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Investment Managers

Investing can be complex. It requires experience, skill, and most importantly, time and focus. For this reason the Trustee employs the services of an asset consulting firm. It is the role of our asset consultant to assist the Trustee to do the following:

Set the benchmark asset allocation to meet the performance objectives of each investment option
Select underlying investment managers with expertise and experience in each asset class
Monitor the performance of the underlying investment managers
Monitor the performance of each investment option
Recommend changes to the investment mix or investment managers.

The performance of the asset consultants, investment managers and the investment options is reviewed regularly by the Trustees.

Underlying Investment Managers as at 1 March 2010

Investment Managers	Target weight	Benchmark
Australian Equities
Vanguard (Passive)	50.0%	S&P/ASX300 Accumulation Index
Cooper Investors	25.0%	S&P/ASX200 Accumulation Index
Concord Capital	25.0%	S&P/ASX200 Accumulation Index
Total	100.0%
International Equities
Vanguard (Passive)	60.0%	MSCI World (ex-Australia) Index with net dividends reinvested in $A (hedged)
Altrinsic	10.0%	MSCI World (ex-Australia) Index with net dividends reinvested in $A (unhedged)
Zurich Global Thematic	10.0%	MSCI World (ex-Australia) Index with net dividends reinvested in $A (unhedged)
Trilogy	10.0%	MSCI World (ex-Australia) Index with net dividends reinvested in $A (unhedged)
Genesis (Emerging markets)	10.0%	MSCI Emerging Markets Index with net dividends reinvested in $A (unhedged)
Total	100.0%
Direct Property
DEXUS Wholesale Property Fund	66.7%	Mercer Unlisted Property Funds Index (Gross Median Return)
Charter Hall Property Office Fund	33.3%	CPI + 5.0% pa
Total	100.0%
Global Listed Property
LaSalle	100.0%	UBS Global Real Estate Investors Index (local currency)
Total	100.0%
Australian Cash
BlackRock (Passive)	100.0%	UBSA Bank Bill Index
Total	100.0%
Structured Beta
Bridgewater All Weather	100.0%	UBSA Bank Bill Index + 3.0% pa
Total	100.0%
Hedge Funds
Aurora Investment Management Offshore Fund II	40.0%	UBSA Bank Bill Index + 3.0% pa
K2 Advisors Diversity Fund, Ltd.	60.0%	UBSA Bank Bill Index + 1.0% pa
Total	100.0%
Infrastructure
Hastings Utilities Trust of Australia	100.0%	CPI + 5.0% pa
Total	100.0%
Australian Fixed Interest
Schroder	70.0%	UBSA Composite Bond Index
Vianova	30.0%	UBSA Composite Bond Index
Total	100.0%
International Fixed Interest
BlackRock (Passive)	100.0%	Barclays Capital Global Aggregate Index in $A (hedged)
Total	100.0%
Global Inflation Linked Bonds
BlackRock (Passive)	50.0%	Barclays Capital World Government ILB Index in $A (hedged)
PIMCO	50.0%	Barclays Capital World Government ILB Index in $A (hedged)
Total	100.0%
Cash
BlackRock (Passive)	100.0%	UBSA Bank Bill Index
Total	100.0%

Asset consultant

Towers Watson

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The information contained on this website is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about Australian Enterprise Super, you should consider your own requirements and the relevant Product Disclosure Statement. To obtain a copy, call us on 1800 555 024 or download it from this website.

Professional Associations Superannuation Limited (PASL) (ABN 14 056 917 303 RSE L0000352 AFSL 222590) as Trustee of Professional Associations Superannuation Fund (PASF) (ABN 78 984 178 687 RSE R1000429). Australian Enterprise Super is a Division of PASF.