Investment managers

Who manages your super?

The Trustee employs the services of a number of consultants and investment managers to assist in managing your
super. The table shows the investment managers as at 30 June 2011.

Asset class
Manager
% of total funds
under management
Australian equities
Balanced Equity Management Pty Limited
BT Investment Management (RE) Limited
Colonial First State Asset Management (Australia) Ltd
FSS Trustee Corporation*
Macquarie Investment Management Limited
Northcape Capital Pty Ltd
Vanguard Investments Australia Limited 
6.3
2.5
3.9
1.0
5.2
4.2
5.8

 
28.9
Australian socially responsible equities
AMP Capital Investors Limited 
0.3 
International equities
Baillie Gifford Overseas Ltd
Deutsche Asset Management (Australia) Limited
FSS Trustee Corporation*
Harding Loevner LP
Vanguard Investments Australia Limited 
4.8
3.8
1.1
3.8
11.7

 
25.2
Alternative assets
Macquarie Specialised Asset Management Limited
Vanguard Investments Australia Limited 
2.1
0.1

 
2.2
Listed and unlisted property trusts
Investa Properties Limited
Goodman Funds Management Australia Limited
GPT Funds Management Limited
Lend Lease Real Estate Investments Limited
St Hilliers Funds Management Limited
Vanguard Investments Australia Limited 
0.3
0.5
2.1
0.3
0.1
1.5

 
4.8
International fixed interest
Vanguard Investments Australia Limited
0.8
Australian fixed interest
UBS Global Asset Management (Australia) Ltd
Vanguard Investments Australia Limited 
2.7
13.8

 
16.5
Cash
Vanguard Investments Australia Limited 
21.3

 
Total
 
100.0

 

* Note: The FSS Trustee investment team performs a cash flow and portfolio re-balancing function for the pre-mixed
investment options using distribution accounts in the Australian equities and international equities asset sectors.

Asset consultant

An asset consultant, currently JANA Investment Advisers Pty Limited, advises on appropriate asset allocation for each
of the investment strategies and provides research on managers in each of the asset sectors, including an
evaluation of the manager’s investment style and its suitability to complement other current and potential managers.
Another asset consultant, currently Towers Watson, advises on the Alternatives asset class.

Custodian

A master custodian, currently JP Morgan Chase Bank, has been appointed to hold the Fund’s assets. Generally, the
custodian values the Fund’s investments on each business day, and monitors each investment manager’s daily activity.