Chifley Financial Services Limited (Chifley) was established in 1991 by the Labor Council of NSW to help Australians plan a better financial future for themselves and their families.
In 2001, the Local Government Superannuation Scheme and Energy Industries Superannuation Scheme each purchased a share in Chifley. These two Schemes, together with the Labor Council of NSW, now own equal shares in Chifley.
Today, Chifley continues to pursue its aim to help Australians secure their financial future by providing a range of products and services for people at all stages of their lives, both working and retired.
Chifley Home Loans, therefore, has been set up to help you own your home sooner. In plain English we offer you:
Straightforward, everyday language.
At Chifley, we're totally upfront with all aspects of your loan. You know you're getting a great deal, with everything you need to know made clear.
We've even made it easy to compare how our home loans stack up:
| Application Fee |
$0 |
| Monthly Account Keeping Fee |
$0 |
| Split Loan Fee |
$0 |
| Electronic Redraw Fee |
$0 |
| Redraw facility |
yes |
| Maximum Term |
up to 30 years |
| Maximum Loan |
up to 97% of property value (conditions apply) |
Need further information?
Whatever your circumstances or what you want to do, chances are there's a no-nonsense Chifley Home Loan that's perfect for you. For more information, contact us on 1800 800 002.
Estate Planning service coming soon
We are currently in the process of developing a range of services to cater for all of your financial planning needs. One of these important developments is in the area of estate planning.
Often, members have asked for assistance in creating a Will and appointing a Power of Attorney. In the past, we referred them to their solicitor, but as part of developing a better and more complete service offering, a cost-effective estate planning service will soon be available.
More news on this new service will be promoted in future newsletters, so watch this space…
Performance returns
Comparison chart
| Period |
High Growth (%) |
Diversified (%) |
Balanced (%) |
Capital Guarded (%) |
Cash Plus (%) |
| July 2004 |
-1.35 |
-0.88 |
-0.42 |
0.01 |
0.33 |
| August 2004 |
0.42 |
0.75 |
0.99 |
1.22 |
0.35 |
| September 2004 |
1.52 |
1.44 |
1.16 |
0.91 |
0.32 |
| Year to date |
0.57 |
1.30 |
1.74 |
2.15 |
1.00 |
How have investment markets performed?
Max McKeough, Financial Markets Analyst at Deutsche Asset Management
As at quarter end, September 2004
Australian shares
The Australian sharemarket returned 20.7% in the 12 months to 30 September 2004, measured by the benchmark S&P/ASX200 Accumulation Index. This strong performance, the best corresponding period result for four years, was supported by a robust economy, improved company earnings, surging global commodity prices and a steady interest rate background for most of the year. The market index reached several new highs during the June and September quarters. At the same time several other global markets lost some momentum in the wake of soaring oil prices and investor concern about the economic outlook. Thus, the Australian market was one of the best major market performers in the period, expressed in local currency terms.
International shares
Global markets have generally recovered well since bottoming in March 2003, after the extended period of negative returns which followed the collapse of the "high tech" bubble in 2000. Company profits have improved considerably in the major economies, but much of the markets' recovery represents lost ground regained rather than a vigorous growth resurgence. The major global equity markets returned 9.2% (expressed in Australian dollars) in the year to September, measured by the benchmark Morgan Stanley Capital International (MSCI) World Index, excluding Australia. This was the best corresponding period result for four years, despite concerns about higher oil prices and rising global interest rates.
Fixed interest securities
Fixed interest markets had a mixed year. They were dominated early in the period by the strength of the economic recovery and the beginnings of an upturn in the interest rate cycle. More recently the markets, led by the key US bond market, have turned around sharply and bond yields fell (bond prices rose) as investors focused on increased risks to the global growth outlook. The Australian market, measured by the UBS Warburg Composite Bond Index, returned 5.3% in the year, lower than the 5.5% return on cash measured by the UBS Warburg Bank Bill Index. The Australian bond market also underperformed the 7.5% return on global bonds, fully hedged into Australian dollars, measured by the Lehman Brothers Global Aggregate Index.
Listed property trusts
The listed property trust sector continued its extended run of solid returns to record the best performance of all asset classes in the year to September - a period dominated by merger and acquisition activity. Measured by the benchmark S&P/ASX200 Property Accumulation Index, the return of 29.0% outperformed the broader equity market by 8.3%. Apart from the series of mergers which reduced stock numbers and prospective yields, performance was influenced by rising and then falling bond yields. At the end of the period the sector was trading at a prospective 2005 yield of 7.1%, a premium of 1.6% above the 10-year bond yield.
Direct property
The retail and industrial sectors of the property market were the standout performers with returns of 13.9% and 13.0%, respectively, in the year to June 2004. After three years of contraction, the office sector is experiencing an increase in leasing demand. However, the office sector return of 7.4% lagged over the year.
Energy Industries Superannuation Scheme
Ground Floor
28 Margaret Street
Sydney NSW 2000
Postal address
PO Box N835
Grosvenor Place
NSW 1220
T: 1300 369 901
F: 02 9279 4131
www.eisuper.com.au
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