Designed for investors with a time horizon of at least five years, who want an investment portfolio balanced between growth and defensive assets, with a medium degree of risk.

Investment objective

This investment stage aims to:

  • achieve a return that exceeds CPI by at least 3% pa over a five year period, after tax and investment fees; and
  • limit the likelihood of a negative annual return to less than three in 20 years (or 15% likelihood in each year).

Minimum suggested time to invest

5 years.

Risk level

This investment option has a medium degree of risk (risk band 4).

The estimated number of negative annual returns over any 20 year period is 2.6 years.2

1 The strategic asset allocation is an indication of the proportion of the investment option assets that are allocated to each asset class. The actual asset allocation to each of the asset classes may vary from time to time, but within the ranges indicated.

2 The figure shown is the estimated number of negative annual returns over any 20 year period for this investment option. This is different to the investment objective (which aims to limit the likelihood of negative returns to less than a specified number of years).

Asset classStrategic asset allocation1 (%)Range (%)
Growth assets
Growth alternatives
Defensive assets
Defensive alternatives
Fixed interest