*Return target – This is the mean annualised estimate of the percentage rate of net return for a representative member invested in one of the Glidepath investment stages above the growth in the Consumer Price Index (CPI) over the next 10 years, from 1 July 2020. This return target is for the 10 years to 30 June 2030, and is net of investment and administration fees and costs, and taxes. The return target differs from that stated in the Gateway Product Disclosure Statement, which is net of investment fees and taxes only. It is not a prediction of future returns, which cannot be guaranteed.
^Return – This figure is calculated for each financial year ending 30 June and is net of all fees, costs and taxes. Glidepath commenced on 1 October 2015. Accordingly, a 10 year average annual return for the Glidepath investment stages is not available. The 10 year average annual returns will be provided once available.
**Moving average return target – The moving average return target for a particular year is the average of the return targets for the relevant years and the previous years in the comparison period, inclusive of CPI.
^^Level of investment risk – Represents the estimated number of years in a 20 year period that a negative net investment return will be incurred. The stated level of risk is based on the Standard Risk Measure (SRM). The SRM is a standard industry guidance to help you compare the risk of each of the Glidepath investment stages with investment options offered by other super funds. The higher the expected return target, the more often you would expect a year of negative returns.
***Statement of fees and other costs – Represents the dollar amount of fees and other costs paid annually by a representative Gateway member with a balance of $50,000 in each of the Glidepath investment stages for the 2020/2021 financial year, excluding any investment gains or losses on the account balance and assuming that no activity fees are incurred. The amount also takes into account the estimated investment fees, including the maximum estimated performance fees, for the 2020/2021 financial year.