MFL Mutual Fund (MFL) superannuation scheme has been helping New Zealanders save for retirement since 1969. Managed by ANZ Investments, it provides a convenient way to build and maintain your retirement nest egg.

As an existing member, you continue to enjoy the great benefits of MFL.
The scheme is no longer open to new members.

MFL Mutual Fund Limited is the trustee and manager of MFL.

ANZ Investments is the investment and administration manager of MFL.

Reports and Updates

Review the latest from the quarter including performance, the largest holdings and more. Fact Sheet

See the latest fund performance, updated monthly. Fund Performance

Find information about the fund. Annual Fund Update

See the latest annual report. Annual Report

Keep up to date through the quarterly newsletter. Fund Watch

Information about the investment manager's investing approach. Responsible Investing

Read how investment markets have performed over the past three months. Market Review

Check the latest unit prices. Unit Prices

See how your fund is invested. Asset Allocation

Search for historical unit prices. Historical Unit Prices

Notice of 2019 tax year end

Our KiwiSaver and Investment Funds system will be closed from 4pm Thurs 28 March to Wed 3 April, so we can process your 2019 tax. Please be assured we will work to clear all investor requests as quickly as possible from Wednesday 3 April. Thank you for your patience and understanding.

This year’s tax certificates will be mailed before 30 April 2019.

MFL Mutual Fund Q4 2018: Volatility returned to financial markets

January 2019

Craig Tyson, Investment Manager, discusses the key drivers behind the fund’s performance this quarter, and some of the reasons behind the recent market activity.

The Fund

MFL is predominantly an actively managed portfolio of Australasian listed property, Australasian equities, and international listed property. It may invest in cash and cash equivalents and fixed interest assets. Some underlying investments are held directly and some are held via an underlying fund.

Listed property includes trusts or companies that own or invest directly in commercial, office, and industrial property. MFL’s equity investments will predominantly be shares in listed trusts of companies with a substantial property component. These could include, for example, ports, airports, toll roads, utility networks and retirement villages.

Target investment mix summary


Income assets

*5% Cash and cash equivalents

*5% Fixed interest

Growth assets

*25% Equities

*65% Listed property

More details on how MFL invests can be found in the statement of investment policy and objectives, which is available on the scheme register at (click on ‘Search schemes’ and search MFL Mutual Fund).

Managing your investment

MFL offers a range of flexible options to help you save for your retirement.

You can: