For conservative, absolute return-orientated global investors.

The fund is a conservatively managed portfolio of listed securities on global exchanges including equities, exchange traded funds, interest-bearing securities, property and cash deposits.The investment managers will allocate assets across these asset classes in a fully flexible manner in variable weightings as appropriate.The fund aims to achieve long-term inflation-beating US$ returns over rolling five-year periods, resulting in equity like long-term returns, but with lower risk.

Notwithstanding the flexible asset allocation policy, the fund outperforms world equity markets over the long term with lower volatility and a lower risk of loss (as measured by maximum drawdowns). The graph below shows the funds annualised returns and the US inflation rate over the rolling five-year cycles and the real return over the same period. The graph demonstrates that the fund has consistently delivered real returns of approximately 5% per annum in US dollars over rolling five-year cycles.

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