Model Portfolios
Model portfolios are a way for you to gain exposure to a range of assets according to a defined investment strategy and objective. Model portfolios invest in a range of assets which may include listed securities, managed funds, ETFs (Exchange Traded Funds), cash and fixed interest investments. You can choose one model portfolio option or a combination of options. The minimum initial investment is
different for each Model Portfolio. There is no minimum for additional investments you may choose to make in your model portfolio.

Investment manager profiles

Antares specialises in the active management of Australian shares. For more than 25 years Antares has provided investment solutions for wholesale, advised and direct investors through a range of products including concentrated, income focused and mid-cap. Antares believes in bottom-up stock picking which is underpinned by a consistent process and detailed, quality research. Antares is part of MLC Asset Management.

Ausbil Investment Management Limited (Ausbil) was established in April 1997. Ausbil manages Australian and international securities for major superannuation funds, institutional investors, master trust and retail clients as well as being the responsible entity of several registered managed investment schemes. Ausbil is owned by its employees and indirectly by New York Life Investment Management Holdings LLC (New York Life Investments), a wholly owned subsidiary of New York Life Insurance Company. 

Pendal Institutional Limited (Pendal) is a global investment manager focused on delivering superior investment returns for its clients through active management. Pendal offers investors a range of Australian and international investment choices including shares, property securities, fixed income and cash strategies, as well as multi-asset and responsible investments. To complement its in-house expertise, Pendal also partners with leading global investment managers.

JBWere was established in 1840 and is a highly regarded Private Wealth brand across the Australian wealth management industry. The management of intergenerational, family and institutional wealth has been the cornerstone of the JBWere business since inception. JBWere Limited provides clients with an extensive array of investment options.

Perennial Value is a specialist, active investment management firm. Formed in 2000 and led by well-known Value investor John Murray, Perennial Value’s sole focus is to deliver excellence in funds management through equity ownership and the alignment of interests between key investment management staff and our clients. 

The PIC Lifecycle portfolios are managed by Lonsec Investment Solutions Pty Ltd (LIS), and incorporate advice and input from MLC Asset Management Pty Ltd in areas such as asset allocation, to provide
a blend of ideas from different sources to structure portfolios. 

Redpoint is a boutique fund manager specialising in listed asset classes including Australian equities, international equities, global infrastructure and global property.

Zurich Financial Services Australia is part of the worldwide Zurich Financial Services Group, an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets.

MLC Asset Management Services Limited (MLC Asset Management) is one of Australia’s most experienced investment managers, with over 35 years’ experience designing and managing portfolios and over $92.3 billion* in assets under management. 

Model Portfolios
Model portfolios are a way for you to gain exposure to a range of assets according to a defined investment strategy and objective. Model portfolios invest in a  range of assets which may include listed securities, managed funds, ETFs (Exchange Traded Funds), cash and fixed interest investments. You can choose one model portfolio option or a combination of options. The minimum initial investment is different for each Model Portfolio. There is no minimum for additional investments you may choose to make in your model portfolio.

For each model the PDS provides the following information:

• Investment manager
• Indicative number of securities held
• Automatic payment of investment income
• Benchmark
• Model management fee (% pa)
• A profile of the model manager
• The investment objective
• The investment strategy
• Indicative cash holdings
• Asset class ranges
• Performance fees (if any)

Benefits of the SMA
Individual accounts: When you invest in the SMA through a platform, a separate interest will be issued to the platform operator in relation to each Model Portfolio you choose, and any assets we hold in relation to that separate interest will be accounted for separately. Asset holdings that relate to a Model Portfolio that you select are referred to in this PDS as “your account” or “your ModelPortfolio”.
You (or the trustee in the case of a superannuation investment) retain beneficial ownership of the assets held in your account.
Transparency: You can view the assets that you hold within your chosen Model Portfolio through your platform reports and facilities.
Portability: You can transfer Australian securities and units in managed funds that are held by (or for) you into the Wrap platform before transfer into the SMA and still retain the beneficial interest in those assets. You can also transfer your securities and units in managed funds between your Model Portfolios within the SMA. 
No inherited capital gains for listed securities: When you transfer assets into your account, or assets are acquired by us and held as part of your account, an individual cost base is established in relation to that Model Portfolio. For listed securities this means there are no tax consequences for you as a result of other investors’ transactions. The same benefit however does not apply for holdings of managed
funds within the SMA.

If you want to start an investment in the SMA, you must do so through an Investor Directed Portfolio Service (IDPS), a master trust, a superannuation fund or Wrap account – collectively known as a ‘platform’, administered or operated by NAL or another IOOF Group Company.

Investments into the SMA via your platform account can be made in the following ways:

• cash investment;
• transfer of securities and/or units in
• managed funds; or
• a combination of both.

The minimum initial investment is different for each Model Portfolio.

The Navigator integrated SMA ('the iSMA'), available on MLC Wrap and MLC Navigator (including Series 2 and associated badges), offers portfolios that enable your clients to invest in a range of assets according to a defined investment strategy and objective.

The iSMA offers two main types of portfolios – single sector portfolios, which include listed securities, and multi-asset portfolios, which may include listed securities, managed funds and cash investments.

The iSMA provides a range of client benefits including beneficial ownership (non-Superannuation only), transparency of underlying assets, portability, and professional investment management.

Investment through the SMA, and the information in this PDS, is only intended to be accessed by persons who hold an account in an investor directed portfolio service, a master trust or a superannuation fund (each referred to in this PDS as a “platform”) that is administered or operated by an Insignia Financial Group company (referred to in this PDS as the “platform operator”). When you apply to invest in the SMA via the relevant platform, the platform operator will hold the relevant interest in the SMA on your behalf according to the terms of that platform.  

Professional investment management: You can benefit from the services provided to NAL by investment professionals who monitor and manage Model Portfolios on our behalf. NAL, as responsible entity for the SMA, has appointed a number of investment managers to provide NAL with a range of investment advisory services in connection with the Model Portfolios that you can select when investing in the SMA.

Consolidated reporting: Because the SMA is fully integrated with the technology systems of the platform through which you access the SMA, you will be able to have a comprehensive view of your Model Portfolio. This means you can:

• view the breakdown of securities, managed funds and cash investments in your Model Portfolio
• keep track of your investments, and
• transact between the SMA and other investments on your platform easily

The Navigator integrated SMA ('the iSMA'), available on MLC Wrap and MLC Navigator (including Series 2 and associated badges), offers portfolios that enable your clients to invest in a range of assets according to a defined investment strategy and objective.