How Your Super Is Invested

How Your Super Is Invested

INVESTMENT OPTIONS

Pre-Mixed

Offers a range of asset classes to provide different risk/return profiles.

Balanced – Our default (MySuper) investment option

Investment overview

Balanced offers a significant exposure to growth assets of 72%, and 28% to defensive assets.

Intended to be suitable for

Investors who have a 5–10 years investment time horizon and are seeking to achieve moderate returns over the long term by investing across a broad range of asset types, with higher exposure to growth assets.

Investment objectives

Return: Over rolling ten-year periods, having a 70% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3.5% p.a.

Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 6.

Standard Risk Measure

Risk band: 5
Risk label: Medium to High
Estimated number of negative annual returns over any 20-year period: 3 to less than 4.

Recommended minimum investment timeframe

Medium to long (5-10 years).

Strategic asset allocation and long-term range as at 1 October 2016

High Growth

Investment overview

High Growth provides a high-growth-oriented investment strategy, with 98% invested in growth assets such as shares and 2% invested in defensive assets.

Intended to be suitable for

Investors who have a 10 years-plus investment time horizon and are prepared to accept high volatility to pursue potentially greater long-term returns by investing predominantly in growth assets.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 4.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Growth

Investment overview

Growth provides a growth-oriented investment mix, with a 79.5% allocation to growth assets.

Intended to be suitable for

Investors who have a 10 years-plus investment time horizon and are prepared to accept high volatility to pursue potentially greater long-term returns with a substantially higher exposure to growth assets.

Investment objectives

Return: Over rolling ten-year periods, having a 65% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 5.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Moderate Growth

Investment overview

Moderate Growth invests in growth and defensive assets across most asset classes. It is designed for members who want exposure to growth and defensive assets and can tolerate a low to medium level of risk over 5-10 years.

Intended to be suitable for

Investors who have a 5–10 years investment time horizon and are seeking to achieve moderate returns over the long term by investing across a broad range of asset types.

Investment objectives

Return: Over rolling ten-year periods, having an 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3.25% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 8.

Standard Risk Measure

Risk band: 4
Risk label: Medium
Expected number of years of negative returns over any 20-year period: 2 to less than 3.

Recommended minimum investment timeframe

Medium to long (5-10 years).

Strategic asset allocation and long-term range as at 1 October 2016

Stable

Investment overview

Stable aims to provide relatively steady returns, through a 68% allocation to defensive assets.

Intended to be suitable for

Investors who have a 1 to 5 years investment time horizon and are prepared to accept lower returns in exchange for experiencing a lower level of volatility, achieved by investing mainly in defensive assets with some exposure to growth assets.

Investment objectives

Return: Over rolling five-year periods, having an 80% probability of achieving a member investment return after fees and taxes equivalent to CPI + 2.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 20.

Standard Risk Measure

Risk band: 2
Risk label: Low
Estimated number of negative annual returns over any 20-year period: 0.5 to less than 1.

Recommended minimum investment timeframe

Medium (1-5 years).

Strategic asset allocation and long-term range as at 1 October 2016

Income Plus

Investment overview

Income Plus invests mainly in defensive assets across most asset classes including fixed interest and high yield debt. It is designed for members who want exposure to mainly defensive assets and can tolerate a medium level of risk over 5-10 years.

Intended to be suitable for

Investors seeking moderate investment returns over the medium to long term (minimum 5-10 years) through exposure to mainly defensive assets.

Investment objectives

Return: Over rolling five-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 2.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 17.

Standard Risk Measure

Risk band: 3
Risk label: Low to Medium
Expected number of years of negative returns over any 20-year period: 1 to less than 2.

Recommended minimum investment timeframe

Medium to long (5-10 years).

Strategic asset allocation and long-term range as at 1 October 2016

Single Asset Class

Investment in a single specific asset class only.

Australian Shares

Investment overview

The Australian Shares sector option provides a high-growth-oriented investment strategy predominantly invested in Australian shares.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the Australian share market.

Investment objectives

Return: Over rolling ten-year periods, having a 50% probability of achieving a member investment return after fees and taxes equivalent to CPI + 5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 7
Risk label: Very High
Estimated number of negative annual returns over any 20-year period: 6 or greater.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Passive Australian Shares

Investment overview

Passive Australian Shares invests in Australian shares using a passive approach.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the Australian share market.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 7
Risk label: Very High
Estimated number of negative annual returns over any 20-year period: 6 or greater.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Australian Small Companies

Investment overview

Australian Small Companies invests mainly in growth assets, mainly Australian small company shares. It is designed for members who want exposure to growth assets and can tolerate a high level of risk over 10 years.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the Australian share market.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4.5% p.a.

Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 7
Risk label: Very High
Estimated number of negative annual returns over any 20-year period: 6 or greater.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Diversified Shares

Investment overview

Diversified Shares invests mainly in growth assets, mainly Australian and overseas shares. It is designed for members who want exposure to growth assets and can tolerate a high level of risk over 10 years.

Intended to be suitable for

Investors who have a 10 years-plus investment time horizon and are prepared to accept high volatility to pursue potentially greater long-term returns by investing predominantly in growth assets.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Overseas Shares

Investment overview

The Overseas Shares sector option provides a high-growth-oriented investment strategy predominantly invested in overseas shares.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the global share market.

Investment objectives

Return: Over rolling ten-year periods, having a 50% probability of achieving a member investment return after fees and taxes equivalent to CPI + 5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Passive International Shares

Investment overview

The Passive International Shares option invests in international shares using a passive approach.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the international share market.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Hedged International Shares

Investment overview

Hedged International Shares invests in international shares using a multi-manager approach. Returns are hedged back into Australian dollars.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the international share market.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 7
Risk label: Very High
Estimated number of negative annual returns over any 20-year period: 6 or greater.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Emerging Markets Shares

Investment overview

Emerging Markets Shares invests mainly in growth assets, mainly emerging markets. It is designed for members who want exposure to growth assets and can tolerate a high level of risk over 10 years.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to the Emerging Markets share market.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Sustainable Future Shares

Investment overview

The Sustainable Future Shares sector option provides a high-growth-oriented investment strategy predominantly invested in Socially Responsible Australian shares*.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to Socially Responsible Australian shares.

Investment objectives

Return: Over rolling ten-year periods, having a 55% probability of achieving a member investment return after fees and taxes equivalent to CPI + 5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Property

Investment overview

The Property sector option provides a growth-oriented investment strategy predominantly invested in property.

Intended to be suitable for

Investors seeking moderate investment returns over the medium to long term (minimum 5-10 years) through exposure to property and property related securities.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 4.

Standard Risk Measure

Risk band: 5
Risk label: Medium to High
Estimated number of negative annual returns over any 20-year period: 3 to less than 4.

Recommended minimum investment timeframe

Medium to long (5-10 years).

Strategic asset allocation and long-term range as at 1 October 2016

Global Listed Property

Investment overview

Global Listed Property invests in global listed property securities using a multi-manager approach.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to property and property-related securities.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Global Listed Infrastructure

Investment overview

Global Listed Infrastructure invests in listed infrastructure securities using a multi-manager approach.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to infrastructure and infrastructure-related securities.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 3.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Unlisted Infrastructure

Investment overview

Unlisted Infrastructure invests in unlisted infrastructure securities using a pooled approach.

Intended to be suitable for

Investors seeking moderate investment returns over the medium to long term (minimum 5-10 years) through exposure to infrastructure and infrastructure-related securities.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 4.5% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 4.

Standard Risk Measure

Risk band: 5
Risk label: Medium to High
Estimated number of negative annual returns over any 20-year period: 3 to less than 4.

Recommended minimum investment timeframe

Medium to long (5-10 years)

Strategic asset allocation and long-term range as at 1 October 2016

Global Natural Resources

Investment overview

Global Natural Resources invests in global natural resources using a multi-manager approach.

Intended to be suitable for

Investors seeking higher returns over the long term (minimum 10+ years), through exposure to commodities and commodity related securities.

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return after fees and taxes equivalent to CPI + 3% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 2.

Standard Risk Measure

Risk band: 7
Risk label: Very High
Estimated number of negative annual returns over any 20-year period: 6 or greater.

Recommended minimum investment timeframe

Long (10+ years).

Strategic asset allocation and long-term range as at 1 October 2016

Fixed Interest

Investment overview

The Fixed Interest sector option provides a conservative investment strategy predominantly invested in fixed interest.

Intended to be suitable for

Investors seeking an income-based return above inflation and cash over the medium-term (1-5 years) through exposure to Australian and global fixed interest markets.

Investment objectives

Return: Over rolling five-year periods, having a 65% probability of achieving a member investment return after fees and taxes equivalent to CPI + 2% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is less than 1 in 20.

Standard Risk Measure

Risk band: 2
Risk label: Low
Estimated number of negative annual returns over any 20-year period: 0.5 to less than 1.

Recommended minimum investment timeframe

Medium (1-5 years).

Strategic asset allocation and long-term range as at 1 October 2016

Cash

Investment overview

The Cash sector option aims at providing capital preservation and secure investment returns through a 100% investment in cash.

Intended to be suitable for

Investors seeking stable returns over the short term (0-1 year) through a 100% investment in cash.

Investment objectives

Return: Over rolling two-year periods, having a 90% probability of achieving a member investment return after fees and taxes equivalent to CPI + 1% p.a.
Risk: The estimated chance that negative returns will occur in any financial year is negligible.

Standard Risk Measure

Risk band: 1
Risk label: Very Low
Estimated number of negative annual returns over any 20-year period: Less than 0.5.

Recommended minimum investment timeframe

Short (0-1 year).

Strategic asset allocation and long-term range as at 1 October 2016

Direct Investment

Whether you’re a super or pension member, Direct Investment offers flexibility and control as it allows you to build your own portfolio and choose how to invest your super.

ASX300 Listed shares, Exchange Traded Funds (ETFs) and Term Deposits

Investment overview

The Direct Investment option allows individual members to take greater control and manage how their super is invested, providing members with choice and the flexibility to make the investment decisions themselves. As the asset mix of this option is not set or managed by Media Super and is instead selected by the member, the investment objectives – both return and risk – are the responsibility of individual members.

Intended to be suitable for

Members can choose a mix of growth assets (ASX300 listed shares and ETFs) and defensive assets (term deposits). These types of assets are capable of supporting a range of return objectives, from conservative to aggressive, so that an individual member can set a risk and return objective appropriate to their own situation.

Investment objectives

The types of assets offered are capable of supporting a range of risk objectives, from low to very high risk, so that an individual member can set a risk and return objective appropriate to their own situation and risk appetite. In particular, the likelihood of a negative return will vary, depending on each member’s chosen allocation to ASX300 listed shares, ETFs and term deposits.

For more information please read the Direct Investment Guide available at mediasuper.com.au/resources or visit mediasuper.com.au/directinvestment for details of available term deposits and ETFs.

SmartPath Lifecycle Option

Offers a ‘whole of life’ approach to investing by combining different types of assets, the proportions of which are changed automatically for you throughout the different stages of your life. Available to super members only.

Born 1969 or later

Investment overview

This option is designed for members born on or after 1 January 1969 and is invested mainly in growth assets.

Recommended minimum investment timeframe

Medium to long (minimum 8+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 4% p.a.
Risk: The estimated chance that negative returns will occur in any financial year being less than one in 4.

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Strategic asset allocation and long-term range as at 1 October 2016

Born 1964-1968

Investment overview

This option is designed for members born between 1 January 1964 and 31 December 1968 and is invested mainly in growth assets.

Recommended minimum investment timeframe

Medium to long (minimum 8+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 4% p.a.

Risk: The estimated chance that negative returns will occur in any financial year being less than one in 4

Standard Risk Measure

Risk band: 6
Risk label: High
Estimated number of negative annual returns over any 20-year period: 4 to less than 6.

Strategic asset allocation and long-term range as at 1 October 2016

Born 1959-1963

Investment overview

This option is designed for members born between 1 January 1959 and 31 December 1963 and is invested mainly in growth assets.

Recommended minimum investment timeframe

Medium to long (minimum 7+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 4% p.a.

Risk: The estimated chance that negative returns will occur in any financial year being less than one in 5.

Standard Risk Measure

Risk band: 5
Risk label: High
Estimated number of negative annual returns over any 20-year period: 3 to less than 4.

Strategic asset allocation and long-term range as at 1 October 2016

Born 1954-1958

Investment overview

This option is designed for members born between 1 January 1954 and 31 December 1958 and is invested 65% in growth assets.

Recommended minimum investment timeframe

Medium (minimum 6+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 3.5% p.a.

Risk: The estimated chance that negative returns will occur in any financial year being less than one in 6.

Standard Risk Measure

Risk band: 5
Risk label: Medium to High
Estimated number of negative annual returns over any 20-year period: 3 to less than 4.

Strategic asset allocation and long-term range as at 1 October 2016

Born 1949-1953

Investment overview

This option is designed for members born between 1 January 1949 and 31 December 1953 and is invested in both growth and defensive assets.

Recommended minimum investment timeframe

Medium (minimum 5+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 3.25% p.a.

Risk: The estimated chance that negative returns will occur in any financial year being less than one in 7.

Standard Risk Measure

Risk band: 4
Risk label: Medium
Estimated number of negative annual returns over any 20-year period: 2 to less than 3.

Strategic asset allocation and long-term range as at 1 October 2016

Born before 1949

Investment overview

This option is designed for members born prior to 1 January 1949 and is invested mainly in defensive assets.

Recommended minimum investment timeframe

Medium (minimum 5+ years).

Investment objectives

Return: Over rolling ten-year periods, having a 60% probability of achieving a member investment return equivalent to CPI + 3% p.a.

Risk: The estimated chance that negative returns will occur in any financial year being less than one in 10.

Standard Risk Measure

Risk band: 3
Risk label: Low to Medium
Estimated number of negative annual returns over any 20-year period: 1 to less than 2.

Strategic asset allocation and long-term range as at 1 October 2016

LifetimePlus

LifetimePlus is a one-of-a-kind investment option that provides you with an income for life. Available to Pension members only.

Lifetime Plus

Investment overview

LifetimePlus will be invested in assets which aim to provide consistent, stable returns.
LifetimePlus is able to keep on providing an income due to its innovative design. It combines an investment strategy focused on capital preservation, with a unique longevity pool structure that aims to generate three types of income.

This option is designed to provide members with a stable investment return by investing in assets with typically consistent returns. These include, but are not limited to, cash, term deposits, rolling bank deposits and absolute return fixed income strategies. LifetimePlus may also invest opportunistically in other assets or strategies that are considered consistent with these objectives.

Unlike Media Super’s other investment options, LifetimePlus aims to generate different types of income (in addition to investment earnings) that will be credited directly to your pension account.

Further details on the types of income payments generated by LifetimePlus can be found in the ‘Earnings, payments, withdrawals and other benefits’ section earlier in this PDS.

Intended to be suitable for

LifetimePlus is generally designed for investors who:

  • Desire income throughout their retirement, above that offered by the Age Pension, regardless of how long they live;
  • Want to invest part of their pension or transition to retirement account in a conservative investment strategy.

Investment objectives

Return: To achieve a return (net of the indirect cost ratio and taxes [if any]) of plus 0.6% per annum above the Bloomberg AU Bank Bill Index, over rolling periods of one year or greater.
Risk: The estimated chance that negative returns will occur in any financial year is negligible.

Standard Risk Measure

Risk band: 1
Risk label: Very low
Expected number of years of negative returns over any 20-year period: less than 0.5.

Recommended minimum investment timeframe

LifetimePlus is designed to be held for life.

Investment Holdings

Approximate underlying assets held by Media Super as at 30 June 2016.

Total Fund Top 10 Assets

Top 20 Australian Shares Holdings

Top 10 Overseas Shares Holdings

Top 10 Direct Property Holdings

Top 10 Listed Property Holdings

Top 10 Infrastructure Holdings

More Investment Information

Investment policy

Like any other investment, super is subject to risk. Investment risk refers to the likelihood that your investment could lose money or not make as much as expected. These various risks are discussed in detail in both the Pension and Super Guide available at mediasuper.com.au/resources.

Your investments are managed so as to maximise return while limiting inherent investment risks by appropriate diversification, both within and between asset classes. A depressed investment environment may lead to a negative return on investments in any particular year. This could result in the value of your account falling in any particular year.

Media Super does not invest directly in derivatives; rather, external managers may make those investments on behalf of the Fund. An external investment manager may use derivatives as part of their management of the portfolio, or Media Super may direct the manager to use derivatives in a certain way and at a certain level. Derivatives can assist with the effective management of the Fund’s assets and include (but are not limited to) providing currency hedging on international investment holdings within the Fund. The Trustee does not allow these instruments to be used to gear the Fund. The Trustee expects that, over the long term, the use of these instruments will assist in managing the risk profile of Media Super. The Fund’s interest in any externally managed pooled fund shall not exceed 10 per cent of the assets of that pool, unless a larger investment is specifically authorised by the Trustee. No more than 20 per cent of the Fund’s assets will be managed by any one external fund manager, unless specifically authorised by the Trustee.

Who manages your money?

Allocations may include liquidity that is not yet invested. Note: exact breakdowns may vary slightly due to rounding.