Investment Option: Balanced

From 1 November 2011
Suitability	This option may be suitable if you want a growth component in your investments to help protect capital against inflation, some income to smooth returns although short term volatility of capital many occur.
Objective	To provide a return of 3% p.a. (after fees and taxes) above the rate of inflation over a 5 year period.
Growth assets to defensive assets	60% growth and 40% defensive (growth range 55-65)
Interim strategic asset allocations as at 1 October 2011 (asset allocation ranges are shown in brackets)	Content goes here. Australian shares 10.5% (5-20%) Overseas shares1 15% (5-20%) Property 9.5% (5-10%) Alternative assets - growth 25% (15-35%) Fixed interest2 20% (20-50%) Alternative assets - defensive 5% (0-15%) Short term securities4 7.5% (0-15%) Cash 7.5% (0-15%)
Performance (period 1 July to 30 June)	Credit rate % p.a*
2010/11	8.49
2009/10	8.80
2008/09	-6.66
2007/08	-1.55
2006/07	10.75
3 years – compound average p.a.	3.28
5 years – compound average p.a.	3.74
Minimum suggested investment timeframe	5 years
Risk band#	3 – LOW TO MEDIUM
Estimated number of negative annual returns#	1 to less than 2 over any 20 year period#

1. A policy of maintaining a benchmark currency hedge of 50% applies to overseas shares. This may change from time to time as determined by the Emergency Services Superannuation Board (the Board).
2. A policy of maintaining a benchmark currency hedge of 100% applies to overseas fixed interest. This may change from time to time as determined by the Emergency Services Superannuation Board (the Board).
3. Invested 100% in cash, therefore range is not applicable.
4. Short-term securities includes higher yield securities, corporate debt securities and similar financial instruments which may fluctuate in value.
* Past performance is not a reliable indicator of future performance and should not be relied upon for making investment decisions.
# The standard risk measure is based on industry guidance so that members can compare investment options and periods of negative annual returns over a 20 year period. The standard risk measure is not a complete assessment of all forms of investment risk, for instance, it does not detail the likely size of a negative return or the potential for a positive return to be less than a member may require to meet their objectives. Further, it does not take into account the impact of administration fees and tax on a negative return. Members should still ensure they are comfortable with the risks and potential losses associated with chosen investment option/s.