Investment Option: Cash⁵

From 1 July 2012
Suitability	This option may be suitable if you do not wish to take any investment risk as your priority is safeguarding of your investment capital.
Objective	To provide a return of 1% p.a. (1.5% Income Streams) (after fees and taxes) above the rate of inflation over a 1 year period.
Growth assets to defensive assets	100% defensive
Target asset allocations as at 1 July 2012 (asset allocation ranges are  shown in brackets)	Content goes here. Cash3 100% (100%)
Performance  (period 1 July to 30 June)	Accumulation Plan Crediting rate % p.a*	Beneficiary Account  Crediting rate % p.a*	Income Streams  Crediting rate % p.a*
2011/12	4.04	4.04	4.69
2010/11	4.12	4.12	4.86
2009/10	3.09	3.09	3.64
2008/09	2.84	2.61	3.08
2007/08	N/A	N/A	N/A
3 years – compound average p.a.	3.75	3.75	4.40
5 years – compound average p.a.	N/A	N/A	N/A
Minimum suggested  investment timeframe	1 year
Risk band#	1 – VERY LOW
Estimated number of negative  annual returns#	Less than 0.5 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.
* 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.