RBF Tasmanian Accumulation Scheme - Member Investment Choice changes
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
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
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
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
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
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
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
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
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
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