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Conservative Balanced

The Capital Managed investment option name was changed to Conservative Balanced on 19 September 2022.

The Conservative Balanced investment option caters for members who are seeking moderate returns and prepared to accept potentially modest fluctuations in returns over shorter time periods. It invests in growth assets, but has substantial exposure to defensive assets.

Return Target1

Return target of 2.5% per year above inflation over rolling 10-year periods after fees and taxes.

Risk: Medium to High

Risk: Medium to High

Negative returns expected 3.4 out of every 20 years.

Conservative Balanced - Estimated fees and costs

Administration fees and costs: 0.18% p.a. plus 0.03% p.a.1
Investment fees and costs: 0.59%
Transaction costs: 0.05%

See the Fees and other costs section of the Investment choice guide for a full explanation of the costs for each investment option.

1 This amount includes one off merger costs. This amount is not deducted from your account balance but is deducted from the Fund’s General Reserve.


Returns are reported on a basis of soft close valuations and are net of investment fees and costs and transaction costs, net of taxes, and net of the percentage-based administration fee (accrued in the unit price).

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