MAS punches above its weight with top five KiwiSaver rankings in MJW Investment Survey

MAS has come out as one of the top-performing KiwiSaver providers in the latest Melville Jessup Weaver (MJW) Investment Survey (December 2025), ranking in the top five for both the Growth and Moderate funds in the MAS KiwiSaver Scheme over a 10-year period for the period ended 31 December 2025.

The independent MJW Survey also shows MAS has delivered consistent top five performance over the past three years across all KiwiSaver fund categories – Growth, Balanced, Moderate and Conservative – placing the organisation among the best performing providers in a highly competitive market.*

The results underscore MAS’s ability to compete strongly despite its comparatively smaller size. MAS manages around $3.3 billion in funds under management, compared with the major banks, which manage up to ten times that amount.

“These results confirm that scale alone doesn’t determine outcomes,” says Jo McCauley, Chief Executive of MAS. “The MJW rankings show that a focused, disciplined investment approach can deliver consistently strong performance – even when competing with much larger providers.”

The MJW Investment Survey assesses KiwiSaver performance across selected funds from New Zealand’s 17 largest KiwiSaver schemes by assets under management (as at 31 March 2025). It places the Growth and Moderate funds in the MAS KiwiSaver Scheme firmly within the top tier of providers, while also highlighting MAS’s three-year performance consistency across every risk category

MAS has been steadily strengthening its investment capability and positioning. “Over the past few years, we’ve made a number of strategic changes to ensure our funds are positioned for long-term growth,” says McCauley.

These include changes to the wholesale funds into which the MAS KiwiSaver Scheme, MAS Retirement Savings Scheme and MAS Investment Funds invest:

• Transitioning the investment management of the MAS Wholesale NZ Fixed Interest Fund to Amova Asset Management New Zealand Limited,
• Adding a new global equities strategy (Direct Portfolio) to the MAS Wholesale International Equities Fund,
• Moving the investment management of the MAS Wholesale Cash Fund to JBWere (NZ) Limited.

“These initiatives reflect our focus on disciplined governance, careful manager selection, and thoughtful portfolio construction,” McCauley adds. “They’re all about supporting sustained performance for our Members rather than chasing short-term results.”

Alongside strong investment outcomes, MAS continues to differentiate itself through its accessible financial advice service, at a time when demand for advice is rising but uptake remains low.

According to a Financial Services Council report, 69% of New Zealanders aged 18-25 would consider receiving professional financial advice, yet only 18% currently do. This is reinforced by Financial Markets Authority research, which shows just 18% of all New Zealanders have used a financial adviser, mortgage broker or insurance broker in the past 12 months.

“These figures point to a clear advice gap,” says McCauley. “Quality financial advice is critical for people at every stage of life – not just for those who already have significant wealth.”

MAS offers access to a professional financial adviser with no minimum investment required. Anyone can meet with an adviser to discuss their financial situation, goals and options, regardless of whether they choose to invest.

For those who later decide to invest, a MAS Investment Funds account can be opened with just $500, but this is not a prerequisite for receiving advice. MAS offers seven investment, retirement and KiwiSaver fund options, so Members can choose what best suits their needs.

This approach contrasts with traditional wealth management and private banking models, where adviser support often begins at investment levels of $1 million or more, creating barriers for everyday New Zealanders, particularly those new to investing.

New research out of the United Kingdom by St James’s Place’s Real Life Advice Report 2025 highlights the value of advice. Almost all people (95%) receiving ongoing financial advice say it helps them reach and stay on track with their financial goals, with 85% reporting they are on track or ahead of their savings and investment targets, compared with 64% of those not receiving advice.

“Our MJW results demonstrate that strong performance and accessible advice can – and should – go together,” says McCauley. “We’re proud to be delivering both, and to be helping more New Zealanders build confidence and long-term financial security.”

* Past performance provides useful context, but future investment results are not guaranteed.

Medical Funds Management Limited is the issuer and manager of the MAS KiwiSaver Scheme and MAS Investment Funds. A PDS for each Scheme is available at mas.co.nz. 

This article is of a general nature only and is not intended to constitute financial or legal advice. MAS is a licensed financial advice provider. MAS Advisers only give advice in relation to MAS products. Our financial advice disclosure statement is available by visiting mas.co.nz or calling 0800 800 627.