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Master Trust |
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OPTIONS, PROFILES & MANAGER CHANGES |
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Corporate Super and Personal Super options
Corporate Super and Personal Super options
There are two categories of options – Pre-mixed and Sector. Together, they offer members a wide choice of investment options, with varying levels of risk and return. Members can choose one or a mix of options to suit their preferences and profile. The Pre-mixed category offers a convenient, ready-made solution with options ranging from more aggressive (High Growth) to more conservative (Secure). Pre-mixed options invest across different asset classes in a pre-determined weighting and with automatic rebalancing, so there is no need to make adjustments when market conditions change. There’s also a choice of index and active management styles. The Sector category offers a
‘pick and mix’ menu across asset classes. These options
are suitable for investors who want to structure a particular mix
of asset classes for their investment portfolio and choose how much
money to invest in each sector.
Investment strategies The Product Disclosure Statement has details of the investment strategies of each option. Mix and match Members can mix and match the options any way they like as long as they have a minimum of 5% of their account balance in any one chosen option. Members can make different choices for their current super balance and for future contributions. Making an investment choice To make an investment choice, members should complete a Corporate Super: Change member details and options form or Personal Super: Change member details and options form and send it to the Aon Master Trust. If no choice is made, the trustee will automatically invest contributions in the default option chosen by the employer, or the Balanced – Index option if no default option has been chosen or the member has joined as a member of Personal Super. Changing an investment choice Members can login to their account online or send us a completed: Change member details and options form or Switching investment options form
There are two categories of options – Pre-mixed and Sector. Together, they offer a wide choice of investment options, with varying levels of risk and return. Members can choose one or a mix of options to suit their preferences and profile. The Pre-mixed category offers a convenient, ready-made solution with options ranging from more aggressive (High Growth) to more conservative (Secure). Pre-mixed options invest across different asset classes in a pre-determined weighting and with automatic rebalancing, so there is no need to make adjustments when market conditions change. There’s also a choice of index and active management styles. The Sector category offers a ‘pick and mix’ menu across asset classes. These options are suitable for investors who want to structure a particular mix of asset classes for their investment portfolio and choose how much money to invest in each sector.
Investment strategies The Pension Product Disclosure Statement has details of the investment strategies of each option. Mix and match Members can mix and match the options any way they like as long as they have a minimum of 5% of their account balance in any one chosen option. Making an investment choice To make an investment choice, the member completes the investment section in the application form in the Pension Product Disclosure Statement or a Pension: Change member details and options form and sends their completed form to us. If the member does not make a choice, the trustee will automatically invest their account in the Secure – Active option. Changing an investment choice The member completes a Pension: Change member details and options form or Pension: Switching investment options - current members form. Russell After-Tax Australian Shares Fund: May 2011 The Aon Master Trust has moved to the more tax-aware Russell After-Tax Australian Shares Fund for its core Australian share investment strategy. This move, which took place on 9 May 2011, will benefit members invested in our pre-mixed Active options (with the exception of Secure - Active), Australian Shares - Diversified and Australian Shares - Core. The fund manager, Russell Investments, uses a number of means to reduce tax liabilities in its after-tax share strategy. The net result is an expected higher return after tax and after fees (the management expense ratio will be unchanged). Russell Global Opportunities Fund: April 2011 Russell Investments has appointed two new managers; Delaware and Goodman to the Global Opportunities Fund. Subsequently, Axiom International Investors has been terminated. Relevant to the following Aon Master Trust options:
Russell Commodities Fund: March 2011 Russell Investments has appointed Jefferies Asset Management (Jefferies) to manage a 100% mandate within the Russell Commodities Fund - $A Hedged. Macquarie is no longer a manager in the Fund. Within commodities Jefferies seeks to achieve attractive returns across various strategies in all market conditions. Relevant to the following Aon Master Trust options (Corporate Super and Personal Super):
Russell Australian Opportunities Fund: November 2010 The carefully selected line up of managers in the Russell Australian Opportunities Fund will be augmented by Russell's model driven strategy, the Russell Australian Select Holdings Fund. See the Russell Australian Opportunities Fund profile (note: refresh your screen to override any cached version you may have on your PC). Relevant to the following Aon Master Trust options:
Russell International Shares Fund and Russell International Shares Fund - $A Hedged: November 2010 As active managers, Russell is constantly looking to maintain or improve the inherent alpha potential in all of their funds. Russell have announced a range of changes to their international shares products, including the appointment of two new managers (Barrow Hanley, Mewhinney & Strauss, and Sanders Capital), changes to the mandates for MFS and ICAP, and increased allocation to the Russell International Shares Tracker strategy. AllianceBernstein is no longer a manager within the Funds. See the Russell International Shares Fund profile (note: refresh your screen to override any cached version you may have on your PC). Relevant to the following Aon Master Trust options:
Russell Australian Cash Fund: October 2010 Russell has adopted a more conservative structure to ensure that during periods of financial stress the integrity of the Russell Australian Cash Fund in maintained. To do this, Russell has exited the Perpetual Cash Management Fund and has brought the management of these assets in-house. See the Russell Australian Cash Fund profile (note: refresh your screen to override any cached version you may have on your PC). Relevant to the following Aon Master Trust options:
Russell International Property Securities Fund - $A Hedged: September 2010 The Russell Select Holdings Strategy has been implemented into the Russell International Property Securities Fund - $A Hedged. Perennial is no longer a manager in the Fund. Relevant to the following Aon Master Trust options:
Russell Global Opportunities Fund: March 2010 Russell has appointed Tradewinds Global Investors to the above fund. Tradewinds is a boutique investment firm that emphasises a long-term, value-oriented approach to investing in international shares. Tradewinds looks for companies that have become severely undervalued due to market misperceptions, overreactions or investors’ fixation on short-term results. Relevant to the following Aon Master Trust options: Russell International Shares Fund and Russell International Shares Fund $A Hedged : December 2009 Russell has appointed Pzena Investment Management and Snow Capital Management to the above funds. Institutional Capital (ICAP) will now manage a global mandate in addition to their current US strategy. As a result of these changes, ClariVest is no longer a manager in these funds. Pzena is a value: market oriented manager with a strength in fundamental stock research and the ability to select stocks that are deeply undervalued on traditional criteria. Snow is a value: large cap manager and looks for stocks that have strong fundamentals and potential for price appreciation. ICAP’s global mandate emphasises multinational, large cap quality companies to implement their thematic investment strategy. Relevant to the following Aon Master Trust options:
Russell Australian Shares Tracker Fund: October 2009 Russell has appointed Dimensional Fund Advisors (Dimensional) to manage a 10% mandate within the Russell Australian Shares Tracker Fund. Dimensional is a value: deep value (small cap) manager and their appointment provides the fund with a more consistent exposure to the value premium. Subsequently, MIR is no longer a manager within that fund. The balance of MIR’s weighting in the fund (5%) has been split equally between value managers Perennial and AllianceBernstein. Relevant to the following Aon Master Trust options:
Russell Australian Bond Fund: October 2009 Russell Investments has appointed a fourth manager, Western Asset Management (Western Asset), to the Russell Australian Bond Fund. Western Asset’s appointment aims to provide greater style diversification within the Core Plus component of the Fund. relevant to the following Aon Master Trust Options: Change of infrastructure manager—BGI to Vanguard: October 2009 The Aon Master Trust has decided to gain exposure to the listed infrastructure asset class via Vanguard rather than BGI. The change is part of the Aon Master Trust's ongoing work in removing unrewarded or unnecessary risk from its superannuation and allocated pension funds. Vanguard provides access to an investment strategy that more strongly reflects the characteristics of infrastructure investments. Infrastructure investments are characterised by high-yielding investments in assets with monopolistic power and which offer protection against inflation. This fund manager change is expected to result in more stable investment returns from infrastructure with lower volatility. Relevant to the following Aon Master Trust options:
Russell Australian Opportunities Fund: August 2009 Russell has terminated MIR's active extension mandate in the Russell Australian Opportunities Fund. Relevant to the following Aon Master Trust options: Russell International Bond Fund $A Hedged: August 2009 Russell has replaced Drake Capital Management with Hyperion Brookfield Asset Management as sector specialist within the Russell International Bond Fund $A Hedged. Hyperion Brookfield specialises in securitised investments. Relevant to the following Aon Master Trust options:
Russell International Property Securities Fund $A Hedged: July 2009 The Russell International Property Securities Fund $A Hedged is moving to fully global mandates. Russell has announced the following enhancements within the Fund as part of this move:
Relevant to the following Aon Master Trust options:
Index fund manager July 2009 The Aon Master Trust has appointed Vanguard Investments Australia Ltd as index fund manager, replacing State Street Global Advisors (SSgA). The Australian investments were transferred from SSgA to Vanguard in June 2009, as follows: SSgA Australian Equities Index Trust —> Vanguard Australian Shares Index Fund The international investments will be transferred gradually, as follows: SSgA International Equities Index Trust —> Vanguard International Shares Index Fund See Aon Master Trust index fund manager – move to Vanguard. Growth – Active, Balanced – Active, Capital Stable – Active, Secure – Active, Fixed Interest – Diversified, Fixed Interest – Australian July 2009 On 30 April 2009, Aberdeen Asset Management completed its acquisition of certain asset management businesses of Credit Suisse in Australia. This acquisition affects the Russell Australian Bond Fund. International Shares – Diversified, International Shares – Core and International Shares – Core ($A hedged) April 2009 Russell has replaced Turner with Columbus Circle Investors as large cap growth manager within the Russell International Shares Fund. Columbus's amalgamation of macroeconomic, industry level and company data is a key differentiator in their investment process. Australian Shares – Opportunities January 2009 Russell has replaced JM Financial Management with Orbis Investment Management. Orbis is a boutique Australian share manager that uses a value approach to selecting stocks.
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