The present invention relates to an actuator based on a magnetic shape memory alloy (MSMA), a new family of crystalline materials which exhibit strain deformation >10% when subjected to a magnetic field. Electromagnetic fields can be applied with very short response times, making MSMA-based actuators kHz capable. These materials have the unique property of retaining their strained state when the driving field is removed, making them unique in the world of shape memory materials, and desirable as an actuator material as they will maintain position when powered off.