The CFS Investments team has made some adjustments to the asset allocation of the CFS Index series with the aim of improving investor outcomes.
The changes are (where applicable):
1. Switching a portion of the fixed interest allocation from global to Australian securities.
2. Increasing the proportion of the global share allocation that is hedged against currency movements.
3. Increasing the allocation to global emerging market shares from a mix of global shares and global property securities.
Some of these require corresponding changes to the composite benchmarks, as follows:
CFS Index Conservative
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
15.00%
15.00%
No change
Australian fixed interest
Bloomberg AusBond Composite 0+ Yr Index
26.00%
30.00%
4.00%
Global fixed interest
Bloomberg Global Aggregate Corporate Index (AUD hedged)
29.00%
25.00%
-4.00%
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
2.00%
2.00%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
2.00%
1.00%
-1.00%
Global shares
MSCI All Country World ex Australia Net Index
10.50%
10.00%
-0.50%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
5.50%
6.00%
0.50%
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
1.00%
1.00%
Australian shares
S&P/ASX 300 Total Return Index
10.00%
10.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 2% to 1%
- Global shares – increase from 16% to 17%
CFS Index Diversified
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
10.00%
10.00%
No change
Australian fixed interest
Bloomberg AusBond Composite 0+ Yr Index
19.00%
23.00%
4.00%
Global fixed interest
Bloomberg Global Aggregate Corporate Index (AUD hedged)
21.00%
17.00%
-4.00%
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
3.00%
3.00%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
3.00%
2.00%
-1.00%
Global shares
MSCI All Country World ex Australia Net Index
16.50%
16.00%
-0.50%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
9.50%
9.50%
No change
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
1.50%
1.50%
Australian shares
S&P/ASX 300 Total Return Index
18.00%
18.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 3% to 2%
- Global shares – increase from 26% to 27%
CFS Index Moderate
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
8.00%
8.00%
No change
Australian fixed interest
Bloomberg AusBond Composite 0+ Yr Index
16.00%
19.00%
3.00%
Global fixed interest
Bloomberg Global Aggregate Corporate Index (AUD hedged)
16.00%
13.00%
-3.00%
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
4.00%
4.00%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
4.00%
3.00%
-1.00%
Global shares
MSCI All Country World ex Australia Net Index
18.00%
17.00%
-1.00%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
11.00%
11.00%
No change
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
2.00%
2.00%
Australian shares
S&P/ASX 300 Total Return Index
23.00%
23.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 4% to 3%
- Global shares – increase from 29% to 30%
CFS Index Balanced
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
4.00%
4.00%
No change
Australian fixed interest
Bloomberg AusBond Composite 0+ Yr Index
13.00%
16.00%
3.00%
Global fixed interest
Bloomberg Global Aggregate Corporate Index (AUD hedged)
13.00%
10.00%
-3.00%
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
4.50%
4.50%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
4.00%
3.00%
-1.50%
Global shares
MSCI All Country World ex Australia Net Index
21.00%
20.00%
-1.00%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
14.00%
14.00%
No change
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
2.50%
2.50%
Australian shares
S&P/ASX 300 Total Return Index
26.00%
26.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 4.5% to 3%
- Global shares – increase from 35% to 36.5%
CFS Index Growth
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
2.00%
2.00%
No change
Australian fixed interest
Bloomberg AusBond Composite 0+ Yr Index
9.00%
12.00%
3.00%
Global fixed interest
Bloomberg Global Aggregate Corporate Index (AUD hedged)
9.00%
6.00%
-3.00%
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
5.00%
5.00%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
5.00%
3.50%
-1.50%
Global shares
MSCI All Country World ex Australia Net Index
24.00%
23.00%
-1.00%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
16.00%
16.00%
No change
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
2.50%
2.50%
Australian shares
S&P/ASX 300 Total Return Index
30.00%
30.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 4.5% to 3%
- Global shares – increase from 40% to 41.5%
CFS Index High Growth
Previous
New
Change
Cash
Bloomberg AusBond Bank Bill Index
1.00%
1.00%
No change
Global infrastructure securities
FTSE Developed Core Infrastructure 50/50 Net Index Hedged AUD
6.00%
6.00%
No change
Global property securities
FTSE EPRA/NAREIT Developed ex Australia Rental Index NTR (AUD hedged)
6.00%
4.00%
-2.00%
Global shares
MSCI All Country World ex Australia Net Index
30.00%
29.00%
-1.00%
Global shares - hedged
MSCI All Country World ex Australia Net Index Hedged AUD
20.00%
20.00%
No change
Global shares – emerging markets
MSCI Emerging Markets Net Index
0.00%
3.00%
3.00%
Australian shares
S&P/ASX 300 Total Return Index
30.00%
30.00%
No change
Changes to the overall “Target” asset allocation as per the PDS:
- Global property securities – decrease from 6% to 4%
- Global shares – increase from 50% to 52%
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For more information about these changes, please refer to the relevant PDS, speak to a financial adviser if you have one, or call us on 13 13 36, 8:30am to 6pm Monday to Friday Sydney time.
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Things you should know
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Wholesale Investments and other managed investment schemes.
Information on this webpage is provided by CFSIL. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at https://www.cfs.com.au/tmd which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling us on 13 13 36.