From 1 May, we’re making enhancements to improve the returns from our investment options.
These enhancements will not affect our conservative investment philosophy which focusses first on protecting and then growing your money to meet your retirement goals.
Our cautious approach allows us to balance investment risks to protect your capital while also capturing opportunities for growth.
We are reducing the fee charged on the Cash investment option from 0.61% p.a. to 0.51% p.a.
The EISS Super Cash investment option is a ‘true to label’ cash option which is liquid and invests in low risk securities such as cash at bank, bank bills and term deposits.
Over recent years the global economy has changed significantly. A long-term low interest rate environment has made it increasingly difficult for a Cash option to achieve a return above inflation (after fees and taxes). This long-term shift is unlikely to change in the foreseeable future.
Therefore from 1 May 2019, the investment return objective for the Cash option will be updated from CPI + 0.25% (after fees and taxes) to the RBA Cash Rate (after fees and taxes).
This will allow members to make investment decisions based on a more achievable objective for the cash option.
We have reviewed the asset allocations for our diversified investment options. Based on the review, we will be making some changes to provide more flexibility and the opportunity to take advantage of investments that improve member outcomes by adjusting some of our asset allocation targets and widening the asset allocation ranges of some asset classes as set out in the table below.
Please note, these refinements do not change the overall exposure to growth (e.g. Australian and international shares) and defensive assets (e.g. fixed income and cash) or the level of investment risk for any investment option.
The table below provides the revised asset allocation targets and ranges for each investment option.
Targets may change over time. For current targets, please refer to our website.
Thank you for continuing to trust us to invest your retirement savings and rest assured your super is in safe hands.
If you have any questions, please call us on 1300 369 901, Monday to Friday from 8am to 8pm (AEST) and our team will be happy to assist you.
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