Conservative

This suits investors with a minimum two-year timeframe or those that seek a portfolio

invested predominantly in interest bearing assets, with a small proportion of growth assets. This portfolio

also suits investors who give a high priority to the preservation of capital and are therefore willing to accept

lower potential investment performance, hence the 85 percent exposure to income assets (cash and fixed

interest). Historically, the above asset allocation has produced a negative return once every 11.7 years.

Moderately Conservative

This suits investors with a minimum three-year timeframe or those who seek a

portfolio with an emphasis on interest bearing assets, with some exposure to growth asset classes. This

portfolio also suits investors seeking a lower level of investment value volatility, and therefore willing to

accept lower potential investment performance, hence the 70 percent exposure to income assets (cash and

fixed interest). Historically, the above asset allocation has produced a negative return once every 7.9 years.

Balanced

This suits investors with a minimum five-year timeframe. This portfolio also suits investors who

desire a modest level of capital stability but are willing to accept moderate investment value volatility in

return for commensurate potential investment performance, hence the 50 percent exposure to growth

assets (shares, listed property and infrastructure) and 50 percent exposure to income assets (cash and fixed

interest). Historically, the above asset allocation has produced a negative return once every 5.4 years.

Growth

This suits investors with a minimum seven-year timeframe or those who are willing to accept

higher levels of investment value volatility in return for higher potential investment performance. Some

exposure to interest bearing assets is still desired, but the primary concern is a higher return, hence the 70

percent exposure to growth assets (shares, listed property and infrastructure). Historically, the above asset

allocation has produced a negative return once every 4.4 years.

High Growth

This suits investors with a minimum nine-year timeframe or those who are willing to accept

high levels of investment value volatility in return for high potential investment performance. The 85

percent exposure to growth assets (shares, listed property and infrastructure) means that capital stability is

only a minor concern. Historically, the above asset allocation has produced a negative return once every 4

years.

Aggressive

This suits investors with a minimum ten-year timeframe or those who are willing to accept

very high levels of investment value volatility to maximise potential investment performance. The 100

percent exposure to growth assets (shares, listed property and infrastructure) means that capital stability is

not a consideration. Historically, the above asset allocation has produced a negative return once every 3.7

years.