Objective

To achieve positive real returns over the medium to long term with volatility of returns expected to be lower than that of equities options.

Return Objective

CPI + 2.0% over rolling 5 years.

Probability of negative return in any one year

2 in 20

Risk

Medium – Investment returns could experience low or high levels of variation from one year to the next.

Target Asset Allocation

100% Defensive Assets

Strategic Asset Allocation

Fixed interest 100%

Date established

May 2003

Performance

Year ended 30 June	Return (p.a.)
2003	1.2%
2004	3.3%
2005	7.7%
2006	3.0%
2007	4.4%
2008	0.3%
2009	6.2%
2010	4.8%
2011	6.6%

More information

For latest returns and market report, see the Performance section