BHP Billiton Superannuation Fundsuperau.bhpbilliton.com/content/dam/plumbhp/documents/BHP... · BHP Billiton Superannuation Fund Investment Menu Preparation date 11 May 2016 Issued

BHP Billiton Superannuation FundInvestment Menu

Preparation date 11 May 2016

Issued by the Trustee PFS Nominees Pty Limited (Plum) ABN 16 082 026 480 AFSL 243357

The Fund BHP Billiton Superannuation Fund ABN 30 187 082 512

This menu gives you information about the investments available through BHP Billiton Superannuation Fund.

A financial adviser can help you decide which investment option is right for you.

Contents

The information in this Investment Menu forms part of the Product Disclosure Statement (PDS) dated 11 May 2016.

Together with the Insurance Guide and Fee Definitions Flyer, these documents should be considered before making a final decision to invest. They are available when you log in to superau.bhpbilliton.com

Investing with us 4

Things to consider before you invest 5

Choosing your path 13

Your investment options 14

Investing with us

We provide a broad range of investment options and you can choose any combination of these to really put your investment plan into action.

Our Investment Menu has been developed to suit all levels of investment knowledge and experience. You can customise your investment mix by choosing from a range of diversified or single-sector investment options with different management approaches.

JANAWe’ve appointed JANA Investment Advisers (JANA) to advise us on our Investment Menu. It is one of the leading investment consultants in Australia with over A$280 billion funds under advice and A$40 billion funds under management (at 31 December 2014). JANA, like Plum, is a wholly-owned subsidiary of National Australia Bank (NAB).

JANA employs experts in putting together portfolios for people. They structure portfolios to deliver more reliable returns in many potential market environments. And, as their view of world markets changes, they evolve the portfolios to manage new risks and capture new opportunities.

They have both internal investment management expertise, and the experience and resources to find some of the world’s best investment managers.

And they provide regular insight and updates on the performance of the investment options.

Selecting investment optionsOur Investment Menu is regularly reviewed by a committee of experienced JANA investment professionals.

A number of factors are taken into consideration when investment options are selected for the Investment Menu. These include the performance of the investment option, the investment objective, fees, external research ratings and how easy the investment option is to administer. The selection of investment options issued by the NAB Group is done on an arm’s-length basis in line with the Trustee’s Conflict of Interest Policy.

Investor Profile Tools

For greater insight into how your money is managed, including where your money is invested, how your investments are performing and the investment fees and costs charged, log in to superau.bhpbilliton.com

Even the simplest of investments come with a level of risk.

Things to consider before you invest

While the idea of investment risk can be confronting, it’s a normal part of investing. Without it you may not get the returns you need to reach your financial goals. This is known as the risk/return trade-off.

Many factors influence an investment’s value. These include, but aren’t limited to:

• market sentiment

• changes in inflation

• growth and contraction in the Australian and overseas economies

• changes in interest rates

• defaults on loans

• company specific issues

• liquidity (the ability to buy or sell investments when you want to)

• changes in the value of the Australian dollar, and

• changes in Australian laws and those of overseas jurisdictions.

VolatilityThe value of an investment with a higher level of risk will tend to rise and fall more often and by greater amounts. In other words, it’s likely to be more volatile than those with less risk.

As demonstrated in the following graphs, investments that have often produced higher returns over long periods can be volatile in the short term.

By understanding volatility will occur, you’ll be able to manage your expectations and resist reacting to these short-term movements.

This will help you stay true to your investment strategy, and keep on track to achieve your long-term goals.

Investments that have often produced higher returns over long periods ...

Returns above inflation over 20 year periods (1920–2014)

... can be volatile in the short term.

Returns above inflation over 1 year periods (1900–2014)

Source: Calculated by JANA using data provided by Global Financial Data, Inc. and Thomson Reuters Datastream.

Diversify to reduce volatility and other risksDiversification—investing in a range of investments—is a sound way to reduce short-term volatility and help smooth a portfolio’s returns. That’s because different types of investments perform well in different times and circumstances. When some are providing good returns, others may not be.

You can diversify across different asset classes, industries and countries as well as across investment managers with different approaches.

The more you diversify the less impact any one investment can have on your overall returns.

One of the most effective ways of reducing volatility is to diversify across a range of asset classes.


Period ended December

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Defensive and growth assetsAsset classes are generally grouped as either defensive or growth because of their different characteristics.

Both defensive and growth assets are included in a multi-asset portfolio because they generally perform differently. For example, fixed interest may be in a portfolio to provide returns when share markets are weak. In some market conditions, both defensive and growth assets may deliver low or negative returns.

The main differences between defensive and growth assets are:

Defensive Growth

Assets classes include Cash and fixed interest securities

Shares, property and private markets

How they are generally used

To generate an income and stabilise returns

To provide long-term capital growth

Risk and return characteristics

Expected to produce lower returns than growth assets over the long term and be less volatile

Expected to produce higher returns than defensive assets over the long term and be more volatile

Asset classesAsset classes are groups of similar types of investments. Each class has its risks and benefits, and goes through its own market cycle. A market cycle can take a couple of years or many years; it’s different each time.

In the description of each investment option, we include a minimum suggested time to invest. Investing for the minimum time or longer improves your chances of achieving the return you expect. However, returns can’t be guaranteed.

You need to be prepared for all sorts of return outcomes when investing.

Here are the main asset class risks and benefits.

Cash

Cash is generally a low risk investment.

Things to consider:

• Cash is often included in a portfolio to meet liquidity needs and for its defensive characteristics.

• The return is typically interest which may also be referred to as yield.

• Cash is usually the least volatile type of investment. It also tends to have the lowest return over a market cycle.

• The market value tends not to change. However, when you invest in cash, you’re effectively lending money to businesses or governments that could default on the loans, resulting in a loss on your investment.

Fixed interest (including term deposits)

When investing in fixed interest, you’re effectively lending money to businesses or governments.

Things to consider:

• Fixed interest securities are usually included in a portfolio for their defensive characteristics.

• Returns typically comprise interest and changes in the market value of the security.

• There are different types of fixed interest securities and these will have different returns and volatility.

• The market value of a fixed interest security may fall due to factors such as an increase in interest rates or concern about defaults on loans. This may result in a loss on your investment.

• The interest rate on a term deposit is fixed for its specified term. This means if held until maturity, the return on the term deposit won’t be affected by changes in interest rates.

• Fixed interest securities denominated in foreign currencies will be exposed to exchange rate variations.

Property

Investing in property will give your portfolio exposure to listed and unlisted property in Australia and around the world. Listed property securities are referred to as Real Estate Investment Trusts (REITs).

Things to consider:

• Property is usually included in a portfolio for its income and growth characteristics.

• Returns typically comprise distribution income and changes in values.

• Returns are driven by many factors including the economic environment in various countries.

• Property returns can be volatile.

• Investing outside Australia means you’re exposed to exchange rate variations.

• Australian listed property securities are dominated by only a few REITs and provide limited diversification.

Australian shares

This asset class consists of investments in companies listed on the Australian Securities Exchange (and other regulated exchanges). Shares are also known as equities.

Things to consider:

• Australian shares can be volatile and are usually included in a portfolio for their growth characteristics.

• The Australian share market has recently been dominated by a few industries such as Financials and Resources.

• Returns typically comprise dividends and changes in share prices.

• Dividends may have tax credits attached to them (known as franking or imputation credits).

• Returns are driven by many factors including the performance of the Australian economy.

International shares

International shares consist of investments in companies listed on securities exchanges around the world.

Things to consider:

• International shares can be volatile and are usually included in a portfolio for their growth characteristics.

• The number of potential investments is far greater than in Australian shares.

• Returns typically comprise dividend income and changes in share prices.

• Returns are driven by many factors including the economic environment in various countries.

• When you invest globally, you’re less exposed to the risks associated with investing in just one economy.

• Investing outside Australia means you’re exposed to exchange rate variations.

Private markets

Investing in private markets gives your portfolio exposure to assets that aren’t traded on listed exchanges. An example of this is an investment in a privately owned business.

Things to consider:

• Private markets are usually included in a portfolio for their growth characteristics.

• Returns are driven by many factors including the economic environment in different countries.

• Private markets can be volatile and can take years to earn a positive return.

• Private markets are usually included in a portfolio to provide higher returns than share markets in the long run, and to increase diversification.

• Private markets are illiquid which makes them difficult to buy or sell.

• To access private markets you generally need to invest in a managed fund that invests in private assets.

• Because private assets aren’t listed on an exchange, determining their value for a fund’s unit price can be difficult and may involve a considerable time lag.

Alternatives

These are a very diverse group of assets that aren’t like the mainstream assets of cash, fixed income or shares. Some examples include hedge funds, infrastructure, and gold.

Things to consider:

• Because alternatives are diverse, they may be included in a portfolio for their defensive or growth characteristics.

• Alternative investments are usually included in portfolios to increase diversification and provide returns that aren’t strongly linked with the performance of mainstream assets.

• For some alternatives, such as hedge funds, it can be less obvious what assets you’re investing in than with other asset classes.

• Some alternative investments are illiquid, which makes them difficult to buy or sell.


• To access alternative investments you generally need to invest in a managed fund that, in turn, invests in alternatives.

• Because most alternative investments aren’t listed on an exchange, determining their value for a fund’s unit price can be difficult and may involve a considerable time lag.

• Alternatives invested outside of Australia may expose your portfolio to exchange rate variations.

Investment approachesInvestment managers have different approaches to selecting investments. There are two broad approaches: passive and active management.

Passive management

Passive, or index managers, choose investments to form a portfolio which will deliver a return that closely tracks a market benchmark (or index). Passive managers tend to have lower costs because they don’t require extensive resources to select investments.

Active management

Active managers select investments they believe, based on research, will perform better than a market benchmark.

They buy or sell investments when their market outlook alters or their investment insights change.

The degree of active management can vary. Active managers may deliver returns quite different to the benchmark.

Active managers have different investment styles and these affect their returns. Some common investment styles are:

• Bottom-up – focuses on forecasting returns for individual companies, rather than the market as a whole.

• Top-down – focuses on forecasting broad macroeconomic trends and their effect on the market, rather than returns for individual companies.

• Growth – focuses on companies they expect will have strong earnings growth.

• Value – focuses on companies they believe are undervalued (their price doesn’t reflect earning potential).

• Core – aims to produce competitive returns in all periods.

Ethical investingWe have an Environment, Social and Governance Risk Management Policy (ESG Policy), which applies to the MySuper Default option. The ESG Policy, available on superau.bhpbilliton.com, outlines the processes in place to assess ESG factors for the MySuper Default option, including consideration of ESG factors in investment decisions; monitoring of investment managers to assess how they identify, evaluate and manage ESG factors within their portfolios on an ongoing basis; and maintaining a research program in relation to ESG themes and trends.

The ESG Policy does not require any specific methodology in assessing ESG factors, nor does it require any specific factor to be taken into account.

For other investment options, we expect the active investment managers to consider any material effect ESG factors may have on the returns from their investments, however we don’t require them to.

Investment techniquesInvestment managers may use different investment techniques that can change the value of an investment. Some of the main investment techniques are explained below.

Derivatives

Derivatives may be used in any of the investment options.

Derivatives are contracts that have a value derived from another source such as an asset, market index or interest rate. There are many types of derivatives including swaps, options and futures. They are a common tool used to manage risk or improve returns.

Some derivatives allow investment managers to earn large returns from small movements in the underlying asset’s price. However, they can lose large amounts if the price movement in the underlying asset is unfavourable.

Investment managers, have derivatives policies which outline how derivatives are managed.

Currency management

If an investment manager in Australia invests in assets in other countries, the returns in Australian dollars will be affected by movements in exchange rates (as well as changes in the value of the assets).

An investment manager of international assets may protect Australian investors against movements in foreign currency. This is known as ‘hedging’. Alternatively, the manager may keep the assets exposed to foreign currency movements, or ‘unhedged’.

The exposure to foreign currency can increase diversification in a portfolio.

Gearing

Gearing can be achieved by using loans (borrowing to invest), or through investing in certain derivatives, such as futures.

Gearing magnifies exposure to potential gains and losses of an investment. As a result, you can expect larger fluctuations (both up and down) in the value of your investment compared to the same investment which is not geared.

Investment managers can take different approaches to gearing. Some change the gearing level to suit different market conditions. Others maintain a target level of gearing.

It’s important to understand both the potential risks of gearing, as well as its potential benefits. When asset values are rising by more than the costs of gearing, the returns will generally be higher than if the investment wasn’t geared.

When asset values are falling, gearing can multiply the capital loss. If the fall is dramatic there can be even more implications for geared investments.

For example, the lender requires the gearing level to be maintained below a predetermined limit. If asset values fall dramatically, the gearing level may rise above the limit, forcing assets to be sold when values may be continuing to fall.

In turn, this could lead to more assets having to be sold and more losses realised. Withdrawals (and applications) may be suspended in such circumstances, preventing you from accessing your investments at a time when values are continuing to fall.

Although, this is an extreme example, significant market falls have occurred in the past. Recovering from such falls can take many years and the geared investment’s unit price may not return to its previous high.

Other circumstances (such as the lender requiring the loan to be repaid for other reasons) may also prevent a geared investment from being managed as planned, leading to losses.

You need to be prepared for all types of environments and understand their impact on your geared investment.

Short selling

Short selling is used by an investment manager when it has a view that an asset’s price will fall. The manager borrows the asset from a lender, usually a broker, and sells it with the intention of buying it back at a lower price. If all goes to plan, a profit is made. The key risk of short selling is that, if the price of the asset increases, the loss could be significant.

Short selling example (loss)

An investment manager short sells by selling 1,000 futures contracts of ABC index at $100 each. When the futures contract price rises to $120, the investment manager buys the same number of contracts to close the position.

Trade No of contracts

Contract price

Multiplier Total income/cost

Opening sell 1,000 $100 10 $1,000,000

Commission $(200)

Closing buy 1,000 $120 10 $(1,200,000)

Loss $(200,200)

Short selling example (profit)

An investment manager short sells by selling 1,000 futures contracts of ABC index at $100 each and closes the position when the futures contract price falls to $80.

Trade No of contracts

Contract price

Multiplier Total income/cost

Opening sell 1,000 $100 10 $1,000,000

Commission $(200)

Closing buy 1,000 $80 10 $(800,000)

Profit $199,800


Considering an investment optionThe information below explains terms used in the profiles for each investment option.

Term used in profiles Explanation

Investment objective Describes what the investment option aims to achieve over a certain timeframe. Most investment options aim to produce returns that are comparable to a benchmark (see below for more information on benchmarks). The performance of an investment option should be judged against its objective.

About the investment option Describes how the investment option is structured and managed.

The investment option may be suited to you if …

Suggests why you may be interested in investing in this particular investment option. Your own personal objectives and circumstances will also affect your decision.

Minimum suggested time to invest Investment managers suggest minimum time frames for each investment option. Investing for the minimum suggested time or longer improves your chances of achieving a positive return. However, investing for the minimum time doesn’t guarantee a positive return outcome. Your personal circumstances will determine how long you hold an investment.

Asset allocation Shows the proportion of an investment option that’s invested in each asset class. The range shows the minimum and maximum amount that may be held in each asset class at any time.

Benchmark Benchmarks are usually market indices that are publicly available. Shares are often benchmarked against a share market index and fixed interest against a fixed interest market index. Other benchmarks can be based on particular industries (eg mining), company size or the wider market (eg S&P/ASX200 or the MSCI World Index).

Benchmarks for multi-asset portfolios may be:

• made up of a combination of market indices weighted according to the asset allocation (commonly known as composite benchmarks), or

• a single measure, such as inflation. A common index of inflation, which is the rise in the cost of living, is the Consumer Price Index (CPI).

When comparing returns to a benchmark you should consider:

• whether the investment option’s return is calculated before or after fees and tax are deducted, and

• the period over which the return should be measured.

Estimated number of negative annual returns

We use the Standard Risk Measure (SRM) to help you compare the investment risk across the investment options we offer. The SRM is the estimated number of negative annual returns in any 20 year period. Because it’s an estimate, the actual number of negative returns that occur in a 20 year period may be different. The SRM is based on industry guidelines, however it isn’t a complete assessment of investment risk. For example, it doesn’t:

• capture the size of a possible negative return or the potential for sufficient positive returns to meet your objectives, or

• take into account the impact of fees and tax. These can increase the chance of a negative return.

Information on how the SRM is calculated is available on superau.bhpbilliton.com

Term used in profiles Explanation

Estimated number of negative annual returns (continued)

Risk band Risk label Estimated number of negative returns in any 20-year period

1 Very low Less than 0.5

2 Low 0.5 to less than 1

3 Low to medium 1 to less than 2

4 Medium 2 to less than 3

5 Medium to high 3 to less than 4

6 High 4 to less than 6

7 Very high 6 or greater

Fees and costs Shows the fees and costs for investing in each investment option.


MySuper Default optionThe MySuper Default option is a diversified investment option designed to meet the needs of most members of the Fund. The MySuper Default option is broadly diversified within asset classes, across asset classes and across underlying investment managers.

If you don’t make an investment choice, your super money will go into the MySuper Default option. Or, you can choose an investment option from one of the following ‘paths’ which are designed to suit your level of involvement and investment knowledge.

Diversified optionsThere is a range of diversified investment options available so you can select an expected risk and return profile to meet your needs.

At the lower end of the risk and return potential is the Conservative option, which invests mainly in defensive assets such as fixed interest and cash. At the higher end of the risk and return potential is the Aggressive option, which invests mainly in growth assets such as shares.

This comprehensive series of investment options means, wherever you are in life you can choose an investment solution to suit you.

These options are actively managed and broadly diversified within asset classes, across asset classes and across underlying investment managers.

Investing in a diversified option is an easy way to gain access to sophisticated investments. This way you can implement your financial plan with confidence.

Choosing your path

Sector-specific optionsThere is a range of single-sector investment options available. Single-sector investment options cater for people looking for a complete asset class solution. They are managed on an active basis.

We also offer the Cash Option which invests in deposits with banks and other comparable securities.

You should have some understanding of investments, including the difference between the main asset classes before selecting an investment option.

You should carefully consider the risks of investing your entire account balance in a single-sector investment option and whether this represents adequate diversification. For more information, refer to the ‘Diversify to reduce volatility and other risks’ section of this Investment Menu.

MySuper Default option

Your investment options

Plum MySuper

Investment objective To outperform inflation, measured by the CPI, by 3% pa after investment fees and taxes, over any 10 year period.

About the investment option

Aims to invest proportionately more in growth assets than defensive assets to achieve medium-to-high long-term returns, with moderate to high volatility.


• you want long-term capital growth; and

• you understand and accept there can be moderate to high fluctuations in the value of your investment.

Minimum suggested time to invest

6 years

Benchmark asset allocation and ranges (at 1 January 2016)

The portfolio will be managed within these ranges.

The benchmark asset allocation and ranges may change over time. Please see plum.com.au for the most up to date information.

Asset class Benchmark asset

allocation (%)

Ranges (%)

Cash 5%

Australian fixed interest 11%

International fixed interest 7%

Defensive alternatives 7%

Total defensive assets 30% 15–45%

Australian shares 28%

International shares (hedged) 8%

International shares 17%

Property 5%

Private markets 5%

Growth alternatives 7%

Total growth assets 70% 55–85%

Benchmark A combination of market indices, weighted according to the asset allocation.


Medium to high, between 3 and 4 years in 20 years

Indicative investment fee

Actual fees may be different to the estimates shown.

Investment fee (% pa) 0.60

Estimated performance fee (% pa) 0.01

Total (% pa) 0.61

From 1 June 2016 0.46

0.01

0.47

Buy-sell spreads Entry/Exit (%) 0.05/0.00

From 1 June 2016 0.05/0.05

Estimated indirect cost ratio (% pa)


0.08

Defensive assets

Growth assets

70%

%

Conservative

Investment objective To outperform the CPI + 2% pa after investment fees and taxes over rolling 5 year periods.


The option invests 30% in growth assets and 70% in defensive assets. It provides a reasonable degree of short-term security with the potential for higher returns than cash offers.


• you want to invest with a bias to defensive assets, with some exposure to growth assets.

• preserving your capital is an important but not overriding concern.


3 years



The benchmark asset allocation and ranges may change over time. Please see superau.bhpbilliton.com for the most up to date information.


allocation (%)

Ranges (%)

Cash 10%

Fixed interest 59%





Property 2%





Low to medium, between 1 and 2 years in 20 years





Total (% pa) 0.35




0.03

Diversified options

Defensive assets

Growth assets

30%

%


Cautious

Investment objective To outperform the CPI + 2.5% pa after investment fees and taxes over rolling 5 year periods.


The option invests 50% in growth assets and 50% in defensive assets. It provides a balanced mix of assets, steady long-term returns and some investment volatility.


• you want to invest in an approximately equal mix of defensive and growth assets.

• you want a portfolio with some long-term capital growth potential and can tolerate some changes in value.


5 years





allocation (%)

Ranges (%)

Fixed interest 49%





Property 3%





Medium, between 2 and 3 years in 20 years





Total (% pa) 0.38




0.12

Defensive assets

Growth assets

50%

%

Moderate



The option invests 70% in growth assets and 30% in defensive assets. It has more emphasis on growth assets to achieve higher returns with a higher level of risk. However, some lower risk defensive assets balance out the short-term risks associated with growth assets.


• you want to invest with a bias to growth assets.

• you want a portfolio with a bias towards long-term capital growth potential and can tolerate moderate to large changes in value.


6 years





allocation (%)

Ranges (%)

Fixed interest 29%





Property 4%





Medium to high, between 3 and 4 years in 20 years





Total (% pa) 0.45




0.11

Defensive assets

Growth assets

70%

%


Assertive

Investment objective To outperform the CPI + 3.5% pa after investment fees and taxes over rolling 10 year periods.


The option invests 85% in growth assets and 15% in defensive assets. It has a strong emphasis on shares and property and therefore carries more investment risk. So don’t be surprised if the value of your super goes down in the short term. However, there is the potential for a higher investment return over longer periods.


• you want to invest with a strong bias to growth assets.

• you want a portfolio with a strong bias towards long-term capital growth potential and can tolerate moderate to large changes in value.


7 years





allocation (%)

Ranges (%)

Fixed interest 14%





Property 3%





High, between 4 and 6 years in 20 years





Total (% pa) 0.45




0.10

Defensive assets

Growth assets

85%

%

Aggressive



The option invests 100% in growth assets. It has complete emphasis on growth assets comprising Australian and International shares and property and therefore carries more investment risk. Although there is the potential for a much higher investment return over the long term, the returns may fluctuate significantly in the short term.


• you want to invest with a strong bias to growth assets.

• you want a portfolio focussed on long-term capital growth potential and can tolerate large changes in value.


7 years





allocation (%)

Ranges (%)




Property 3%










Total (% pa) 0.53




0.04

Growth assets

100%


Sector-specific options

Cash Option

Investment objective To outperform the Reserve Bank of Australia’s Cash Rate Target over rolling 1 years before fees and taxes.


This option aims to provide security and liquidity and is invested totally in cash assets. Suitable for investors who want capital protection and who have no tolerance for volatility. Returns for this option are generally expected to be positive.


• you want to invest in a low risk cash portfolio.


No minimum

Benchmark asset allocation (at 1 January 2016)

100% Cash

Benchmark Reserve Bank of Australia’s Cash Rate Target


Low, between half and 1 year in 20 years




Buy-sell spreads Entry/Exit (%) 0.00 / 0.00



n/a

Fixed Interest Option

Investment objective To outperform the composite benchmark of 50% Bloomberg AusBond Composite Bond (All Maturities) Index and 50% Barclays Global Aggregate Index over rolling 3 years before fees and taxes.


The option is diversified across different types of fixed interest securities in Australia and around the world. The securities are predominately investment grade and typically longer dated. The average term to maturity is normally in the range of three to six years. Foreign currency exposures will generally be substantially hedged to the Australian dollar. As a result of capital restructures of bond issuers, the option may have an incidental exposure to shares from time to time.


• you want to invest in a defensive portfolio that’s actively managed and diversified across investment managers, countries, bond sectors and securities.


3 – 5 years


50% Australian fixed interest

50% International fixed interest

Benchmark Bloomberg AusBond Composite Bond (All Maturities) Index Barclays Global Aggregate Bond Index (hedged into Australian dollars)


Medium, between 2 and 3 years in 20 years







n/a


Property Option

Investment objective To outperform the composite benchmark of 75% S&P/ASX 300 A-REIT Accumulation Index and 25% FTSE EPRA/NAREIT Global Developed Index (hedged into Australian Dollars) over rolling 5 years before fees and taxes.


The option invests primarily in Australian property securities, including listed REITs and companies across most major listed property sectors. It does not normally invest in direct property, but may have some exposure to property securities listed outside of Australia from time to time.


• you want to invest in an actively managed property securities portfolio that invests in Australia, with some global exposure, and diversifies across property sectors and REITs.


7 years


75% Australian listed property

25% International listed property

Benchmark S&P/ASX 300 A-REIT Accumulation Index

FTSE EPRA/NAREIT Global Developed Index (hedged into Australian Dollars)









n/a

Australian Shares Option

Investment objective To outperform the S&P/ASX 300 Accumulation Index over rolling 5 years before fees and taxes.


The option invests primarily in companies listed (or expected to be listed) on the Australian Securities Exchange, and is typically diversified across major listed industry groups. The Trust may have small exposure to companies listed outside of Australia from time to time.


• you want to invest in an actively managed Australian share portfolio that’s diversified across investment managers, industries and companies.


7 years


100% Australian shares

Benchmark S&P/ASX 300 Accumulation Index






Estimated Performance fee (% pa) 0.06

Total (% pa) 0.54




n/a


Global Shares (unhedged) Option

Investment objective To outperform the MSCI All Country World Index (net dividends reinvested) over rolling 5 years before fees and taxes.


The option invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups. Foreign currency exposures will generally not be hedged to the Australian dollar.


• you want to invest in a global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.

• you’re comfortable having foreign currency exposure.


7 years


100% International shares

Benchmark MSCI All Country World Index (net dividends reinvested)









n/a

Global Shares (hedged) Option

Investment objective To outperform the MSCI All Country World Index (net dividends reinvested, hedged into Australian dollars) over rolling 5 years before fees and taxes.


The option invests primarily in companies listed (or expected to be listed) on share markets anywhere around the world, and is typically diversified across major listed industry groups. Foreign currency exposures will generally be substantially hedged to the Australian dollar.


• you want to invest in a global share portfolio that’s diversified across investment managers, countries (developed and emerging), industries and companies.

• you do not want foreign currency exposure.


7 years


100% International shares (hedged)

Benchmark MSCI All Country World Index (net dividends reinvested, hedged into Australian dollars)


Very high, greater than 6 years in 20 years







n/a

JANA has given written consent to be named and quoted in the PDS and this Investment Menu, and to the inclusion of statements made by them. As at the date of the PDS, these consents have not been withdrawn. PFS Nominees Pty Limited ABN 16 082 026 480 AFSL 243357. Part of the National Australia Bank Group of Companies. An investment with PFS Nominees Pty Limited is not a deposit or liability of, and is not guaranteed by, NAB. A118521-0416

Contact usFor more information visit superau.bhpbilliton.com or call us from anywhere in Australia on 1300 22 2472, between 8am and 7pm AEST (8pm daylight savings time) Monday to Friday.

Postal address

BHP Billiton Superannuation Fund GPO Box 63 Melbourne VIC 3001

Office address

BHP Billiton Superannuation Fund Level 4, 500 Bourke Street Melbourne VIC 3000

Documents

BHP Billiton Superannuation Fundsuperau.bhpbilliton.com/content/dam/plumbhp/documents/BHP... · BHP Billiton Superannuation Fund Investment Menu Preparation date 11 May 2016 Issued