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Fund factsheet BT Future Goals Fund

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Fund factsheet BT Future Goals Fund Powered By Docstoc
					BT Future Goals Fund     Fund Overview
                         Product Name                                                      BT Investment Funds
                         APIR                                                              BTA0044AU
                         Inception Date                                                    March 1991
Fact Sheet               Fund Status                                                       Open
                         Distribution Frequency                                            Quarterly
December 2009            Fund Size                                                         $654.80 million
                         ICR (Management Fee)                                              2.14%      As at 30/06/2009
                         Initial Fee                                                       4.00%
                         Asset Class                                                       Diversified Funds
                         Recommended Investment Timeframe                                  5 years+
                         Risk Category                                                     Dynamic

                         Latest unit prices (entry/exit) information is available at www.bt.com.au



Fund Management          The Fund is managed by BT Investment Management Limited (BTIM) together
                         with a number of external managers.

Investment Objective     The Fund aims to provide a return (before fees, costs and taxes) that exceeds
                         the Fund's benchmark over the medium to long term.

Investment Strategy      The Fund is an actively managed diversified portfolio that invests in Australian
                         and international shares, Australian and international property securities,
                         Australian and international fixed interest, cash and alternative investments. The
                         Fund has a significant weighting towards growth assets.

Investment Performance
                                                                Growth of $10,000 invested
                                                            Since inception (net of ongoing fees)


                                       60,000


                                       50,000


                                       40,000
                           Value ($)




                                       30,000


                                       20,000


                                       10,000


                                           0
                                                19 9    19 9    19 9      19 9     19 9       20 0      20 0       20 0      20 0      20 0
                                                    1       3       5         7        9          1         3          5         7         9
                                                                                   Month Ended

                                                                    BT Future Goals Fund                        Benchmark


                         Performance (%)                                             1 year           3 years        5 years           Since
                                                                        3 months
                         (as at 31/12/2009)                                           (pa)              (pa)           (pa)          Incep.(pa)
                         Income Return                                    0.32         2.70             3.62               3.40          5.93
                         Growth Return                                    2.28       15.22             -8.45               0.14          2.24
                         Total Return                                     2.60       17.93             -4.83               3.54          8.17
                         Benchmark Return                                 2.35       19.17             -1.79               5.45          9.04

                          Performance returns are calculated net of ICR (Management Fees) and pre tax.
                          Past performance is not a reliable indicator of future performance, the value of your
                          investment can go up and down.
Asset Allocation                                               Strategic Asset Allocation                             Neutral                 Ranges
                                                               Australian shares                                           45                  35-55
                                                               International shares                                        25                  17-37
                                                               Australian property                                         5                    0-10
                                                               International property                                      3                    0-10
                                                               Australian fixed interest                                   8                    0-20
                                                               International fixed interest                                4                    0-20
                                                               Alternative investments                                     8                    0-20
                                                               Cash and other                                              2                    0-10

                                                              By Sector Allocation (as at 31/12/2009)


                                                                      Australian Equities                                                           43.4%

                                                                          Global Equities                                     25.1%

                                                               Australian Listed Property         4.6%

                                                                  Global Listed Property         3.2%

                                                                Australian Fixed Interest                8.9%

                                                                    Global Fixed Interest        3.9%

                                                                       Alternative Assets               7.3%

                                                                           Cash & Other          3.7%

                                                                                            0%   5%     10%     15%   20%   25%   30%   35%   40%   45%     50%


                                                             The market exposure (asset allocation) and holdings of the fund may change significantly
                                                             each day.



Progress of the Portfolio                                    Fund Performance
Investment                                                   The Fund outperformed its benchmark during the December quarter after
                                                             positive performance from our Australian shares and alternative assets portfolios
                                                             outweighed poor performance from our international shares portfolio.
                                                             Important note: in December 2009, management of the portfolio’s global fixed
                                                             interest component was transferred from Principal Global Investors to BT
                                                             Investment Management.

                                                             Outlook
                                                             Our view is that a 'W-shaped’ recovery is likely. We are concerned that Western
                                                             banks are ‘warehousing’ their toxic assets rather than writing them off and this
                                                             will severely impact the global economic recovery. We also expect to see more
                                                             capital raisings as a result and central banks to keep interest rates lower for
                                                             longer. Investment grade credit still looks attractive while government bond
                                                             yields remain range-bound as increasing issuance drives yields higher and
                                                             sluggish economic growth acts as a cap.

Other Features                                               Make an initial investment of $5,000 or $2,000 if you set up a Regular
                                                             Investment Plan. No minimum investment required per Fund.

                                                             To invest with BT, ensure you have read the relevant Product Disclosure
                                                             Statement (PDS) for this fund and then complete a BT Online Application Form.
                                                             Alternatively, you can request a PDS and application form from our website or
                                                             call BT Customer Relations.

                                                             BT Margin Lending will loan against this Fund via a BT Margin Loan. The Loan
                                                             to Value Ratio (LVR) for this Fund is 75%. Lending ratios are subject to change
                                                             without notice.


                 More information?
                     Speak to your financial adviser                 Visit www.bt.com.au                     Contact BT Customer Relations 132 135

                 BT Funds Management Limited ABN 63 002 916 458, AFSL 233724, BT Funds Management No. 2 Limited ABN 22 000 727 659, AFSL
                 233720 and Westpac Financial Services Limited ABN 20 000 241 127, AFSL 233716 are the Responsible Entities of the BT Investment
                 Funds Product Disclosure Statement (PDS). BT Funds Management Limited ABN 63 002 916 458, AFSL 233724 is the issuer of units
                 in, the BT Future Goals Fund.

                 The PDS is available by calling BT Customer Relations on 132 135 or visit www.bt.com.au. You should consider the PDS in deciding
                 whether to acquire, or continue to hold, the Fund and consider whether the Fund is appropriate for you. This document (Fact Sheet)
                 does not take into account of your objectives, financial situation and needs. Because of this, you should, before acting on information in
                 this document, consider its appropriateness, having regard to your objectives, financial situation or needs and were commend you
                 consult a financial adviser.

                 Performance figures are calculated in accordance with the Investment and Financial Services Association (IFSA) standards. Total
                 returns are calculated to the last day of each month (unless otherwise indicated) using exit prices and assuming reinvestment of
                 distributions (which may include net realised capital gains from the sale of fund assets).

				
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Description: Fund factsheet BT Future Goals Fund