Investment objective

To achieve a return (gross of tax and investment expenses) that is equal to the UBS Australian Bank Bill Index.

Investment strategy

To invest in a portfolio consisting primarily of bank deposits, but may include other short-term securities such as highly liquid fixed-interest investments or money market securities.

Strategic asset allocation

Suggested minimum investment time frameN/A
Expected frequency of neg. annual returns in any 20-year periodNegligible
Risk band**1
Risk label**Very low
Investment fee#  0.04% p.a.
(0.05% p.a. gross of tax)
Indirect cost ratio^0.00% p.a.

*The money invested in your cash option is invested in Members Equity Bank Limited deposits, up to to the limit as specified in the Financial Claims Scheme (which, as at 1 October 2018, is $250,000). The amount above this level is invested in highly rated cash management trusts. 

**The risk label and band is based upon each investment option's assumed number of negative returns over a 20-year period and grades these investment options across seven risk labels, from 'very low risk' (risk band 1) to 'very high risk' (risk band 7).

#The investment fee is a measure of the fees deducted from investments. These fees include the cost of the fund's investment managers, custodian and investment advisor and certain other costs of the fund. The investment fee is the total of these costs, divided by the net asset value of the fund. These fees are deducted directly from the investment earnings before they are allocated to member accounts. They are therefore not deducted from your super account directly.

^The indirect cost ratio (ICR) represents estimated costs incurred by the fund’s investment managers before investment earnings are received. These costs take into account the fund’s experience in the last financial year and are not deducted from your account or from the fund’s assets. They include estimated transactional and operational costs (as detailed in our Fees and Costs booklet) and performance-related fees.