Defensive: This portfolio focuses entirely on investments with little or no risk of capital loss over a short time frame. As such the return will be low and consistent compared with the other risk options offered. The portfolio is restricted in its ability to reduce taxable income or the tax effectiveness of that income. It is not an appropriate investment option for medium to long term investors seeking capital growth. Investments are predominantly in defensive assets to achieve minimal risk. Regular income is important. No investments are made in offshore equities. The long term objective of this style of investment is the CPI plus 1.5% per annum.

Conservative: This is an income portfolio which has a small exposure to capital growth assets. The main emphasis is on generating income, with some capital risk in order to achieve overall portfolio growth. It will have a low fluctuation in short term value, with some small short term capital risk. The income generated by the fund will have a small tax benefit from some share dividend franking credits. It is suited to an investor who either seeks a high level of income or has a short investment time frame. This strategy is dominated by investment in defensive assets. A small allocation to growth assets provides some capital growth, and investment offshore is considered appropriate. The long term objective of this style of investment is the CPI plus 2.5% per annum.

Balanced: For investors who are seeking an income stream with some capital growth attached. It has a high exposure to fixed interest, but also includes exposure to share and property markets. It is suited to a medium term investor who is seeking capital stability, but who also wants to protect their assets from inflation. Some tax relief on income is available from franking credits. The fluctuation of price is moderate to low over the short to medium term. This strategy provides a balance between growth and defensive assets and a balance between domestic and offshore investment. The long term objective of this style of investment is the CPI plus 3.0% per annum.

Growth: Using a slightly higher exposure to growth assets than income assets, this portfolio will have lower short term fluctuations in value than the other growth based investment portfolios. Its aim is to produce capital growth in a medium to long term time frame. It has a “balanced” exposure to shares, property and fixed interest assets, while the income generated by the portfolio will be partly tax effective. This strategy has a modest bias to growth assets, with a weighting in favour of regular income producing sectors and value style managers. The long term objective of this style of investment is the CPI plus 3.5% per annum.

Growth with Income: A small income exposure slightly reduces the short term fluctuations of the Growth portfolio. It is best suited to a long term investor who can accept some investment risk over the long term. The income stream will be tax effective and it will have a high exposure to shares and property to provide long term investment growth. This strategy focuses predominantly on growth assets almost equally weighted between Australian and offshore investments. The long term objective of this style of investment is the CPI plus 4.0% per annum.

Aggressive Growth: A totally share and property based portfolio with little or no fixed interest exposure. It has a strong emphasis on maximising capital growth over the long term. The aim is to produce a minimal, tax effective income. Investors can expect high short term fluctuations in values. However, they are prepared to accept this as a trade off in achieving their long term investment objective. In this strategy, growth assets are equally weighted between Australian and offshore investments. The long term objective of this style of investment is the CPI plus 4.5% per annum.