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| | Home | Investment | Wholesale Investment | Wholesale Diversified Balanced Fund | |
Wholesale Diversified Balanced Fund
The Wholesale Diversified Balanced Fund ('the Fund') is closed to new investors
Overview
The Fund generally invests across all major asset classes.
This Fund aims to
Outperform inflation by a margin of at least 2% pa, after costs and over rolling 3 year periods.
Product information update
Changes to the buy/sell margin
Effective 1 April 2007, the Fund’s buy margin will be decreased from 0.20% to 0.10%. The buy margin will be applied to all new investments into the Fund. In addition, the Fund’s sell margin will be decreased from 0.20% to 0.10%. The sell margin will be applied to all redemptions from the Fund.
What is a buy/sell margin?
When funds are invested, units are bought and when funds are withdrawn, units are sold. The difference between the ‘buy price’ and the ‘sell price’ of units is known as the buy/sell margin.
Buy/Sell margins are based on an estimate of the costs of buying or selling underlying assets. For example, there are brokerage costs when buying or selling shares and buying or selling property involves legal fees, agent fees and stamp duty.
Buy/Sell margins are intended to ensure that these costs are met by those investors who are buying and selling units, rather than by all investors. As an example, if an investor makes a $1,000 application for units in the Fund after 1 April 2007, then the impact of the revised buy/sell margin would be to reduce the value of the application by $1.00, (ie 0.10% of $1000). The impact of the revised buy/sell margin on a withdrawal of $1,000 would be to reduce the value of the withdrawal by $1.00, (ie 0.10% of $1,000).
These margins may change over time and are not retained by AXA, or external managers.
Change to strategic asset allocation
The table below outlines the changes to the Fund’s strategic asset allocation effective 1 May 2006.
Strategic asset allocations | Current | New |
| Cash | 5% | 4% |
| Australian Fixed Interest | 20% | 15% |
| International Fixed Interest | 5% | 11% |
| Australian Property Securities | 5% | 10% |
| Australian Shares | 40% | 34% |
| International Shares | 25% | 26% |
| TOTAL | 100% | 100% |
 | Unit Price | 20/08/08 | Entry Price | 0.5168 | Exit Price | 0.5158 |  |
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This product summary is only provided for information purposes. It does not contain investment recommendation nor provides investment advice. Professional investment advice can help you determine your tolerance to risk as well as your need to attain a particular return on your investment. We strongly encourage you to obtain detailed professional advice and to read the relevant offer document in full before making an investment decision. Units in the fund will only be issued upon receipt of an application form accompanying a current disclosure document. The information is provided for persons in Australia only and is not provided for the use of any person who is in any other country.
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