Asset Classes
Australian Equities
Vanguard Investments Australia Ltd., AllianceBernstein Australia Limited, Fidelity Worldwide Investment, Orion Asset Management Limited, AMP Capital Investors
This asset class includes ordinary shares, preference shares and other equity securities of companies or trusts listed on the Australian Securities Exchange.
Australian Fixed Interest
Colonial First State Global Asset Management, BlackRock Investment Management (Australia) Limited
This asset class includes debt securities issued by the Australian Government or the Government of a State or Territory of Australia. It also includes investments in investment grade, higher yielding debt securities such as floating rate notes, corporate bonds and shortterm securities.
Australian Listed Property Trust
Vanguard Investments Australia Ltd.
This asset class includes units or ordinary shares of property trusts and property related companies, which are listed on the Australian Securities Exchange.
Cash
State Street Global Advisors Australia, Limited, Vanguard Investments Australia Ltd.
This asset class includes short term debt securities issued with a term to maturity of less than one year. The securities are issued or guaranteed by the Australian Government (or the Government of a State or Territory of Australia), Australian banks and other issuers of high credit quality.
Enhanced Cash
Aberdeen Asset Management Limited
This asset class includes cash and investment grade higher yielding debt securities such as floating rate notes, mortgage backed securities, asset backed securities and corporate bonds. Investment grade securities are those rated at least BBB- by Standard & Poors or Baa3 or higher by Moodys. The enhanced cash portfolio maintains a duration similar to that of traditional cash type investments.
Global Listed Infrastructure Securities
Cohen & Steers Capital Management, Inc., Macquarie Funds Group
This asset class includes publicly traded securities issued by companies that are involved in the management or operation of infrastructure assets. Infrastructure assets include toll roads, ports, airports, railways and pipelines. Infrastructure companies typically operate in certain market sectors including utilities, telecommunications, industrials and energy.
Global Listed Property Securities
Cohen & Steers Capital Management, Inc., BlackRock Investment Management (Australia) Limited
This asset class includes units or securities of property trusts and property related companies which are listed on the Australian and recognised overseas securities exchanges. Global listed property securities are hedged 100% to the Australian Dollar.
International Equities
Schroder Investment Management Limited, State Street Global Advisors Australia, Limited, Walter Scott & Partners Limited, Pareto Investment Management Ltd, Aberdeen Asset Management Limited, Epoch Investment Partners, Inc, BlackRock Investment Management (Australia) Limited
This asset class includes companies listed on a recognised overseas securities exchange. Investments include ordinary shares, preference shares and other equity securities or derivatives of companies or trusts listed on these exchanges. Currently, international equities are hedged to a benchmark of 50% to the Australian Dollar. As this is a target, the actual level of hedging may change from time to time. State Street Global Advisors, Australia, Limited currently manages the hedging process.
International Fixed Interest
Vanguard Investments Australia Ltd., PIMCO Australia Pty Limited
This asset class includes debt securities issued by the government of a country outside Australia and non-government investment grade, higher yielding debt securities such as floating rate notes, corporate bonds, asset and mortgage backed securities and short-term securities. International fixed interest investments are hedged 100% to the Australian Dollar. In simple terms, this means that the portfolio is protected against the full impact of increases and decreases in currency rate movements.
