Your guide to the managed funds data

TOP 5 RETAIL AUSTRALIAN SHARE FUNDS BY SIZE | TOP 5 STOCKHOLDINGS

Professionally managed investment funds can be the way to go if you don’t have the time or expertise to manage your own investments. For a fee, the professionals do the work for you. Theoretically, a full-time fund manager should be able to produce a better return than a part-time investor.

Morningstar (www.morningstar.com.au), a leading global provider of investment research, supplies our managed funds data. There were more than 6000 managed funds on offer when Morningstar launched its star rating system to help investors with a way to initially identify quality funds. The ratings are not for predicting future performance. Funds less than three years old are not rated. Morningstar has filtered out funds smaller than $1 million.

Here you’ll find information on several asset classes – Australian equities, international equities and multisector funds (sometimes called balanced funds) – including top stockholdings for selected funds. For multisector funds we show the asset allocation for selected funds. Returns are as at March 31, 2013, and other data is correct as at March 31, 2013. For any enquiries about the funds tables, you can contact Morningstar on 1800 034 455 or This email address is being protected from spambots. You need JavaScript enabled to view it. .

What they mean

APIR Identification number of the fund. They are voluntary and not all fund managers elect to have APIR codes assigned to their funds.

MER/ICR The management expense ratio is the annual management fee paid to the fund manager. The investment cost ratio is a new calculation of this fee, recommended by ASIC and IFSA, and includes an additional performance fee based on the one levied the year before. Fees are a percentage of your investment.

Returns The returns published are net (after) the annual management fee but do not take into account any transaction (entry/exit) fees an investor may have to pay. The returns are before tax.

Entry fees Entry fees are levied on most managed funds. The amount varies between fund managers and depends on the fund’s asset class. International funds generally attract the highest entry fees – up to 6% of the amount invested. You can avoid most entry fees by going through a discount broker. If you are using the services of a financial adviser, try to negotiate a discount. If you go directly to a fund manager you’ll usually be charged the full entry fee. Nil-entry-fee options are often available but higher management expense ratios usually apply.

Star rating Morningstar calculates and publishes star ratings for over 7000 funds monthly using the latest quantitative fund performance data. To get a Morningstar star rating, a fund must be at least three years old. Here is what they mean:

***** very good performer **** good performer *** average performer ** poor performer * very poor performer

NAp Not applicable NAv Not available

Disclaimer: © Morningstar Australasia Pty Ltd (‘Morningstar’) ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc). All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. The Morningstar Rating is an assessment of a fund’s past performance-based on both return and risk – which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of this information constitutes advice, it is general advice that has been prepared by Morningstar without reference to your objectives, financial situation or needs. Before acting, you should consider the appropriateness of the advice and obtain financial, legal and taxation advice before making any financial investment decision. Investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Please refer to our Financial Services Guide (FSG) for more information www.morningstar.com.au/fsg.asp

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