Moderate

Available from 18 July 2011

Objective

To invest in a broad range of asset classes which have the potential to achieve moderate capital growth over the medium to longer term. Capital gains can be expected to be achieved, but there is also the risk of capital loss.

Investment Strategy

Primarily invests (through discrete investment trusts) in a diversified portfolio of defensive and growth assets. Defensive assets include fixed interest securities and cash. Growth assets, including Australian and overseas listed shares, listed property and listed infrastructure securities, will have a limited exposure of 40%.

Risk Profile

Due to the investment characteristics of the assets held in the Fund, the performance of the Moderate Fund may be volatile, including the potential to experience a capital loss.

Investor Profile

Designed to suit investors who seek capital growth over the medium term and are willing to accept a moderate level of risk. Target timeframe is 4-5 years or longer.

Strategic Tilting

The following strategic tilt(s) are now in place:

• International Equities – 30% hedged to the AUD.

Fund Managers

• Aberdeen Asset Management Limited
• AllianceBernstein Australia Limited
• AMP Capital Investors
• BlackRock Investment Management (Australia) Limited
• Cohen & Steers Capital Management, Inc.
• Colonial First State Global Asset Management
• Epoch Investment Partners, Inc
• Fidelity Worldwide Investment
• Macquarie Funds Group
• Orion Asset Management Limited
• Pareto Investment Management Ltd
• PIMCO Australia Pty Limited
• Schroder Investment Management Limited
• State Street Global Advisors Australia, Limited
• Vanguard Investments Australia Ltd.
• Walter Scott & Partners Limited