RBF Tasmanian Accumulation Scheme - Member Investment Choice changes

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RBF Tasmanian Accumulation Scheme - Member Investment Choice changes

18/09/2013
Provided by RBF.

The RBF Board regularly reviews RBF's range of Member Investment Choice options. As a result of a recent review, RBF has made some important changes relating to investment management fees and the asset allocations of these options.

We are pleased to provide an overview of these changes below. However, if you have any further queries, please call the RBF Enquiry Line on 1800 622 631.


Changes to investment management fees effective from 1 December 2012

RBF has restructured the way in which investments are made in Australian shares. This restructure has enabled RBF to implement a number of cost savings and as a result there has been a decrease in the investment management fees on some Member Investment Choice options. The fee changes that were effective from 1 December 2012 are shown in the table below:


Changes to investment management fees effective from 1 July 2013

RBF has recently completed the annual review of the investment management fees that will apply to all Member Investment Choice options from 1 July 2013. This has resulted in some fees increasing and others decreasing. We are also changing the way performance fees are charged and how we will disclose these to you.

Performance fees may be paid by RBF to investment managers who deliver investment returns that outperform a predefined target. All of RBF's Member Investment Choice options, except the RBF Fixed Interest and the RBF Cash options, have some exposure to investment managers that may be entitled to receive a performance fee. The current investment management fees set by RBF include a component to recover performance fees which were paid in previous financial year.

From 1 July 2013, RBF will commence recovering performances fees from members if and when they are incurred. The new investment management fees, shown in the last column in the table below, are the base investment management fees and exclude any performance fees. The table includes the current investment management fee and the performance fees charged for 2012-13 for comparative purposes. Please note that past performance fees paid are not an indicator of future performance fees. Those options that will see a fee increase from 1 July 2013 are also highlighted.


 

*For 2012-13 these fees have been disclosed as the investment management fee and comprise both the base investment management fee and the performance fee.

For more information on the fees currently applicable to the RBF Member Investment Choice options please refer to the 'Fact sheet: Fees and costs'.

For more information about the RBF Member Investment Choice options and investing in general please read the following documents:

  • 'Fact sheet: How we invest your money';
  • 'Fact sheet: Risks of super'; and
  • 'Fact sheet: Fees and costs'.

Please read these documents carefully and ensure you understand the changes before making any decisions about your Member Investment Choice options. You can obtain copies from the Documents and Forms section of this website Forms and Publications section of this website.


Changes to the asset allocations

RBF sets an asset allocation for each Member Investment Choice option which defines the percentage (or weighting) of the total portfolio invested in each asset class.

To enable RBF greater flexibility and to be more proactive in responding to market events, RBF has introduced asset allocation ranges for RBF Conservative Growth, RBF Moderate Growth and RBF Long Term Growth.

Below is a summary of RBF's current asset allocation and the range that will be introduced from 1 July 2013. This range represents the minimum and maximum allocation to each asset class for RBF Conservative Growth, RBF Moderate Growth and RBF Long Term Growth. This will allow RBF to more efficiently implement further changes to asset allocations (either up or down) within the ranges shown.

 

If you need further assistance

If you would like to know more, please call the RBF Enquiry Line on 1800 622 631.

Alternatively, you are welcome to make an appointment with a Superannuation Consultant who can provide you with general information about Member Investment Choice. Please contact the RBF Enquiry Line to book an appointment.

If you need to discuss your investment options further, you can speak to a qualified financial planner by calling RBF Financial Planning on 1300 378 057. RBF Financial Planning (ABN 17 094 816 412, AFS Licence No. 239171) is a wholly owned subsidiary of RBF and operates as a separate legal entity.

 



This information has been prepared by RBF for general information only. The information does not take into account your personal objectives, financial situation or needs. Therefore, you should not act on this information if you have not considered the appropriateness of this information to your personal objectives, financial situation and needs. You should consult a licensed or appropriately authorised financial adviser before making any financial decision.

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