As a result:
(1) The returns shown in the dashboard will be different from the returns shown on our website and in your annual report.
(2) The returns and fees shown in the dashboard will be different from the amounts which apply to your account.
1 Return is the average annual performance of the Balanced (accumulation) investment option over the previous ten financial years. It is the performance achieved for a representative member with a $50,000 balance, after administration and investment fees, taxes and other costs.
2 Return target is the return which the Balanced (accumulation) investment option aims to achieve above inflation over a 10 year period. It is a target only, and is not a guarantee of future performance. Inflation is measured as the annual change in the Consumer Price Index (CPI).
3 Level of investment risk is based on industry guidance and can be used to compare investment options that are expected to deliver a similar number of negative annual returns over any 20 year period. It is not a complete assessment of all forms of investment risk and does not take in to account the impact of administration fees and tax on the likelihood of a negative return, the size of potential positive and negative returns, or whether the likely returns will meet your individual needs. The level of risk is shown on a scale from Very Low to Very High. The “Medium to High” risk classification applies to funds with an estimated likelihood of “3 to less than 4” negative returns over any 20 year period.
4 Statement of fees and other costs is the sum of administration, investment and advice fees for a representative member with a $50,000 balance that is wholly invested in the Balanced (accumulation) option. Activity fees, insurance fees, buy-sell spreads and exit fees may also apply. Where applicable, fees shown include GST. Fees are not guaranteed and may change in the future. Where a tax deduction is available to the Fund in relation to fees, this deduction is passed back to your account at the time of deducting the applicable fee. These tax deductions are not included in the Statement of Fees and Other Costs, so the net effect of the fees and costs may be less than the amount shown.
5 Using the example of a $50,000 account, you will be charged each year an administration fee of $97, plus 0.41% p.a. of your account balance ($205), plus an investment fee of 0.64% p.a. ($320) and indirect costs of 0.09% p.a. ($45). This brings the total cost to $667 per year.
