• AustChoice Super
• Bendigo Financial Solutions
• Financial Partnership Portfolio Service
• IOOF Portfolio Service
• IOOF LifeTrack
• IOOF Pursuit Focus
• IOOF Pursuit Select
• IOOF Pursuit Core
• IOOF Personal Super
• IOOF Pension
• IOOF Employer Super (including
sub-plans: Bendigo and Adelaide
Bank Sta Superannuation Plan,
Pitcher Partners Superannuation
Fund and Medical & Associated
Professions Superannuation Fund)
IOOF Investment Management Limited | ABN 53 006 695 021 | AFS Licence No. 230524
PORTFOLIO SERVICE
IOOF
Superannuation Fund
Trustee’s annual report to members as at 30 June 2018
2
Contents
Message from the Trustee 3
Government reforms in superannuation 4
Changes to the IOOF Portfolio Service
Superannuation Fund 10
Changes to the Trust Deed 10
Changes to the product range 10
Changes to investment options 23
Investment managers 28
General information 33
Trustee’s investment objectives and strategy 37
Abridged nancial statements 38
Important information
This report is issued by IOOF Investment Management Limited (IIML) ABN 53 006 695 021 AFS Licence No. 230524 as
Trustee of IOOF Portfolio Service Superannuation Fund ABN 70 815 369 818 (Fund).
The information in this report is general information only and does not take into account your nancial circumstances,
needs and objectives. Before making any decision based on this report, you should assess your own circumstances
or seek advice from a nancial adviser. You should obtain and consider a copy of the Product Disclosure Statement
available from us or your nancial adviser before you acquire a nancial product. The information is given in good faith
and is believed to be accurate and reliable at the time of publication. IIML provides no assurance that the Fund will
continue to be available in the future.
3
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
I am pleased to present the Trustee’s annual report to
members in the IOOF Portfolio Service Superannuation Fund
(Fund) for the year ended 30 June 2018. This report has been
prepared by IOOF Investment Management Limited as Trustee
of the Fund (‘IIML’ or ‘Trustee’).
At IOOF, we have been helping Australians secure their
nancial independence for over 170 years and have grown
to become a leading provider of quality nancial advice,
products and services.
Today, IOOF is one of the largest nancial services group in
Australia. We are an ASX top 100 company with $161.7 billion
in funds under management, administration, advice and
supervision, and we currently provide services to more than
500,000 customers around Australia*.
As we grow, one thing that won’t change is our commitment
to help you secure your nancial independence.
In this report you will nd general information about the Fund,
including abridged nancial statements, changes to the Fund
and developments in super that have occurred during the
2017/18 nancial year.
Thank you for your ongoing support.
Yours sincerely
Renato Mota
Group General Manager – Wealth Management
IOOF Investment Management Limited
as Trustee of the IOOF Portfolio Service Superannuation Fund
Message from the Trustee
* As at 30 June 2018
4
Government reforms in
superannuation
Changes and developments in superannuation
1. New independent dispute resolution scheme for super members
The Australian Financial Complaints Authority (AFCA) commenced on 1 November 2018.
The new authority is an independent external dispute resolution scheme that replaces the
Superannuation Complaints Tribunal (SCT), the Financial Ombudsman Service (FOS) and the
Credit and Investments Ombudsman (CIO). The SCT will continue to deal with cases already
before it, however any new disputes will be dealt with by the AFCA.
2. First Home Super Saver Scheme
Super fund members can make a request to withdraw voluntary contributions (personal
contributions and salary sacrice contributions) made since 1 July 2017 to help purchase
a rst home. Voluntary contributions of up to $15,000 a year or $30,000 in total plus ATO
calculated earnings can be withdrawn. Only 85% of voluntary concessional contributions
are able to be accessed.
Members must apply to the ATO to release an amount under this scheme. Members who
intend to claim a tax deduction for personal super contributions should ensure the super fund
has received a section 290-170 Tax Deduction Notice before applying to the ATO for
a withdrawal under the scheme.
3. Downsizer contributions
Members and spouses aged 65 or more can contribute up to $300,000 each of the proceeds
of the sale of their main residence, where the sale occurs after 1 July 2018. The contributions are
not counted under the non-concessional contributions cap and no maximum age or work test
applies. To make downsizer contributions, the individual or their spouse must have owned the
property for at least 10 years and made the contribution within 90 days of settlement. Downsizer
contributions can only be made in respect of one main residence and must be accompanied by
a completed Downsizer contribution into superannuation form (NAT 75073-06.2018).
5
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
4. Carry forward of unused concessional contributions cap
Members who do not use their full concessional contributions cap in the 2018/2019 or later
tax years, can carry forward that excess and use it in a future year for up to ve further tax
years where their total super balance is less than $500,000. Therefore if you do not use your
full $25,000 cap in 2018/19, you may be able to contribute more concessional contributions in
2019/20 (or later).
5. Transfer of compassionate ground releases to ATO
Responsibility for assessing whether to release benets from a super fund under
compassionate grounds has been transferred from the Department of Human Services to
the ATO. Compassionate grounds include releases to pay medical; disability, palliative care
expenses for you or your dependant; funeral expenses for a dependant; and housing expenses
to avoid losing your home.
6. Release authorities from the ATO
The ATO has streamlined how it processes release authorities for excess concessional and
non-concessional contributions, and Division 293 tax
1
. For all releases, the ATO will issue a
determination to the member who has 60 days to respond to the ATO nominating the fund
to release the amount. The ATO collects the released amount from the nominated super fund;
deducts any outstanding tax and then refunds the net amount to the member.
7. Direct reporting of income streams to Centrelink
IOOF has commenced reporting income stream information directly to the Department
of Human Services for the Centrelink income stream reviews. The rst report provided
annual information for account pensions (including retirement-phase pensions, transition to
retirement pensions, and term allocated pensions) for the August 2018 income stream reviews.
For complying lifetime or life expectancy income streams the rst report is due in April 2019.
IOOF will no longer send out paper-based Centrelink schedules to members, other than on
commencement of the pension or if a change is made to your pension during the year. If you
require an ad hoc schedule you can also download one from Portfolio Online or IOOF Online.
1 Division 293 is an extra 15% tax on concessional contributions for those on higher incomes of $250,000 or more.
6
8. Ongoing reporting of super contributions to ATO starts.
Under new reporting requirements, IOOF will report to the ATO all super contributions as
they are received, rather than on an annual basis after the end of the nancial year. IOOF
will provide the ATO with the last annual Member Contribution Statement for 2017/2018 in
October 2018, and will start reporting new contributions as they are received from 1 July 2018.
IOOF reports the amount and type of contribution as it is received; the employer details (if the
contributions were made by the employer); and details of any section 290-170 Tax Deduction
Notices
2
received for personal contributions. The ATO will upload information it receives onto
an individual’s ATO account with myGov as soon as practicable.
9. Single Touch Payroll commences
Starting 1 July 2018 employers of 20 or more employees are required to report payments
made to employees, any PAYG withholding; and year to date superannuation liability (or
the employee’s ordinary time earnings) to the ATO on an ongoing basis. The Government
has announced Single Touch Payroll will be extended to smaller employers from 1 July 2019
(although this has not passed into law yet).
Information received from the employer is uploaded onto the employee’s ATO account with
myGov, and can be matched with contribution information received from the super fund to
check if super guarantee contributions are correct.
10. Self-managed super funds rollovers
The superstream rules for rollovers will be extended to self-managed super funds. Although
the regulations have already commenced, the start date is 30 November 2019.
2 Also called Notice of Intent to Claim a Tax Deduction.
7
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Superannuation thresholds for 2018/19
Concessional contributions
cap
$25,000 (no change from 2017/18)
Non-concessional
contributions (NCC) cap
$100,000; or
$300,000 over 3 years if under age 65 and less than $1.4 million
in super and pension on 30 June 2018; or
$200,000 over 2 years if under age 65 with between $1.4 million
and $1.5 million in super and pension on 30 June 2018.
$0 with $1.6 million or more in super or pension on 30 June 2018.
Superannuation guarantee
(SG) rate
9.5%
SG maximum contributions
base
$54,030 ordinary time earnings per quarter or $216,120 pa
(up from $52,760 per quarter 2017/18)
Preservation age
• Benets can be accessed
on retirement
• 0% tax on low rate
threshold (below)
Age 57
Age 58 if born from 1 July 1962 to 30 June 1963
Age 59 if born from 1 July 1963 to 30 June 1964
Age 60 if born from 1 July 1964
Low rate threshold
• 0% tax under age 60 for
cash lump sums
$205,000 (up from $200,000 for 2017/18)
CGT cap amount
• excluded from NCC cap
$1,480,000 (up from $1,455,000 for 2017/18)
Government
co-contribution income
Full co-contribution – $37,697 pa or less
(up from $36,813 pa 2017/18)
No co-contribution – $52,697 pa or more
(up from $51,813 pa 2017/18)
Spouse contributions tax
oset
Maximum of $540 if annual spouse income less than $37,000.
Oset ceases at $40,000.
Departing Australia Super
Payment tax rate
35% on taxable component (65% for working holiday makers)
Centrelink Age Pension age Age 65 and 6 months.
Age pension age increases by 6 months every 18 months from
1 July 2017 until it reaches age 67 by 1 July 2023.
8
Super changes proposed by the Government
The Government has announced a number of changes that have been tabled into Parliament
but have not yet passed into law.
Superannuation guarantee changes
These include:
• Excluding salary sacrice contributions from super guarantee contributions.
• Extending choice of super fund to employees employed under enterprise agreements
and workplace determinations.
• Giving the ATO greater powers to direct employers to make super guarantee contributions
and undergo education courses if the employer fails to meet their obligations. ATO will also
be able to inform members if their employer has not paid super guarantee contributions.
• Providing employers with a one year amnesty to catch up on outstanding super guarantee
contributions and earnings without tax penalties.
• Allowing employees with multiple employers to opt out of superannuation guarantee
contributions in respect of income over the SG maximum contributions base.
These changes are set out in the Treasury Laws Amendment (2018 Superannuation Measures
No 1) Bill and Treasury laws Amendment (Improving Accountability and Member Outcomes in
Superannuation Measures No 2) 2017 Bill.
9
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Protecting your super package – Budget 2018 announcements
to start 1 July 2019
These changes include:
• Exit fees on super will be abolished.
• Administration fees and investment fees on accounts that have less than $6,000 on 30 June
will be capped at 3% for that year.
• Inactive accounts with no insurance and less than $6,000 will be paid to the ATO. The ATO
will then transfer this amount to the individual’s active super account. An account is inactive
if it has not received a contribution or rollover within the previous 13 months. Inactive low
balances will be measured on 30 June and 31 December each year, starting 30 June 2019.
• Default insurance will not be available to new super accounts from 1 July 2019 if the
member is under age 25 (unless the member chooses to opt-in to the insurance).
• Default insurance cannot be provided to accounts that have an account balance of less
than $6,000 from 1 April 2019 (unless the member chooses to opt-in to the insurance).
Once an account reaches $6,000 default insurance will apply, and will continue even if the
account drops below $6,000 at a later date.
• Insurance (both default and personal insurance) ceases if an account becomes inactive
(ie 13 months of inactivity), unless the member actively chooses to continue cover.
The 13 month inactive period may include the period before 1 July 2019.
These changes are set out in the Treasury Laws Amendment (Protecting Your Superannuation
Package) Bill 2018.
10
Changes to the IOOF Portfolio
Service Superannuation Fund
Changes to the Trust Deed
The Trust Deed for the Fund was amended on 16 April 2018 with eect from 20 April 2018 to
change the name of the ‘IOOF Employer Super’ division’ to ‘IOOF Super and Pension’.
A copy of the current Trust Deed is available to members online at https://www.ioof.com.au/
about-us/about-ioof/trustee-disclosures/ioof, upon request by calling our Client Services Team
or may be inspected by arrangement during business hours at the oce of the Trustee.
Changes to the product range
Product disclosure statements
IIML issued PDSs for:
IOOF Pursuit
21 February 2018
• IOOF Pursuit Focus Investment Service IDPS Guide
1 July 2018
• IOOF Pursuit Focus Personal Superannuation
• IOOF Pursuit Focus Allocated Pension
• IOOF Pursuit Focus Investment Service IDPS Guide
• IOOF Pursuit Select Personal Superannuation
• IOOF Pursuit Select Allocated Pension
• IOOF Pursuit Select Term Allocated Pension
• IOOF Pursuit Select Investment Service IDPS Guide
11
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
IIML issued guides for:
IOOF Pursuit insurance guide (PIN.03)
1 July 2018
• IOOF Pursuit Focus Personal Superannuation
• IOOF Pursuit Select Personal Superannuation
IOOF insurance guide
1 July 2018
• IOOF Portfolio Service Personal Superannuation
• IOOF LifeTrack Personal Superannuation
• Financial Partnership Portfolio Service Personal Superannuation
• Bendigo Financial Solutions Personal Superannuation
IOOF Pursuit investment guide
21 February 2018
• IOOF Pursuit Focus Investment Service investment guide (PFI.02)
1 July 2018
• IOOF Pursuit Select investment guide (PSS.02)
– IOOF Pursuit Select Personal Superannuation
– IOOF Pursuit Select Allocated Pension
– IOOF Pursuit Select Term Allocated Pension
• IOOF Pursuit Focus investment guide (PFS.02)
– IOOF Pursuit Focus Personal Superannuation
– IOOF Pursuit Focus Allocated Pension
• IOOF Pursuit Focus Investment Service investment guide (PFI.02)
• IOOF Pursuit Select Investment Service investment guide (PSI.02)
12
IOOF Pursuit general reference guide
1 July 2018
• IOOF Pursuit Select Personal Superannuation general reference guide (PSS.01)
• IOOF Pursuit Focus Personal Superannuation general reference guide (PFS.01)
• IOOF Pursuit pension general reference guide (PSP.01):
– IOOF Pursuit Select Allocated Pension
– IOOF Pursuit Select Term Allocated Pension
– IOOF Pursuit Focus Allocated Pension
IIML issued forms booklets for:
IOOF Pursuit
14 February 2018
• IOOF Pursuit Focus Personal Superannuation
• IOOF Pursuit Focus Allocated Pension
• IOOF Pursuit Focus Investment Service
• IOOF Pursuit Select Personal Superannuation
• IOOF Pursuit Select Allocated Pension
• IOOF Pursuit Select Term Allocated Pension
• IOOF Pursuit Select Term Investment Service
1 July 2018
• IOOF Pursuit Focus Personal Superannuation
• IOOF Pursuit Focus Allocated Pension
• IOOF Pursuit Focus Investment Service
• IOOF Pursuit Select Personal Superannuation
• IOOF Pursuit Select Allocated Pension
• IOOF Pursuit Select Term Allocated Pension
• IOOF Pursuit Select Term Investment Service
13
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Product disclosure statements
IIML issued PDSs for:
IOOF Employer Super (including sub-plans), IOOF Personal Super
and IOOF Pension
20 April 2018
• IOOF Employer Super
• IOOF Personal Super
• IOOF Pension
1 July 2018
• IOOF Employer Super
• IOOF Personal Super
• IOOF Pension
• Bendigo and Adelaide Bank Sta Superannuation Plan – Employer and Personal Super
• Bendigo and Adelaide Bank Sta Superannuation Plan – Pension
• Medical & Associated Professions Superannuation Fund – Employer and Personal
Superannuation
• Medical & Associated Professions Superannuation Fund – Pension
• Pitcher Partners Superannuation Fund – Employer and Personal Superannuation
• Pitcher Partners Superannuation Fund – Pension
AustChoice Super
1 July 2018
• AustChoice Super – Pension
14
IIML issued guides for:
IOOF Employer Super (including sub-plans), IOOF Personal Super
and IOOF Pension general reference guides
20 April 2018
• IOOF general reference guide (IOF.02)
– IOOF Employer Super
– IOOF Personal Super
– IOOF Pension
1 July 2018
• IOOF general reference guide (IOF.02)
– IOOF Employer Super
– IOOF Personal Super
– IOOF Pension
• Bendigo and Adelaide Bank Sta Superannuation Plan (BASSP) general reference guide
(SSB.13)
– Bendigo and Adelaide Bank Sta Superannuation Plan – Employer and Personal Super
– Bendigo and Adelaide Bank Sta Superannuation Plan – Pension
• Medical & Associated Professions Superannuation Fund general reference guide (MAP.02)
– Medical & Associated Professions Superannuation Fund – Employer and Personal
Superannuation
– Medical & Associated Professions Superannuation Fund – Pension
• Pitcher Partners Superannuation Fund general reference guide (PPS.02)
– Pitcher Partners Superannuation Fund – Employer and Personal Superannuation
– Pitcher Partners Superannuation Fund – Pension
15
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
IOOF Employer Super (including sub-plans), IOOF Personal Super
and IOOF Pension investment guides
20 April 2018
• IOOF investment guide (IOF.01)
– IOOF Employer Super
– IOOF Personal Super
– IOOF Pension
1 July 2018
• IOOF investment guide (IOF.01)
– IOOF Employer Super
– IOOF Personal Super
– IOOF Pension
• Bendigo and Adelaide Bank Sta Superannuation Plan investment guide (SSB.11)
– Bendigo and Adelaide Bank Sta Superannuation Plan – Employer and Personal Super
– Bendigo and Adelaide Bank Sta Superannuation Plan – Pension
• Medical & Associated Professions Superannuation Fund investment guide (MAP.01)
– Medical & Associated Professions Superannuation Fund – Employer and Personal
Superannuation
– Medical & Associated Professions Superannuation Fund – Pension
• Pitcher Partners Superannuation Fund investment guide (PPS.01)
– Pitcher Partners Superannuation Fund – Employer and Personal Superannuation
– Pitcher Partners Superannuation Fund – Pension
16
IOOF Employer Super (including sub-plans) and IOOF Personal
Super insurance guides
20 April 2018
• IOOF insurance guide (IOF.03)
– IOOF Employer Super
– IOOF Personal Super
1 July 2018
• IOOF insurance guide (IOF.03)
– IOOF Employer Super
– IOOF Personal Super
• Bendigo and Adelaide Bank Sta Superannuation Plan (BASSP) insurance guide (SSB.18)
– Employer and Personal Super
• Medical & Associated Professions Superannuation Fund insurance guide (MAP.03)
– Employer and Personal Superannuation
• Pitcher Partners Superannuation Fund insurance guide (PPS.03) – Employer and Personal
Superannuation
AustChoice Super
• AustChoice Super general reference guide (ACH.02)
• AustChoice Super investment guide (ACH.01)
• AustChoice Super insurance booklet
17
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
IIML issued forms booklets for:
IOOF Employer Super (including sub-plans), IOOF Personal Super
and IOOF Pension
20 April 2018
• IOOF Employer Super
• IOOF Personal Super
• IOOF Pension
1 July 2018
• IOOF Employer Super
• IOOF Personal Super
• IOOF Pension
• Bendigo and Adelaide Bank Sta Superannuation Plan – Employer Division
• Bendigo and Adelaide Bank Sta Superannuation Plan – Pension
• Medical & Associated Professions Superannuation Fund – Personal Superannuation
and Pension
• Pitcher Partners Superannuation Fund – Employer Division, Personal Superannuation
and Pension
AustChoice Super
• AustChoice Super – Pension
18
Product updates
14 February 2018
Non-lapsing binding nominations
Non-lapsing binding death benet nomination is now available on all IOOF Pursuit superannuation
and pension products. Unlike a binding nomination, a non-lapsing binding nomination does not
expire after three years. To ensure compliance with superannuation law, the IOOF Portfolio Service
Superannuation Fund Trust Deed requires IOOF Investment Management Limited (the Trustee)
consent to each member’s non-lapsing binding nomination. This consent will be provided where
the dependency is ongoing or permanent (e.g. spouse), however in other circumstances the
Trustee may request further details from you about the nominated dependant before consenting.
14 February 2018
Indexation of advice fees
Indexation of advice fees is now available on all IOOF Pursuit products. The indexation option
can be applied to the existing at dollar Member Advice Fee – Ongoing and Member Advice
Fee – Licensee. You can choose to automatically index the above mentioned at dollar advice
fees by the Consumer Price Index (CPI) or a xed percentage (up to a maximum of 10 per cent)
on a specic date each year.
14 February 2018
Additional pension payment date
A second pension payment date option of the 14th day of the month has been introduced for all
IOOF Pursuit products. This is in addition to the current payment date which is the 28th day of the
month. You can now choose to receive monthly, quarterly, half-yearly or annual pension payments
to be paid by the 14th or the 28th day of the month. Note that this change does not impact
twice-monthly pension payments which are already paid by the 14th and 28th day of the month.
19
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
2 April 2018
New term deposit provider added
ANZ Bank has been added as a term deposit provider to the following products:
• IOOF Pursuit Select
• IOOF Pursuit Core
• IOOF Portfolio Service
• IOOF LifeTrack
• IOOF Employer Super (including sub-plans)
• IOOF Personal Super
• IOOF Pension
• AustChoice
Interest rates and terms are available on our website.
20 April 2018
Changes to MySuper members
A MySuper member who becomes a Choice member can now retain all or part of their
holdings in IOOF Balanced Investor Trust. Becoming a Choice member allows clients to expand
their investment options.
MySuper members are no longer required to retain a 1% minimum cash holding and 100%
of their deposits and any income earned will be invested in the IOOF Balanced Investor Trust.
These changes impact the following products:
• IOOF Employer Super (including sub-plans)
• IOOF Personal Super
• AustChoice
20
20 April 2018
Member Fee renamed
The Member Fee has been renamed to Account Keeping Fee on statements, transactions and
reports for the following products:
• IOOF Employer Super (including sub-plans)
• IOOF Personal Super
• IOOF Pension
• AustChoice
20 April 2018
Retail insurance added to IOOF Personal Super
Members of IOOF Personal Super now have access to retail insurance through the following
partners:
• TAL
• AIA
• Zurich
Retail insurance is only available through a nancial adviser and is not available for MySuper
members.
21
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
20 April 2018
Change to fees for IOOF Employer Super, IOOF Personal Super
and IOOF Pension
We have introduced an updated fee structure with dierentiated Administration Fees and
Account Keeping Fees for the new high quality, low cost Core Investment Menu and extensive
Full Investment Menu.
Account balance Core Investment Menu (pa) Full Investment Menu (pa)
First $250,000 0.35% 0.70%
Next $250,000 0.25% 0.50%
Next $500,000 0.10% 0.20%
Next $1 million 0.05% 0.10%
Amounts above $2 million Nil Nil
Account Keeping Fee $117 $180
20 April 2018
Family Fee Aggregation now available in IOOF Personal Super
and IOOF Pension
Family Fee Aggregation is now available to all members in IOOF Personal Super (Choice
members) and IOOF Pension.
Members can link up to six individual and family accounts across these products to take
advantage of the consolidated balances to reduce their Administration Fees. The fee benet will
be applied proportionally across the accounts.
You can link with members of the same immediate family (husband, wife, partner, son, daughter,
father, mother, brother, sister, grandparent or grandchild) and in-laws of the immediate family.
22
1 July 2018
Changes to Fee Aggregation
There have been changes to the terms and conditions of Fee Aggregation for the following
products:
• IOOF Pursuit Select Personal Superannuation
• IOOF Pursuit Select Allocated Pension
• IOOF Pursuit Select Term Allocated Pension
• IOOF Pursuit Select Investment Service.
The updated terms and conditions of Fee Aggregation are:
• The immediate family denition was expanded to include grandparent/grandchild
relationship and in-laws as follows.
– Each person applying to link for the purpose of Fee Aggregation must be a member
of the same immediate family (husband, wife, partner, son, daughter, father, mother,
brother, sister, grandparent or grandchild) and in-laws of the immediate family. It also
includes multiple accounts for the same person. Please note that there can only be one
immediate family group in any Fee Aggregation arrangement.
• The maximum number of accounts in a Fee Aggregation group has been increased from
4 to 6 as follows:
A maximum of six accounts are allowed to be linked together for Fee Aggregation purposes.
1 July 2018
Change to the Indirect Cost Ratio (ICR) for the Cash Account
The estimated Indirect Cost Ratio (ICR) for the Cash Account has changed from 0.24% pa to
approximately 0.80% pa from 1 July 2018.
These changes impact the following products:
• IOOF Employer Super (including sub-plans)
• IOOF Personal Super
• IOOF Pension
23
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
1 July 2018
Changes to terms and conditions of insurance
There have been changes to the terms and conditions of group insurance for the following
products:
• IOOF Employer Super (including sub-plans)
• IOOF Personal Super
• IOOF Pursuit Select Personal Superannuation
• IOOF Pursuit Focus Personal Superannuation
• IOOF Pursuit Core Personal Superannuation
• IOOF Portfolio Service Personal Superannuation
• IOOF LifeTrack Personal Superannuation
• Financial Partnership Portfolio Service Personal Superannuation
• Bendigo Financial Solutions Personal Superannuation
• AustChoice Super
TAL Life Limited have rened the denitions for total and permanent disability (TPD) and
income protection (IP), to include rehabilitation and work modications that help people
return to their previous lifestyle. There is also clarication around the denition of earned
income, benet osets, and other payments.
Changes to investment options
As Trustee, we regularly monitor the investment options available to members in the Fund.
This section outlines the underlying investment options that have been added and removed
from the Fund’s investment menus during 2017/18. Any investment option currently available
may not continue to be available in the future. If we remove an investment option from the
Fund, we may transfer your investments in the investment option that is no longer available to
another investment option of the Fund. We will attempt to notify you before this action is taken.
We make no recommendation regarding the investment options set out below and not all
investment options are available for all products. If you require further information about
investment options available through each product, please refer to the PDS of the investment
option and relevant product, and speak to your nancial adviser or our Client Services Team.
24
New investment options
APIR code Investment option name
LAZ0003AU Lazard Emerging Markets Fund
SSB0009AU Legg Mason Martin Currie Select Opportunities Fund
ARO0006AU C Worldwide Global Equity Trust
LAZ0003AU Lazard Emerging Markets Fund
BFL0002AU Bennelong Concentrated Australian Equities Fund
BFL0008AU Bennelong Avoca Emerging Leaders Fund
IML0010AU IML Concentrated Australian Share Fund
AUG0027AU Australian Ethical Emerging Companies Fund
AUG0018AU Australian Ethical Australian Shares Fund
COL0001AU Folkestone Maxim A-REIT Securities Fund
DFA0041AU Dimensional Global Sustainability Trust (Unhedged)
DFA0042AU Dimensional Global Sustainability Trust (Hedged)
FSF1295AU Stewart Investors Worldwide Sustainability Fund
FSF1675AU Stewart Investors Worldwide Sustainability Fund – Class A
SSB4946AU Legg Mason Martin Currie Ethical Income Fund
AAP0008AU Ausbil 130/30 Focus Fund
STL0044AU Sandhurst Strategic Income Fund
PLA0003AU Platinum Japan Fund
FID0014AU Fidelity Hedged Global Equity Fund
ETL0415AU Robeco BP Global Premium Equities Fund
PCL0022AU Pengana Global Small Companies Fund
ETL0419AU Pan-Tribal Global Equity Fund
ETL0463AU Orbis Global Equity Fund
WHT0057AU Antipodes Global Fund
MAQ0838AU Polaris Global Equity Fund
VAN9309AU Vanguard Global Aggregate Bond Index Fund (Hedged)
MAQ0410AU Walter Scott Global Equity Fund
25
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
APIR code Investment option name
ETL0032AU Aberdeen Emerging Opportunities Fund
ETL0419AU Pan-Tribal Global Equity Fund
SLT2171AU Nanuk New World Fund
HGI0004AU Janus Henderson Global Fixed Interest Total Return Fund
AUG0017AU Australian Ethical Balanced Fund (Wholesale)
INT0042AU Morningstar High Growth Real Return Fund
PER0556AU Perpetual Wholesale Diversied Real Return Fund
WHT0015AU Resolution Capital Global Property Securities Fund
AMP0974AU AMP Capital Global Property Securities Fund – Class A Units
PER0758AU JPMorgan Global Macro Opportunities Fund
LTC0002AU La Trobe Australian Credit Fund – 12 Month Term Account
MUA0002AU Munro Global Growth Fund
ETL0171AU AXA IM Sustainable Equity Fund
26
Removed investment options
APIR Code Investment option name
HHA0002AU Hunter Hall Global Equities Trust
SSB0029AU Legg Mason Martin Currie Small Companies Trust – Class I Units
ACU0008AU Property Income Plus Fund
MMF0700AU OnePath Tax Eective Income Trust – Wholesale Units
MAQ0063AU Macquarie Master Property Securities Fund
WHT0014AU Resolution Core-Plus Property Securities fund
LEF0044AU Optimix Wholesale Balanced Trust – Class A Units
IOF0227AU Janus Henderson Absolute Return Australian Equity Fund
PLA0100AU Platinum International Brands Fund
SBC0822AU UBS International Share Fund
MAQ0046AU Macquarie Australian Enhanced Equities Fund
MLT0001AU Challenger Guaranteed Income Fund – 5.30 cents pa 30 September 2017 (MV$1)
MLT0005AU Challenger Guaranteed Income Fund – 4.55 cents pa 30 September 2017 (MVS1)
FSF0908AU Generation Wholesale Global Share Fund
SBC0822AU UBS International Share Fund
MGL0019AU Ironbark Copper Rock Emerging Markets Opportunities Fund
MAQ0454AU Macquarie Australian Small Companies Fund
MAQ0443AU Macquarie High Conviction Fund
MIN0043AU Mercer Moderate Growth Fund
MIN0042AU Mercer High Growth Fund
MIN0041AU Mercer Growth Fund
MIN0040AU Mercer Concervative Fund
MIN0039AU Mercer Australian Shares Fund
MIN0044AU Mercer Shares Fund
INT0080AU Morningstar International Bonds (Hedged) Fund
IOF0200AU Perennial Value Australian Shares Trust
PMC0003AU Zurich Investments Global Equity Income Fund
27
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
APIR Code Investment option name
PER0072AU Perpetual Wholesale Share-Plus Long-Short Fund
AUG0001AU Australian Ethical Balanced Fund (Retail)
AMR0006AU Regal Australian Long Short Equity Fund
BTA0428AU Pendal Balanced Equity Income Fund
AR O 0 011AU Arnhem Australian Equity Fund
ZUR0583AU Zurich Investments Small Companies Fund
Listed share options
The majority of listed securities forming part of the ASX 300 Index are available as listed share
options.
28
Investment managers
The following investment management companies manage the assets of the investment
options within the Fund as at 30 June 2018:
Aberdeen Asset Management Limited
Acadian Asset Management (Australia) Limited
Acorn Capital Limited
Adelaide Bank Limited
Allan Gray Australia Pty Ltd
AllianceBernstein Australia Limited
Alpha Fund Managers Pty Ltd
Alphinity Investment Management Pty Limited
Altius Asset Management Pty Ltd
American Century Investments
AMP Capital Investors Limited
Antares Capital Partners Ltd
Antipodes Partners Limited
APN Funds Management Limited
AQR Capital Management, LLC
Arrowstreet Capital, L.P.
Aspect Capital Limited
Ausbil Investment Management Limited
Australian Ethical Investment Ltd
Australian Unity Investments
AXA Australia
Bennelong Australian Equity Partners
Bentham Asset Management Pty Limited
BlackRock Investment Management (Australia) Limited
BNP Paribas Investment Partners (Australia) Limited
29
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Brandywine Global Investment Management
BT Investment Management (Institutional) Limited
Candriam Sustainable Global Equity Fund
Capital International, Inc
Celeste Funds Management Limited
Challenger Managed Investments Limited
Charter Hall Direct Property Management Limited
Colonial First State Investments Limited
Delaware Investment Advisers
Deutsche Australia Limited
Eley Griths Group Pty Limited
Epoch Investment Partners, Inc
FIL Limited
Franklin Templeton Investments Australia Limited
Global Thematic Partners LLC
Goldman Sachs Asset Management Australia Pty Ltd
Greencape Capital Pty Ltd
Henderson Global Investors (Australia) Institutional Funds Management Limited
Hunter Hall Investment Management Limited
Hyperion Asset Management Limited
Independent Franchise Partners LLP
Integrity Investment Management Australia Limited
Invesco Australia Ltd
Investors Mutual Limited
IOOF Investment Management Limited
J O Hambro Capital Management Limited
JPMorgan Asset Management (Australia) Limited
Kapstream Capital Pty Ltd
La Trobe Financial Services Pty Limited
30
Lazard Asset Management LLC.
Lazard Asset Management Pacic Co
Legg Mason Asset Management Australia Limited
LM Investment Management Ltd
Macquarie Investment Management Global Limited
Magellan Asset Management Limited
Maple-Brown Abbott Limited
MAPP Pty Ltd
Merlon Capital Partners Pty Limited
MFS Investment Management
MLC Investments Limited
Monash Investors Pty Ltd
Morningstar Investment Management Australia Limited
Morphic Asset Management Pty Limited
Munro Partners
National Australia Bank Limited
Nikko AM Limited
Norwich Union Life Australia Limited
NovaPort Capital Pty Limited
OC Funds Management
OnePath Funds Management Limited
Orbis Investment Management Limited
Orion Asset Management Limited
Pan-Tribal Asset Management
Paradice Investment Management Pty Ltd
Payden & Rygel Global Limited
Pengana Capital Ltd
Perennial Investment Partners Limited
Perennial Value Management Limited
31
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Perpetual Investment Management Limited
PIMCO Australia Pty Limited
Platinum Asset Management
Plato Investment Management Limited
Platypus Asset Management Limited
Prime Value Asset Management Limited
Principal Global Investors (Australia) Limited
RARE Infrastructure Limited
RealindexInvestments Pty Limited
Resolution Capital Limited
Robeco Hong Kong Limited
Russell Investment Management Ltd
Sandhurst Trustees Limited
Schroder Investment Management Australia Limited
Schroder Investment Management Ltd
Schroder Investment Management Singapore Ltd
SG Hiscock & Company Limited
Smallco Investment Manager Limited
Solaris Investment Management Limited
Spheria Asset Management
State Street Global Advisors, Australia, Limited
T. Rowe Price Global Investments Limited
Tribeca Investment Management Limited
UBS Asset Management (Australia) Ltd
Value Partners Hong Kong Limited
van Eyk Research Limited
Vanguard Investments Australia Ltd
Ventura Investment Management Limited
Walter Scott & Partners Limited
Watermark Funds Management
32
Wavestone Capital
Wellington Management Company, LLP
Wells Capital Management Inc.
Western Asset Management Company Pty Ltd
Wingate Asset Management Pty Ltd
Winton Capital Management Limited
Zurich Investment Management Limited
33
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
General information
About the Trustee
IIML has met all of the necessary APRA requirements to operate as a Trustee of the Fund.
IIML also maintains its AFS Licence under the Corporations Act 2001.
We monitored our compliance with the relevant legislative requirements during 2017/18,
and conrm that the Fund:
• is a resident regulated superannuation fund within the meaning of the Superannuation
Industry (Supervision) Act 1993
• has not received a notice of noncompliance from APRA
• has not received a notice from APRA directing the Fund not to accept any contributions
by an employer
• is able to accept SG contributions from employers
• complies with the minimum insurance cover requirements for Choice of Superannuation
funds as set out in the Superannuation Guarantee (Administration) Regulations 1993
The Trustee has eected and maintains in force professional indemnity insurance to protect
the interests of members.
Directors of the Trustee
Mr George Venardos (Chairman until 13 September 2018)
Mr Christopher Francis Kelaher (resigned 1 September 2018)
Ms Elizabeth Flynn (reappointed 29 August 2017)
Mr Martin Walsh (Acting Chairman from 13 September 2018)
Ms Dawn Oldham (resigned 21 August 2018)
John Selak
34
Policy committees
This section applies to members of IOOF Employer Super, Medical & Associated Professions
Superannuation Fund, the Bendigo and Adelaide Bank Sta Superannuation Plan, Pitcher
Partners Superannuation Fund, and AustChoice Super only.
A policy committee may be established for an employer-sponsored fund. A policy
committee’s role is to provide an avenue for members and employers to make enquiries about
the investment strategies and performance of the employer-sponsored fund. The Trustee may
use the policy committee as a forum for providing information to members and employers
as well as to assist the Trustee to deal with complaints or enquiries about the employer-
sponsored fund’s operation or management.
The Trustee will take reasonable steps to set up a policy committee and to ensure that
equal numbers of employer and member representatives are on the committee. Detailed
information about how to establish a policy committee will be sent to all members from the
Trustee if they request this in writing. Details of policy committees, including members’ names
and how they were appointed and by whom, are provided to members upon joining the
employer-sponsored fund and every year within the member’s annual statement.
Eligible rollover fund
An eligible rollover fund (ERF) is a fund designed to accept super accounts from other funds,
where the Trustee of the other fund is unable to adequately provide for small account
holders. ERFs are designed to oer a stable investment environment in which members with
low account balances can have their funds invested with some protection from fees usually
applied to actively managed accounts.
We may roll over your benet to an ERF in the event that:
• you joined as a standard employer sponsored member more than two years ago and
we have not received any contributions or rollover amounts in the last ve years
• we have never had a correct address from you, or we have written two consecutive
communications to you and had them returned unclaimed – in such circumstances,
we will consider you to be a lost member
• you are a member of an employer plan and you leave that employer plan without
nominating another fund for your balance
• your account balance falls below $2,000
• you decide to seek the return of your initial investment (refer to ‘cooling o’ section in the
relevant PDS) and either:
– you do not notify us of a recipient fund for the receipt of your benets (if necessary)
35
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
– the nominated fund does not accept the transfer.
Once your benet is rolled into the ERF, you will no longer be a member of, nor entitled to
claim any benet from the Fund. Your insurance cover ceases and any remuneration payable
from your account to a nancial adviser will also cease.
The Trustee has selected the following ERFs for the Fund:
IOOF Employer Super (including sub-plans), IOOF Personal Super, IOOF Pension and AustChoice Super
SMF Eligible Rollover Fund (SMF ERF)
GPO Box 264
Melbourne VIC 3001
Phone: 1800 677 306
All other products within the Fund
The Australian Eligible Rollover Fund (AERF)
Jacques Martin Administration & Consulting
Locked Bag 5429
Parramatta NSW 2124
Phone: 1800 677 424
Being transferred to the SMF ERF or AERF may aect your super benets for the following
reasons:
• You will become a member of the relevant ERF and be subject to its governing rules.
• The relevant ERF will apply a dierent fee structure.
• Neither of the ERFs oer insurance benets in the event of death, total and permanent
disablement or temporary disablement.
• The SMF ERF invests your benet in a low to medium -risk strategy, which may aect
the rate of return credited to your account. You should evaluate whether this strategy
is appropriate for your specic circumstances.
• The AERF invests your benet in a single strategy with a balanced growth objective.
The objective is to achieve industry average ve year gross returns for balanced growth
fund managers. No investment choice is available.
Please note that the ERFs are subject to investment risk which means you may receive back
less than your original investment when withdrawn.
Before transferring your benets to an ERF, we attempt to communicate with you and provide
you with an option to nominate another fund. If you become a lost member, whether or not
your benet has been transferred to an ERF, you will be able to trace your benet through the
36
ATO online services by logging onto your myGov account; selecting the ATO linked service;
and then ‘Manage my super’. If you do not have a myGov account you can create it on http://
www.mygov.gov.au.
Complaints
If you have a complaint about your account (or wish to obtain further information about the
status of an existing complaint), please contact us on:
Free call: 1800 062 963
By writing:
Manager, Customer Care
IOOF Investment Management Limited
GPO Box 264
MELBOURNE VIC 3001
Where possible, concerns will be resolved straightaway.
If further investigation is required, our Customer Care team will acknowledge your complaint
in writing and will consider and respond to your complaint as quickly as possible. We are
required by law to respond to superannuation related complaints within 90 days.
If you are not satised with our handling of your complaint or a decision we have made
in relation to your complaint, you may contact the Australian Financial Complaints
Authority (AFCA), an external dispute resolution scheme, by calling 1800 931 678, emailing
[email protected].au or writing to AFCA, GPO Box 3, Melbourne VIC 3001.
This service is available free of charge to you, but can only hear your complaint after you have
rst made use of our internal complaints handling arrangements (as explained above).
37
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Trustee’s investment objective
and strategy
The Trustee provides members with an extensive choice of investment options to meet their
super and retirement planning needs. The investment options are intended to allow members
to make choices that match their individual circumstances, diversify their portfolio and match
their investment risk and return prole. It is recommended that you consult your nancial
adviser prior to selecting the investment options that you would like to invest in and the
investment strategy suitable to your objectives.
As part of our range of investment options, we oer specic ethical investments. As Trustee
of the Fund, we do not currently take into account labour standards, environmental, social or
ethical considerations when selecting, retaining or removing fund managers and managed
investments from the list of available investments. The investment guide available for each
product under the Fund contains detailed information about the range of investment
strategies, objectives, and options that you can select, depending on the product you invest
in. To obtain more information on the investment strategy and objectives for each product
and investment option, please refer to the PDS for the particular product and investment
option. It is recommended that you consult your nancial adviser prior to selecting the
product and investment options that you would like to invest in and the investment strategy
suitable to your objectives.
Important note
Information about the management costs including the indirect costs of each of the
investment options is contained in the relevant PDS, a copy of which can be obtained
by calling our Client Services Team, or from our relevant website. Current asset
allocations can be obtained at any time. A paper copy of updated information will be
provided free of charge on request.
Investment performance
Information regarding the performance of each investment option is available on our websites.
Please refer to the ‘Contact us’ section of this report on page 45 for details of our websites.
38
Abridgednancial statements
Set out below are the abridged nancial statements detailing the Fund’s nancial transactions
for the year ended 30 June 2018.
If you would like to obtain a copy of the full audited fund nancial statements and related
audit reports for the year (free of charge), please contact our Client Services Team or email us.
The auditor has issued an unmodied audit report in respect of the nancial statements.
39
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Extract of accounts for the year ended 30 June 2018 ($’000) 2017 ($’000)
Revenue
Investment income 2,190,331 2,109,112
Sundry income 78,582 90,531
Employer contributions 701,632 709,931
Member contributions 497, 40 0 800,948
Transfers from other funds 1,892,314 1,421,641
Total revenue 5,360,259 5,132,163
Expenses
Benets paid 2,737, 611 2, 837,70 4
Management fees 305,951 303,922
General administration expenses 4,482 4,389
Group life and income protection premiums 143,636 149,508
Superannuation contributions surcharge 3 (1)
Income tax expense 75,290 70,497
Total expenses 3,266,973 3,366,019
Increase in members’ funds 2,093,286 1,766,144
Balance brought forward 25,618,104 23,851,960
Net Assets available for Member Benets 27,711,390 25,618,104
Represented by
Assets
Investments 26,612,474 24,455,318
Cash and cash equivalents 266,268 246,584
Sundry debtors 963,886 1,052,617
Deferred tax asset - -
Total assets 27,842,628 25,754,519
Liabilities
Creditors and accruals 40,820 52,443
Income tax payable 45,807 57,770
Deferred tax liability 4 4, 611 26,202
Total liabilities 131,238 136,415
Member benets 27,589,760 25,506,230
Net assets 121,630 111, 874
40
Extract of accounts for the year ended 30 June 2018 ($’000) 2017 ($’000)
Equity
General reserve 54,816 53,943
Tax reserve - (7,915)
Operational risk nancial requirement reserve 60,622 60,120
Dened benet over/(under) funded 6,192 5,726
Total equity 121,630 111, 874
Reserves
Reserves represent timing dierences between net revenue and taxes in the operating
statement and amounts allocated to members’ accounts. These amounts may be allocated to
members in future years in a fair and equitable basis. Reserves are predominantly retained in
cash and cash equivalents.
The reserve levels for the past three years are as follows:
Reserves 2018($’000) 2017($’000) 2016($’000)
Opening balance 46,028 66,764 63,027
Transfer to/(from) reserves 8,788 (20,736) 3,737
Closing balance 54,816 46,028 66,764
ORFR
The ORFR has been established to meet the requirements of Prudential Standard SPS 114
– Operational Risk Financial Requirement. The prudential standard requires the Trustee to
maintain adequate nancial resources to address losses arising from operational risks that may
aect the Fund. Investment earnings generated by the ORFR are credited to the ORFR account.
The ORFR may be invested in:
• Cash and/or cash equivalents
• Unlisted unit cash trusts; and
• Term deposits.
41
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
As part of the Trustee’s regular review of the Fund’s investment strategy, the Product
Investment Committee and the Trustee will review and revise, as necessary, the investment
strategy of the ORFR.
ORFR Reserve 2018($’000) 2017($’000) 2016($’000)
Opening balance 60,120 59,045 31,098
Transfer to reserves 502 1,075 27,9 47
Closing balance 60,622 60,120 59,045
Should an operational risk event occur in the future, additional deductions against member’s
accounts may be required to restore the Operational Risk Financial Reserve (ORFR) back to the
target amount.
Concentration of assets of the Fund
As at 30 June 2018, the following underlying investments exceeded ve per cent of the total
assets of the Fund:
Investment
• IOOF MultiMix Balanced Growth Trust
• IOOF Balanced Investor Trust
The Trustee acknowledges that, as a result of the discretion which can be exercised by account
holders, individual accounts may have a greater than ve per cent exposure to a single
investment.
Further, the Trustee acknowledges that when considered in aggregate (across all managed
fund options in which the Trustee holds assets on behalf of members of the Fund), the Fund
may be construed as having a total exposure to a single shareholding (or to a composite
interest in the investment assets of a single issuer) and this exposure may exceed ve per cent
of the total value of Fund assets.
42
Indirect Management Costs applying to the Cash Account (not
applicable to AustChoice Super, IOOF Employer Super (including
sub-plans), IOOF Personal Super and IOOF Pension)
The Cash Account is invested in a combination of an operating bank account (for day-to-
day transactions) and in the IOOF Cash and Income Fund ARSN 087 727 277 and The Cash
Management Fund ARSN 089 508 636, for which we are the Responsible Entity.
Interest generated by these investments is reduced by bank fees and charges (applicable to
the operating bank account) and management costs charged by us, as the Responsible Entity
of the IOOF Cash and Income Fund and the Cash Management Fund, for managing the assets
of the Cash and Income Fund and the Cash Management Fund before it is credited to the Cash
Account.
As at 30 June 2018, the indirect management cost is shown below. This cost is indirectly borne
by members.
%
Bendigo Financial Solutions 0.60
Financial Partnership Portfolio Service 0.60
IOOF Portfolio Service 0.60
IOOF LifeTrack 0.57
IOOF Pursuit Focus 0.60
IOOF Pursuit Select 0.60
IOOF Pursuit Core 0.60
43
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Indirect Management Costs applying to the Cash Account (specic
to AustChoice Super, IOOF Employer Super (including sub-plans),
IOOF Personal Super and IOOF Pension)
The Cash Account is invested in a combination of an operating bank account (for day-to-day
transactions) and in the IOOF Cash Management Trust ARSN 105 788 501 for which we are the
Responsible Entity.
Interest generated by these investments is reduced by bank fees and charges (applicable to
the operating bank account) and management costs charged by us, as the Responsible Entity
of the IOOF Cash Management Trust, for managing the assets of the IOOF Cash Management
Trust before it is credited to the Cash Account.
As at 30 June 2018, the indirect management cost is shown below. This cost is indirectly borne
by members.
%
IOOF Employer Super, IOOF Personal Super and IOOF Pension 0.24
Medical & Associated Professions Superannuation Fund 0.24
Bendigo and Adelaide Bank Sta Superannuation Plan 0.24
Pitcher Partners Superannuation Fund 0.24
AustChoice Super 0.24
44
Derivative policy
Derivatives may be used in accordance with the investment strategy and objectives of the
Fund and at the investment option level in order to:
• to protect the investment from upward or downward movements in rates or prices
through hedging
• protect funds from the range of market risks
• change the overall asset allocation in a timely manner without exposure to the timing and
liquidity constraints or higher transaction costs associated with the physical market
• permit ongoing management of funds invested during periods of uncertainty where
liquidity is not available in the physical market
• minimisation of transaction costs associated with spread on physical market transactions
• facilitating switching between asset classes or as an alternative to physical investment.
Derivatives will not be used to gear funds, for speculative purposes or trading.
The investment managers of the underlying funds which members elect to invest in may use
derivatives such as options, futures, and swaps. The Trustee has controls and procedures in
place relating to the investment managers’ derivative use in order to ensure that it is suitable
to the Trustee’s and its members’ own investment strategies and objectives.
Allocation of earnings into members’ accounts
Earnings from a particular investment of the Fund will be allocated into the members’
accounts in proportion to the member’s interest in the investment.
45
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Contact us
Trustee
IOOF Investment Management Limited
ABN 53 006 695 021 | AFS Licence No. 230524
Registered address: Level 6 161 Collins Street, Melbourne VIC 3000
Postal address: GPO Box 264, Melbourne VIC 3001
Client Services Teams
AustChoice Super
Telephone: 1800 333 900
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 6215 5933
Email: info@austchoice.com.au
Website: www.austchoice.com.au
Bendigo Financial Solutions
Telephone: 1800 913 118
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: clientrst@ioof.com.au
Website: https://bendigo.portfolioonline.com.au
Financial Partnership Portfolio Service
Telephone: 1800 913 118
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: clientrst@ioof.com.au
Website: www.ioof.com.au
IOOF LifeTrack
Telephone: 1800 913 118
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: clientrst@ioof.com.au
Website: www.ioof.com.au
46
Flight Centre
Telephone: 1800 571 830
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: ightcen[email protected]om.au
Website: ightcentresuper.com.au
IOOF Portfolio Service
Telephone: 1800 913 118
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: clientrst@ioof.com.au
Website: www.ioof.com.au
IOOF Pursuit Select, IOOF Pursuit Focus and IOOF Pursuit Core
Telephone: 1800 913 118
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 8614 4431
Email: clientrst@ioof.com.au
Website: www.ioof.com.au
IOOF Employer Super, IOOF Personal Super and IOOF Pension
Telephone: 1800 333 500
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 6215 5933
Email: employersuper@ioof.com.au
Website: www.ioof.com.au
Medical and Associated Professions Superannuation Fund
Telephone: 1800 009 921
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 6215 5933
Email: employersuper@ioof.com.au
Website: www.mapsuper.com.au
47
IOOF Portfolio Service Superannuation Fund | Trustee’s annual report 2018
Pitcher Partners Superannuation Fund
Telephone: 1800 3222 8444
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 07 3221 7779
Email: info@pitcherpartners.com.au
Website: www.pitcherpartnersuper.com.au
Bendigo and Adelaide Bank Sta Superannuation Plan
Telephone: 1800 787 372
Postal Address: GPO Box 264, Melbourne VIC 3001
Fax: 03 6215 5933
Email: sta.super@bendigobank.com.au
Website: www.bendigostasuper.com.au
PLA-9828/1218
VIOOF6289