The Super Advantage
November 2003
Important Notes/DisclaimerIn May 2002 the global ING Group formed a joint venture with Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 for the
provision of certain financial products and services in the areas of superannuation and investment products and life insurance policies. The joint
venture company is ING Australia Limited (ING Australia) ABN 60 000 000 779.
ANZMI is a wholly owned subsidiary of ING Australia.
An investment in ANZ Super Advantage is neither a deposit nor a liability of:
> ANZ or any of its related corporations; or
> ING Australia, ING Bank (Australia) Limited ABN 24 000 893 292, ING Investment Management Limited ABN 23 003 731 959 or any other company in
the ING Group, other than ANZ Life Assurance Company (ANZ Life) ABN 63 008 425 652.
This information is current as at the date of its publication in November 2003 but may be subject to change. Past performance is not a reliable indicator
of future performance. The value of investments may rise or fall and repayment of the subscribed capital is not guaranteed. This publication has been
prepared without taking into account a potential investor’s objectives, financial situation and needs. Before making a decision based on this publication
a potential investor should consider the appropriateness of the advice, having regard to their objectives, financial situation and needs.
Although we consider the source of this material reliable and we have prepared it with care and in good faith, no warranty is given and no liability is
accepted by ANZ Managed Investments Limited or any affiliated companies for any statement or opinion or any error or omission.
Full product information including fees, charges, commissions, terms and conditions is available in the ANZ Super Advantage disclosure documents
dated October 2003, available at www.anz.com or by calling 13 38 63.
Welcome to the
latest edition of The
Super Advantage.
This newsletter
is produced
specifically for
members of ANZ
Super Advantage
and is distributed to
you quarterly.
ANZ Super Advantage investment menu changes 3
ING Melbourne Institute Household Savings
and Investment Report 3
Market update 4
The market cycle 5
Topical issues 5
The tide appears to be turning 6
Asset allocation and fund performance 7
We value your feedback!
Please direct any comments on this edition to:
ANZ Super Advantage NewsletterGPO Box 4028Sydney NSW 2001
For more information on ANZ Super Advantage
Telephone 13 38 63 between 8am and 8pm ESTMonday to Friday (excl. public holidays)
Website www.anz.com/wealth/super
Email [email protected]
Facsimile 02 9234 8286
2 The Super Advantage
The TrusteeThe Trustee and issuer of ANZ Super Advantage (ASA) is ANZ Managed Investments Limited (ANZMI) ABN 61 004 392 269, 347 Kent Street Sydney
NSW 2000. Telephone: 13 38 63 Facsimile 02 9234 8286.
Introduction Contents
3 The Super Advantage
ANZ Super Advantage investment menu changes
As a result of a recent review, ANZ Managed Investments
Limited (the Trustee) approved changes to ASA’s investment
menu, effective 1 October 2003.
The new menu consists of 44 investment funds, including 16 ING
funds, 14 external manager funds and 14 multi-manager funds.
As part of the investment menu review, a number of
investment funds have been withdrawn and replaced by the
Trustee’s nominated investment funds that are similar in risk
return profile. This replacement process involves investment
holdings in any of the withdrawn funds being automatically
switched to the replacement funds during late November 2003.
Additionally, the existing multi-manager Gateway and Russell
investment funds which currently invest in funds managed by
Russell, have been replaced.
After careful consideration the Trustee believes it is in
members’ best interests to invest them, where feasible, in
funds managed by ING’s subsidiary, Optimix Investment
Management Limited.
You may be aware that the Gateway investment philosophy
regularly balances the proportion of funds allocated to each
asset class back to a fixed benchmark. Conversly, the Optimix
process actively fine tunes exposure to particular asset classes
and investment styles to take advantage of prevailing economic
conditions. The aim of this additional dimension is to enhance
returns and reduce risk, thus benefiting our investors.
There are two options available to you regarding the
automatic switching of funds and these are explained in a
separate communication that you will have recently received.
You will also have received the ANZ Super Advantage Investment
Menu Changes brochure that provides further information on all
changes to the investment menu, including the review process,
costs and changes to specific investment funds.
Available upon request is the ASA Investment Information
Booklet that contains detailed information on the new
investment funds and can assist you in choosing a personal
investment strategy. You should also consider contacting
your ANZ Financial Planner about any changes you may wish
to make to your personal investment strategy.
ING Melbourne Institute Household Savings and Investment Report
The ING Melbourne Institute Household Savings and
Investment Report measures the trends in savings, investment
and debt behaviour of 1000 Australians in a national survey
conducted quarterly.
In the September 2003 quarter, the survey found that:
> Despite rising share markets, investors are still focused on
property investment and debt reduction
> For the second consecutive quarter the number of people
(8.1 per cent) intending to invest new savings in shares
has risen, albeit by a small margin
> Interest in property remains strong with one in three people
indicating they would invest new savings in property
> More than 45 per cent of Australian households surveyed
were debt free and about 34 per cent have only one form
of debt
Market update
4 The Super Advantage
Asset class Risk (volatility)and potentialreturn
Short-term historical index performance as at 30/09/20031
3 month 6 month Our view of factors driving performancereturn return
Cash Low 1.19% 2.40% The Reserve Bank of Australia held its official
interest rate at 4.75% over the period. Cash
returns assumed a similarly steady nature.
Australian Fixed Interest Low-medium -0.23% 1.93% The weakness of the domestic bond market was
primarily driven by US economic developments
over the period.
International Fixed Interest Low-medium 0.00% 2.44% Demand for US bonds reduced sharply over
the period as initial concerns over deflation
subsequently gave way to renewed economic
optimism.
Listed Property Medium-high -4.23% -1.19% After significantly outperforming in an
environment of investment pessimism, LPTs
surrendered their early gains as improving
economic sentiment prompted investors to
switch their attention to higher-risk areas of
the sharemarket.
Australian Shares High 6.21% 12.57% The Australian sharemarket recorded strong
gains as the swift conclusion to full-scale combat
in Iraq led investors to focus on increasingly
positive prospects for the global economy.
International Shares High 4.29% 10.43% Global sharemarkets recorded excellent
performance over the quarter as investment
sentiment was buoyed by improving economic
prospects and positive corporate earnings
results in the US and Europe.
Source: IRESS, UBSA, Datastream
1 Data: UBSA Bank Bill Index, UBSA Composite Bond Index (All Maturities), Citigroup WGBI Index excl. Aust in $A (hedged),
S&P/ASX 200 Property Trust Accumulation Index, S&P/ASX 300 Accumulation Index, MSCI World excl. Aust Index in $A (unhedged).
Asset class Risk (volatility)and potentialreturn
Performance as at 30/09/20031
1 year return (p.a.) 3 year return (p.a.) 5 year return (p.a.)
Cash Low 4.89% 5.11% 5.24%
Australian Fixed Interest Low-medium 5.51% 7.28% 5.80%
International Fixed Interest Low-medium 6.79% 9.08% 6.81%
Listed Property Medium-high 6.23% 11.29% 8.49%
Australian Shares High 11.78% 2.67% 8.08%
International Shares High 1.58% -15.95% -1.85%
The market cycle
The Super Advantage 5
SharesThe table opposite outlines the distinct change in share price
momentum since March 2003. This is reflected by the very
strong returns in Australian and international shares over the
last three and six months. In contrast, longer term returns are
still low compared to similar time periods throughout the last
50 years, which demonstrates the extent of the downturn that
investors experienced between 2000 and early 2003. We
believe this is encouraging as it suggests that, even in light of
recent gains, there may still be a good amount of potential
upside in share prices going forward.
Fixed interestFixed interest returns have been weak over the last two
quarters as a result of the softening demand for both
Australian and international bonds. This is not surprising, as
the returns of shares and bonds (fixed interest) often display
an inverse relationship. For example, when shares were
performing poorly throughout 2001 and 2002 fixed interest
returns were very strong.
PropertyListed Property Trusts (LPTs) continue to provide relatively
strong levels of performance, although our view is that this
sector is currently overvalued and is likely to offer lower
returns than shares over the next year or two.
Topical issues
Q There has been a lot of media hype regarding the
possibility of a bubble in the property market. Is this
true, and if so, how would this affect managed funds that
invest in property?
A Residential property prices in Australia have enjoyed an
incredible period of growth over the last five years,
especially in Sydney and Melbourne. The opinion of the
Federal Treasurer and the Reserve Bank of Australia is that
these levels of growth are not sustainable in the long
term, and that some pockets of the residential property
market are currently overpriced.
The good news for investors that hold property as
part of their managed fund portfolio is that the vast
majority of such holdings are via investments in LPTs
rather than direct property. LPTs can invest in
various properties which include hotels, office
towers, industrial factories and shopping centres.
As a result, LPTs offer excellent diversification within
the property market. Furthermore, LPTs offer levels of
income (i.e. yield) that generally exceed other
growth investments.
Patient investors are nowbeing rewardedInvestment markets move in cycles. The previous two or
three years have been a difficult time for investors in
managed funds that invest in Australian or international
shares. However, investors who focused on their long-
term goals and remained invested throughout this period
are now starting to see the benefits of their conviction.
Our view is that the last six months of improved
sharemarket performance is the beginning of a
sustainable, long-term recovery.
For investors with a long-term investment time horizon and
with a high risk tolerance the current market may represent
a good opportunity to consider gearing. Note that gearing is
a strategy that involves increased risk and you should
consult your ANZ Financial Planner to ensure it is suitable
for your individual situation.
Our key messages> Markets move in cycles
> Sharemarkets are improving
> History has demonstrated that long-term
investors have been rewarded
In the last edition of The Super Advantage we highlighted that sharemarkets around the world may be experiencing thebeginnings of recovery following the sustained period ofweakness that has endured since early 2000.
The excellent performance of both Australian and internationalshares over the last three months has provided support for ourview that the market is improving and that the next 12-18months may continue to provide investors with solid gains.
The tide appears to be turning
The graph above illustrates the change in the performance ofshares since March this year, not only in Australia but in mostof the world’s major markets. We believe this rebound is aresult of a combination of factors including:> Signs of improvement in the strength of the US and Japanese
economies> Incentive for businesses and consumers to borrow for
investment, created by the low interest rate environmentaround the world
> Recent fiscal incentives provided by the US Government(including reduction of the tax paid on dividends) toencourage investment activity
> Increased investor confidence, as a result of a combinationof many positive factors including the end of SaddamHussein’s regime in Iraq.
-10%
-5%
0%
5%
10%
15%
20%
25%
Jan-2003 Feb-2003 Mar-2003 Apr-2003 May-2003 Jun-2003 Jul-2003 Aug-2003
Mo
nth
ly g
ain
/lo
ss
of
be
nch
ma
rk i
nd
ice
s
re
pre
se
nti
ng
ma
jor
eq
uit
y m
ark
ets
Japan USA UK Germany Australia
Market movements throughout 2003 to date
Source: IRESS
Data: Japan – Nikkei Dow Index, USA – Dow Jones Industrial Average, UK – FTSE Index, Germany – DAX Index, Australia – S&P/ASX 300 Index.
The Super Advantage 6
Asset allocation and fund performance – as at 30 September 2003
• Cash 4.0%
• International Shares 96.0%
3 months 2.86%6 months 7.45%1 year 6.02%2 years -1.41%3 years -2.63%5 years 3.22%
ASA size $m 411.150Manager size $m 435.080
3 months 1.09%6 months 1.83%1 year 3.02%2 years 2.36%3 years 2.62%5 years 2.57%
ASA size $m 11.030Manager size $m 39.530
• Cash 100.00%
3 months -0.61%6 months 0.90%1 year 2.79%2 years 2.84%3 years –5 years –
ASA size $m 5.650Manager size $m 38.320
• Cash 1.1%
• Australian Fixed Interest 51.7%
• International Fixed Interest 47.2%
ANZ Money Market Plus FundANZ Wholesale Diversified
Fixed Interest Fund
ANZ Australian Equities FundANZ Wholesale Australian
Imputation Fund
3 months 0.73%6 months 1.46%1 year 3.06%2 years 3.24%3 years 3.42%5 years 3.49%
ASA size $m 99.630Manager size $m 0.00
• Cash 49.9%
• Australian Fixed Interest 50.1%
ANZ Capital Guaranteed Fund
ANZ Growth Fund
3 months 1.95%6 months 4.97%1 year 4.80%2 years 0.24%3 years5 years
ASA size $m 4.190Manager size $m 88.960
ANZ Wholesale Balanced Fund ANZ Wholesale Income FundANZ Diversified Stable Fund
ANZ Wholesale
Property Securities Fund
• Cash 0.2%
• Australian Shares 99.8%
ANZ Wholesale
Wealth Accumulator Fund
ANZ Wholesale Global
Technology Fund
• Cash 5.1%
• Property 6.4%
• Australian Fixed Interest 20.2%
• International Fixed Interest 6.8%
• Australian Shares 39.6%
• International Shares 21.9%
• Cash 12.5%
• Property 4.6%
• Australian Fixed Interest 29.6%
• International Fixed Interest 9.0%
• Australian Shares 28.6%
• International Shares 15.7%
• Cash 22.6%
• Property 2.9%
• Australian Fixed Interest 36.5%
• International Fixed Interest 11.9%
• Australian Shares 16.7%
• International Shares 9.4%
3 months 1.49%6 months 4.12%1 year 4.43%2 years 1.13%3 years 1.20%5 years 3.04%
ASA size $m 105.710Manager size $m 108.530
• Cash 52.5%
• Property 4.6%
• Australian Fixed Interest 23.0%
• International Fixed Interest 9.9%
• Australian Shares 10.0%
3 months 0.56%6 months 1.99%1 year 3.60%2 years 2.83%3 years –5 years –
ASA size $m 2.010Manager size $m 14.080
• Cash 1.8%
• Australian Shares 98.2%
3 months 7.52%6 months 15.55%1 year 11.63%2 years 1.97%3 years -0.58%5 years 7.39%
ASA size $m 22.320Manager size $m 42.310
• Cash 0.8%
• Australian Shares 99.2%
3 months 9.00%6 months 13.06%1 year 6.08%2 years -3.27%3 years –5 years –
ASA size $m 0.780Manager size $m 4.510
3 months 4.71%6 months 10.58%1 year 9.19%2 years 1.75%3 years –5 years –
ASA size $m 5.090Manager size $m 58.390
• Cash 1.4%
• Property 98.6%
3 months -3.57%6 months -1.24%1 year 4.01%2 years 5.78%3 years –5 years –
ASA size $m 12.920Manager size $m 46.740
3 months 9.52%6 months 25.44%1 year 25.06%2 years -9.76%3 years -37.96%5 years –
ASA size $m 0.860Manager size $m 3.410
The Super Advantage 7
3 months 2.16%6 months 5.23%1 year 3.71%2 years -0.59%3 years -1.56%5 years –
ASA size $m 2.400Manager size $m 2.780
• Cash 4.6%
• Property 9.9%
• Australian Fixed Interest 15.1%
• International Fixed Interest 10.2%
• Australian Shares 35.3%
• International Shares 24.9%
ANZ Balanced Index Fund
3 months 3.62%6 months 9.64%1 year 7.53%2 years -0.70%3 years -4.36%5 years 2.62%
ASA size $m 42.730Manager size $m –
• Cash 0.1%
• Property 5.0%
• Australian Fixed Interest 10.0%
• International Fixed Interest 5.1%
• Australian Shares 40.0%
• International Shares 39.8%
Gateway Aggressive Fund
3 months 1.39%6 months 3.75%1 year 4.74%2 years 1.79%3 years 1.85%5 years 3.02%
ASA size $m 12.590Manager size $m –
• Cash 25.3%
• Property 4.8%
• Australian Fixed Interest 33.1%
• International Fixed Interest 12.1%
• Australian Shares 15.0%
• International Shares 9.7%
Gateway Conservative Fund
3 months 1.31%6 months 4.89%1 year 5.57%2 years 2.03%3 years 0.59%5 years 3.00%
ASA size $m 227.190Manager size $m –
• Cash 8.2%
• Property 9.7%
• Australian Fixed Interest 30.3%
• International Fixed Interest 12.1%
• Australian Shares 19.9%
• International Shares 19.8%
Gateway Balanced Fund
3 months 4.98%6 months 10.09%1 year 8.54%2 years 3.60%3 years 0.56%5 years –
ASA size $m 1.800Manager size $m 2.900
• Cash 0.2%
• Australian Shares 99.8%
ANZ Australian Equities
Index Fund
3 months 4.98%6 months 18.96%1 year 20.59%2 years 0.05%3 years –5 years –
ASA size $m 8.260Manager size $m 692.00
• Cash 0.9%
• International Shares 99.1%
3 months 3.19%6 months 7.37%1 year -1.02%2 years -13.19%3 years -15.25%5 years -2.33%
ASA size $m 24.140Manager size $m 2,347.00
• Cash 0.5%
• International Shares 99.5%
Russell International
Shares Fund – $A Hedged
3 months 5.16%6 months 10.43%1 year 9.02%2 years 3.96%3 years 2.09%5 years 6.82%
ASA size $m 16.680Manager size $m 2,819.00
• Cash 1.2%
• Australian Shares 98.8%
Russell Australian
Shares Fund
3 months -3.34%6 months -1.03%1 year 4.97%2 years 5.84%3 years 7.79%5 years 5.57%
ASA size $m 17.230Manager size $m 479.00
• Cash 1.0%
• Property 99.0%
Russell Australian
Property Securities Fund
Russell International
Shares Fund
3 months 1.41%6 months 6.81%1 year -2.46%2 years -13.45%3 years -15.13%5 years –
ASA size $m 2.080Manager size $m 2.810
• Cash 0.3%
• International Shares 99.7%
ANZ International Equities
Index Fund
3 months 2.74%6 months 7.85%1 year 7.27%2 years 0.45%3 years -1.76%5 years 2.72%
ASA size $m 72.960Manager size $m –
• Cash 5.0%
• Property 7.8%
• Australian Fixed Interest 15.2%
• International Fixed Interest 10.1%
• Australian Shares 32.1%
• International Shares 29.8%
Gateway Growth Fund
3 months -0.40%6 months 1.03%1 year 3.71%2 years 3.09%3 years 4.29%5 years 3.13%
ASA size $m 4.920Manager size $m 1,127.00
• Cash 9.3%
• Australian Fixed Interest 70.8%
• International Fixed Interest 19.9%
Russell Australian
Bond Fund
Asset allocation and fund performance – as at 30 September 2003
8 The Super Advantage
3 months 0.47%6 months 2.48%1 year 5.55%2 years 5.62%3 years 6.36%5 years 3.76%
ASA size $m 1.350Manager size $m 393.00
• Cash 1.0%
• International Fixed Interest 99.0%
Russell International
Bond Fund – $A Hedged
• Cash 10.1%
• Property 7.5%
• Australian Fixed Interest 11.9%
• International Fixed Interest 12.9%
• Australian Shares 27.8%
• International Shares 29.8%
• Cash 1.7%
• International Shares 98.3%
BT Wholesale Balanced
Returns FundBT Wholesale Asian Share Fund
• Cash 2.8%
• Australian Fixed Interest 0.6%
• Australian Shares 95.1%
• International Shares 1.5%
BT Wholesale Australian
Share Fund
3 months 11.73%6 months 15.88%1 year 6.58%2 years 3.95%3 years -5.95%5 years –
ASA size $m 4.200Manager size $m 45.50
3 months 5.68%6 months 11.08%1 year 11.98%2 years 2.97%3 years -2.33%5 years 3.00%
ASA size $m 3.600Manager size $m 60.90
3 months 2.46%6 months 6.96%1 year 6.34%2 years -0.27%3 years -2.60%5 years –
ASA size $m 2.000Manager size $m 243.80
3 months 3.05%6 months 10.37%1 year 7.56%2 years 1.48%3 years 1.35%5 years –
ASA size $m 30.580Manager size $m 5,121.42
• Cash 0.7%
• Australian Shares 99.3%
Colonial First State Wholesale
Imputation Fund
3 months 1.57%6 months 5.33%1 year -0.36%2 years -11.59%3 years -15.65%5 years –
ASA size $m 0.510Manager size $m 25.80
• Cash 1.4%
• International Shares 98.6%
BT Wholesale European
Share Fund
3 months 2.28%6 months 6.97%1 year -3.29%2 years -14.00%3 years –5 years –
ASA size $m 4.000Manager size $m 321.90
• Cash 2.1%
• International Shares 97.9%
Citigroup Global Equity Trust
3 months 2.10%6 months 7.04%1 year 6.97%2 years 2.36%3 years –5 years 3.00%
ASA size $m 1.880Manager size $m 223.90
• Cash 5.9%
• Property 9.7%
• Australian Fixed Interest 14.6%
• International Fixed Interest 7.5%
• Australian Shares 38.1%
• International Shares 24.2%
Citigroup Diversified Trust
3 months 5.21%6 months 13.88%1 year 18.73%2 years 10.37%3 years –5 years –
ASA size $m 0.860Manager size $m 431.20
• Australian Fixed Interest 18.9%
• Australian Shares 81.1%
Citigroup Tactical
Allocation Trust
3 months 6.04%6 months 12.44%1 year 8.47%2 years 3.88%3 years 3.21%5 years –
ASA size $m 14.570Manager size $m 590.500
• Cash 1.6%
• Australian Shares 98.4%
ING Wholesale Australian
Share Trust
3 months 2.83%6 months 7.18%1 year 4.00%2 years 0.54%3 years -0.20%5 years –
ASA size $m 182.940Manager size $m 731.920
• Cash 10.7%
• Property 3.7%
• Australian Fixed Interest 16.7%
• International Fixed Interest 2.4%
• Australian Shares 43.3%
• International Shares 23.2%
ING Wholesale Balanced Trust
3 months 4.27%6 months 12.44%1 year 7.65%2 years 1.02%3 years 3.09%5 years –
ASA size $m 11.260Manager size $m 431.40
• Cash 2.0%
• Australian Shares 98.0%
Colonial First State Wholesale
Leaders Fund
Asset allocation and fund performance – as at 30 September 2003
The Super Advantage 9
3 months 5.29%6 months 11.10%1 year 7.42%2 years -0.13%3 years -0.82%5 years –
ASA size $m 5.790Manager size $m 1,261.70
• Cash 0.7%
• Australian Shares 99.3%
3 months 0.63%6 months 3.80%1 year -0.99%2 years -10.75%3 years -15.54%5 years –
ASA size $m 8.640Manager size $m 107.40
• Cash 2.1%
• International Shares 97.9%
Merrill Lynch Wholesale
Imputation Fund
Merrill Lynch Wholesale
International Share Fund
3 months 3.93%6 months 11.93%1 year 11.80%2 years 10.24%3 years 8.02%5 years –
ASA size $m 19.060Manager size $m 2,868.80
• Cash 2.2%
• Australian Shares 97.8%
Perpetual’s Wholesale
Industrial Fund
3 months 16.34%6 months 27.18%1 year 16.38%2 years 13.97%3 years 7.92%5 years –
ASA size $m 6.140Manager size $m 88.69
• Cash 0.1%
• Australian Shares 97.4%
• International Shares 2.5%
Rothschild Smaller Companies
Wholesale Trust
3 months 4.13%6 months 9.40%1 year 6.39%2 years -0.37%3 years –5 years –
ASA size $m 5.120Manager size $m 601.41
• Property 7.2%
• Australian Fixed Interest 16.9%
• Australian Shares 47.0%
• International Shares 28.9%
Rothschild Balanced
Wholesale Trust
3 months 3.48%6 months 8.89%1 year -1.23%2 years -13.41%3 years -17.82%5 years –
ASA size $m 8.070Manager size $m 674.00
• Cash 3.0%
• International Shares 97.0%
Fidelity Perpetual Wholesale
International Fund
• Cash 1.1%
• Australian Fixed Interest 98.9%
ING Wholesale Fixed Interest
Securities Trust
3 months 0.06%6 months 1.94%1 year 4.61%2 years 3.20%3 years –5 years –
ASA size $m 5.550Manager size $m 38.460
• Cash 8.6%
• Property 10.4%
• Australian Fixed Interest 10.0%
• International Fixed Interest 9.1%
• Australian Shares 36.0%
• International Shares 25.9%
Merrill Lynch Wholesale
Balanced Fund
3 months 2.91%6 months 8.54%1 year 8.57%2 years -0.86%3 years -2.75%5 years –
ASA size $m 5.980Manager size $m 1,574.20
3 months 1.21%6 months 3.43%1 year 4.60%2 years 3.11%3 years –5 years –
ASA size $m 9.970Manager size $m 95.790
• Cash 38.2%
• Property 1.2%
• Australian Fixed Interest 33.2%
• International Fixed Interest 7.2%
• Australian Shares 17.1%
• International Shares 3.1%
ING Wholesale Capital
Stable Trust
Asset allocation and fund performance – as at 30 September 2003
10 The Super Advantage
Closed funds#
ANZ Australian
Fixed Interest Fund
MLC Investment Trust
Balanced Fund
MLC Investment Trust
Income BuilderANZ Diversified Stable Fund
3 months 10.46%6 months 22.65%1 year 19.96%2 years 22.59%3 years 19.30%5 years 17.99%
ASA size $m 18.440Manager size $m 686.10
• Cash 3.7%
• Australian Shares 96.3%
Perpetual’s Wholesale
Smaller Companies Fund
• Cash 1.4%
• Australian Fixed Interest 98.6%• Property 4.2%
• Australian Fixed Interest 16.9%
• International Fixed Interest 13.8%
• Australian Shares 32.0%
• International Shares 33.1%
• Cash 0.1%
• Australian Shares 99.9%• Cash 19.4%
• Property 3.1%
• Australian Fixed Interest 43.4%
• International Fixed Interest 6.2%
• Australian Shares 18.0%
• International Shares 9.9%
3 months -1.16%6 months 0.31%1 year 2.36%2 years 2.43%3 years 3.83%5 years 2.64%
ASA size $m 2.570Manager size $m 3.360
3 months 1.33%6 months 4.13%1 year 5.23%2 years 1.88%3 years 2.29%5 years 3.94%
ASA size $m 4.050Manager size $m 108.530
3 months 2.35%6 months 8.10%1 year 7.34%2 years 1.43%3 years -0.68%5 years –
ASA size $m 1.040Manager size $m 372.20
3 months 1.91%6 months 8.17%1 year 4.60%2 years 2.60%3 years 1.37%5 years –
ASA size $m 1.540Manager size $m 337.10
Notes:
Performance figures are calculated using redemption prices and are net oftaxes and maximum management fees, but exclude entry, exit or switchingfees where appropriate. Any ongoing fees that have a finite life may beexcluded; such as the Administration fee. Returns for periods greater thanone year are annualised.
Past performance is not a reliable indicator of future performance. Since
the value of the investments funds are directly linked to the market value
of the investments, the unit price can rise and fall.
The ANZ Super Advantage fund size quoted reflects the fund assets in theANZ Super Advantage component of the underlying investment fund.
The manager fund size quoted reflects the total assets of the underlyinginvestment pool including ANZ Super Advantage.
# Funds closed to new investment through ANZ Super Advantage
NB. Investments made in the ANZ Capital Guaranteed Fund form part ofANZ Life’s No. 1 Statutory Fund. ANZ Life guarantees that the unit price ofthe ANZ Capital Guaranteed Fund, which includes past gains, will neverfall. Neither ANZ, ING nor any related corporation other than ANZ Lifeguarantees the Fund.
Investments made in all other investment options in ANZ Super Advantageform part of the ANZ Life No. 3 Statutory Fund.
The Super Advantage 11
For more information
Telephone: 13 38 63 between 8am and 8pmEST Monday to Friday (excl. public holidays)
Visit: www.anz.com/wealth/super
Email: [email protected]
Address: Level 16, 347 Kent StreetSydney NSW 2000
Postal Address: GPO Box 4028, Sydney NSW 2001
Facsimile: (02) 9234 8286
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