MAS KiwiSaver Scheme funds deliver strong results in Morningstar Q4 2025 survey

The latest Morningstar Quarterly KiwiSaver Survey to Q4 2025 highlights strong performance across the MAS KiwiSaver Scheme, reflecting the deliberate changes MAS has made in recent years to strengthen its investment approach.

Over the 12 months to 31 December 2025, MAS ranked in the top quartile for the Cash, Conservative, Moderate, Balanced and Growth Funds in the MAS KiwiSaver Scheme, demonstrating consistent performance across a broad range of risk profiles.

Looking longer term, MAS also performed strongly relative to peers. Over the 10-year period to 31 December 2025, the MAS KiwiSaver Scheme ranked 5th for its Moderate and Aggressive Funds, and 6th for its Growth Fund, underscoring the strength and consistency of its long-term investment outcomes.

The MAS KiwiSaver Scheme Cash Fund stood out in particular, delivering top-tier short-term performance. Over both the three-month and one-year periods to 31 December 2025, the fund ranked as the top-performing cash fund in the Morningstar survey. Over the longer term, it also ranked second over the 10-year period, demonstrating a consistent track record of returns for members alongside its focus on capital stability and liquidity.

MAS Chief Executive Jo McCauley said the Morningstar survey reinforced MAS’s focus on long-term member outcomes.

“For our members, KiwiSaver is about trust and confidence over time. Our approach is designed to balance stability with consistency, so members can feel comfortable whether they’re saving for the short term or planning further ahead. Independent assessments like Morningstar help validate that focus and the care we take in managing members’ savings.”

These results are underpinned by MAS’s strong governance framework, careful manager selection and a continued focus on delivering sustainable outcomes that support members’ long-term financial confidence.

While past performance can provide useful context, returns are not guaranteed.

Medical Funds Management Limited is the issuer of the MAS KiwiSaver Scheme. A Product Disclosure Statement for the Scheme is available at mas.co.nz/kiwisaver.