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Retirement Products Fund Profiles
| BT Lifetime Flexible Pension |
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Overview:
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BT Lifetime - Flexible Pension is suitable for individuals who have access to their superannuation, generally people who have retired and wish to receive a regular income stream from a flexible and tax-effective product with a wide selection of Investment Options. The BT Lifetime Super Fund is a regulated super fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS). The Trustee is a member of the BT Financial Group of Companies. BT Financial Group (BT) has been helping Australians create and manage wealth since 1969. BT’s core business is providing investment, margin lending, superannuation and retirement income products. As at March 2007 BT managed and administered more than $90 billion. In both Australia and New Zealand, BT provides a diverse range of Investment Options, including funds managed by BT’s own team and through alliances with global investment managers. BT is the wealth management arm of the Westpac Group. Westpac has been delivering banking and other financial services to Australians since 1817. |
| Year of Establishment: |
1993 |
| Value of Funds: |
$430 million (as at June 2007) |
| Key Features: |
- Accepts:
-Rollovers of a superannuation benefit classed as unrestricted non-preserved
-Rollover of a superannuation benefit classed as preserved or restricted non-preserved
for which a condition of release is immediately met
-Non-concessional personal and spouse contributions where a condition of release is immediately met subject to the contributions cap
-Reversionary beneficiary
- Minimum investment $25,000
- Additional contribution(s) (a new application is required) $15,000
- Minimum switching amount $1,000
- Minimum withdrawal (partial) $5,000
- 17 Investment Options covering different asset classes and investment styles
- Regular reporting and on-line access to your account
- Payment frequency options are monthly, quarterly or yearly
- Able to withdraw funds in part or in full at any time using appropriate forms
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| Asset Consultant: |
Watson Wyatt |
| Custodians: |
HSBC |
| Administrator: |
BT Financial Group (BT) |
| Auditor: |
PriceWaterhouseCoopers |
| INVESTMENT OPTIONS |
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| Note: Further Investment Options are available within the Fund |
| BT Australian Share |
Invests primarily in Australian Shares |
| BT Future Goals |
Invests in a high mix of growth assets |
| BT Property Securities |
Invests primarily in listed property trusts and property related companies |
| Colonial First State Australian Shares |
Diversified portfolio of shares in Australian companies |
| Merrill Lynch Balanced |
Predominately invests in growth assets |
| MLC Growth |
Focuses on growth assets through high exposure to shares |
| Multi-manager Growth |
Invests in a high mix of growth assets |
| BT International Share |
Invests in a selection of international shares |
| BT Balanced Returns |
Balanced mix of growth & income producing assets |
| BT Conservative Outlook |
Invest mainly in fixed interest & cash with some exposure to shares & property |
|
Conribution Fee Investment Options |
Performance to 30 June 2007 (%) |
|
1yr |
3yr |
5yr |
| BT Conservative Outlook |
7.94% |
8.62% |
7.59% |
| BT Balanced Returns |
12.85% |
13.78% |
10.28% |
| Merrill Lynch Balanced |
13.54% |
14.33% |
10.16% |
| BT Property Securities |
24.46% |
18.87% |
17.15% |
| Colonial First State Australian Shares |
20.64% |
25.47% |
17.40% |
| BT Australian Share |
25.34% |
26.72% |
19.63% |
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Multi-manager Growth |
17.53% |
15.64% |
11.90% |
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BT Future Goals |
16.37% |
17.12% |
12.27% |
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MLC Growth |
16.69% |
15.81% |
11.55% |
| BT International Share |
5.02% |
7.94% |
2.52% | | .
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Nil Contribution Fee Investment Options |
Performance to 30 June 2007 (%) |
|
1yr |
3yr |
5yr |
| BT Conservative Outlook |
7.80% |
8.25% |
7.22% |
| BT Balanced Returns |
12.65% |
13.36% |
9.85% |
| Merrill Lynch Balanced |
13.40% |
13.98% |
9.86% |
| BT Property Securities |
24.04% |
18.34% |
16.68% |
| Colonial First State Australian Shares |
20.36% |
25.12% |
17.04% |
| BT Australian Share |
24.91% |
26.14% |
19.18% |
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Multi-manager Growth |
17.15% |
15.39% |
11.51% |
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BT Future Goals |
16.06% |
16.72% |
12.01% |
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MLC Growth |
16.47% |
15.43% |
11.44% |
| BT International Share |
4.57% |
7.35% |
2.00% |
| Extra Benefits: |
Financial Adviser referral program, Financial Seminars, Online Account Details, Online Transactions |
| Communications: |
Newsletters, Publications and Monthly Investment Performance available on website. |
| FEES |
| Contribution Fee |
Contribution Fee upfront - Nil for BT Cash, 0.4% for all other Investment Options
Contribution Fee later - Nil |
| Withdrawal Fee |
Contribution Fee upfront - Nil
Contribution Fee later - 4% if withdrawn within 1 year, 3% if withdrawn between 1 & 2 years, 2% if withdrawn within 2 & 3 years, 1% if withdrawn within 3& 4 years and Nil after 4 years |
| Management Cost - ongoing fee (% p.a.) |
Contribution Fee upfront 1.25% - 2.20% p.a.
Contribution Fee later 1.65% - 2.60% p.a. |
Management Cost - investment fee
(% p.a.) |
Included as part of ongoing management fee
Management Cost - other Expense Recoveries
-For contribution Fee upfront options 0.02% - 0.62% pa
-For contribution fee later options 0.04% - 0.63% p.a. |
| Switching Fee |
Nil, however a Contribution Fee of 0%-4% may apply if switching from the BT Cash Investment Option to another Investment Option |
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