Aggressive, Growth, Balanced and Conservative Funds

Each of these four funds has a different investment objective and pursues a different investment strategy. Your return will depend principally on the investment option chosen by you.

The different objectives mean different proportions are invested in different assets. However, the objectives of these funds as set by the Scheme's Trustee from time to time, are indicated by the asset allocations applicable, and currently can be summarised as follows:

 

Investment Option Growth Assets
(i.e. overseas equities, domestic equities, property)
Income Assets
(i.e. cash, international bonds, domestic bonds)
Aggressive Fund 90% 10%
Growth Fund 70% 30%
Balanced Fund 50% 50%
Conservative Fund 20% 80%

Within each of these asset classes, the current target asset allocation of each Fund has a range of investments including overseas equities (hedged, un-hedged and socially responsible investment funds), Trans-Tasman equities, property, overseas and New Zealand fixed interest securities and cash.  The target asset allocation of these Funds are set out in the tables below:

Asset Class Product Aggressive Growth Balanced Conservative
NZ equities AMP Capital New Zealand Shares Index Fund 20.0% 15.0% 10.0% 5.0%
Int. equities Wholesale Unit Trust MSCI Global Index Shares Fund 44.0% 26.5% 17.7% 5.9%
  AMP Capital Global Hedged Global Index Shares Fund 10.0% 9.5% 9.3% 3.1%
  AMP Capital Responsible Investment Leaders Global Shares Fund 6.0% 4.0% 3.0% 1.0%
Global listed property AMP Capital NZ Property Fund 10.0% 15.0% 10.0% 5.0%
Total Growth Assets   90.0% 70.0% 50.0% 20.0%
           
NZ fixed interest ANZ NZ Fixed Interest Strategy * 3.0% 10.0% 20.0% 35.0%
Int. fixed interest AMP Capital Global Fixed Interest Fund 5.0% 15.0% 20.0% 15.0%
Cash ANZ Wholesale Cash Fund 2.0% 5.0% 10.0% 30.0%
Total Income Assets   10.0% 30.0% 50.0% 80.0%

* The ANZ NZ Fixed Interest Strategy invests 50% into the ANZ Wholesale Sovereign Bond Fund and 50% into the ANZ Wholesale High Grade Bond Fund.

Aggressive Fund

The Aggressive Fund target asset allocations are 90% in growth assets and 10% in income assets.  Its objective is to achieve a high level of real returns over the medium to long term primarily through investment in equities, accepting that the returns may be subject to significant short term variations.

The target asset allocation of this fund is set by the Scheme's Trustee from time to time. The current target is indicated in the diagram below.

Enhanced Growth

AMP Capital Investors (New Zealand) Limited and ANZ New Zealand Investments Ltd currently jointly manage the underlying assets in the Aggressive Fund.

AMP Capital Investors (New Zealand) Limited

As at 28 February 2015 AMP Capital Investors (New Zealand) Limited has over $19 billion of funds under management. AMP Capital Investors (New Zealand) Limited operates with a pure investment focus independently but with the benefit of the resources of its parent AMP Limited which is listed on the Australian and New Zealand stock exchanges.

ANZ New Zealand Investments Ltd

ANZ New Zealand Investments Limited (ANZ Investments) is one of New Zealand's largest fund managers and manages more than $25 billion in investments as at 31 December 2016. ANZ Investments form part of ANZ Group and their investment business has operated in New Zealand since 1989.

Growth Fund

The Growth Fund target asset allocations are 70% in growth assets and 30% in income assets.  Its objective is to achieve positive real returns over the medium to long term through investment in growth assets, while managing volatility through diversification of the Fund’s assets.

The target asset allocation of this fund is set by the Scheme's Trustee from time to time. The current target is indicated in the diagram below.

Enhanced Balanced

AMP Capital Investors (New Zealand) Limited and ANZ New Zealand Investments Ltd currently jointly manage the underlying assets invested in the Growth Fund.

AMP Capital Investors (New Zealand) Limited

As at 28 February 2015 AMP Capital Investors (New Zealand) Limited has over $19 billion of funds under management. AMP Capital Investors (New Zealand) Limited operates with a pure investment focus independently but with the benefit of the resources of its parent AMP Limited which is listed on the Australian and New Zealand stock exchanges.

ANZ New Zealand Investments Ltd

ANZ New Zealand Investments Limited (ANZ Investments) is one of New Zealand's largest fund managers and manages more than $25 billion in investments as at 31 December 2016. ANZ Investments form part of ANZ Group and their investment business has operated in New Zealand since 1989.

Balanced Fund

The Balanced Fund target asset allocations are 50% in growth assets and 50% in income assets.  Its objective is to reduce the likelihood of negative returns over the short to medium term through higher proportions of investment in defensive assets, such as cash and bonds, while still providing a reasonable opportunity for positive real returns over the longer term by investing a reasonable proportion of the Fund in growth assets such as equities and property.

The target asset allocation of this fund is set by the Scheme's Trustee from time to time. The current target is indicated in the diagram below.

Enhanced Income

AMP Capital Investors (New Zealand) Limited and ANZ New Zealand Investments Ltd currently jointly manage the underlying assets in the Balanced Fund.

AMP Capital Investors (New Zealand) Limited

As at 28 February 2015 AMP Capital Investors (New Zealand) Limited has over $19 billion of funds under management. AMP Capital Investors (New Zealand) Limited operates with a pure investment focus independently but with the benefit of the resources of its parent AMP Limited which is listed on the Australian and New Zealand stock exchanges.

ANZ New Zealand Investments Ltd

ANZ New Zealand Investments Limited (ANZ Investments) is one of New Zealand's largest fund managers and manages more than $25 billion in investments as at 31 December 2016. ANZ Investments form part of ANZ Group and their investment business has operated in New Zealand since 1989.

Conservative Fund

The Conservative Fund target asset allocations are 20% in growth assets and 80% in income assets.  Its objective is to reduce the likelihood of negative returns over the short term. It has higher proportions of investment in defensive assets, such as cash and bonds, while still providing an opportunity for positive real returns over the longer term by investing a smaller proportion of the Fund in growth assets such as equities and property.

The target asset allocation of this fund is set by the Scheme’s Trustee from time to time. The current target is indicated in the diagram below.

Conservative

AMP Capital Investors (New Zealand) Limited and ANZ New Zealand Investments Ltd currently jointly manage the underlying assets invested in the Conservative Fund.

AMP Capital Investors (New Zealand) Limited

As at 28 February 2015 AMP Capital Investors (New Zealand) Limited has over $19 billion of funds under management. AMP Capital Investors (New Zealand) Limited operates with a pure investment focus independently but with the benefit of the resources of its parent AMP Limited which is listed on the Australian and New Zealand stock exchanges.

ANZ New Zealand Investments Ltd

ANZ New Zealand Investments Limited (ANZ Investments) is one of New Zealand's largest fund managers and manages more than $25 billion in investments as at 31 December 2016. ANZ Investments form part of ANZ Group and their investment business has operated in New Zealand since 1989.