ltd 2.08%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +5.9% |
| 2024/25 | +4.3% |
| 2023/24 | +8.5% |
| 2022/23 | −2.9% |
| 2021/22 | 0.0% |
| 2020/21 | +14.5% |
| 2019/20 | +0.7% |
| 2018/19 | +4.2% |
| 2017/18 | +4.2% |
| 2016/17 | +6.4% |
About this fund
The MAS Moderate Fund is an actively managed diversified fund invested around 60% in income assets and around 40% in growth assets, so it carries more income than growth exposure. Like all MAS funds it is RIAA-certified for responsible investment. It has operated since 2007 and carries an annual fund charge of 0.94%.
See how all of Medical Assurance Society KiwiSaver's funds have performed