"Fund factsheet BT Active Balanced Fund"
BT Active Balanced Fund Fund Overview Product Name BT Investment Funds APIR RFA0020AU Inception Date October 2003 Fact Sheet Fund Status Open Distribution Frequency Quarterly December 2009 Fund Size $30.94 million ICR (Management Fee) 1.95% As at 30/06/2009 Initial Fee 4.00% Asset Class Diversified Funds Recommended Investment Timeframe 5 years+ Risk Category Moderate 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 higher weighting towards growth assets than defensive assets. Investment Performance Growth of $10,000 invested Since inception (net of ongoing fees) 20,000 Value ($) 10,000 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 20 0 3 4 4 5 5 6 6 7 7 8 8 9 9 Month Ended BT Active Balanced Fund Benchmark Performance (%) 1 year 3 years 5 years Since 3 months (as at 31/12/2009) (pa) (pa) (pa) Incep.(pa) Income Return 0.55 3.97 8.54 7.41 6.63 Growth Return 1.95 12.41 -11.78 -3.61 -0.97 Total Return 2.50 16.38 -3.24 3.80 5.66 Benchmark Return 2.10 16.64 -0.45 5.64 7.82 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 38 28-48 International shares 20 12-32 Australian property 5 0-10 International property 3 0-10 Australian fixed interest 17 5-32 International fixed interest 7 0-20 Alternative investments 8 0-20 Cash and other 2 0-10 By Sector Allocation (as at 31/12/2009) Australian Equities 37.3% Global Equities 19.5% Australian Listed Property 4.4% Global Listed Property 3.1% Australian Fixed Interest 17.6% Global Fixed Interest 6.6% Alternative Assets 7.9% Cash & Other 3.6% 0% 5% 10% 15% 20% 25% 30% 35% 40% 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. In terms of Australian shares, our holding in Rio Tinto benefited from higher commodity prices and a stronger Aussie dollar while our commodities and fund of hedge fund strategies performed well within the alternative assets space. Within the international shares portfolio, our US, Japanese and UK strategies all underperformed during the quarter. 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 No. 2 Limited ABN 22 000 727 659, AFSL 233720 is the issuer of units in, the BT Active Balanced 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).