Fund Performance
The Fund performance is calculated by comparing unit prices over the relevant performance measurement period and also taking into account income distributions made during the period.
The objective of the Third Link Growth Fund is to provide a diversified growth-oriented investment with a bias at most times to Australian listed shares. We aim to outperform the returns of the Morningstar Multi-Sector Growth Market Index1 after fees over rolling five year periods.
As at the end of December 2011, the Fund performance (after fees and assuming income distributions were reinvested) relative to the Morningstar Multi-Sector Growth Market Index was as follows:
SINCE INCEPTION (JUNE 2008)2 | THREE YEARS | TWO YEARS | ONE YEAR | SIX MONTHS | THREE MONTHS | |
Third Link Growth Fund | +2.6% p a | +10.8% p a | +0.3% p a | -5.5% | -5.4% | +2.1% |
Morningstar Multi-Sector Growth Market Index | -1.7% p a | +4.8% p a | +0.1% p a | -2.3% | -3.8% | +2.6% |
Fund Relative Performance | +4.3% p a | +6.0% p a | +0.2% p a | -3.2% | -1.6% | -0.5% |
All Ordinaries Accumulation Index | -5.0% pa | +8.5% pa | -4.3% p a | -11.4% | -9.6% | +1.89% |
The graph below shows the value of $1,000 invested in the Third Link Growth Fund since the beginning of June 2008, tracked on a month by month basis and assuming income distributions were reinvested. This is compared to the value of $1,000 invested in the Morningstar Multi-Sector Growth Market Index over the same period.
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1 The Morningstar Multi-Sector Growth Market Index is compiled by Morningstar Australasia Pty Ltd (Morningstar), a unit of Morningstar, Inc. a leading provider of independent investment research in North America, Europe, Australasia and Asia. Morningstar construct this index by reviewing the asset allocation of Australian fund managers who operate multi-sector funds and have between 61 per cent and 80 per cent of their assets in growth sectors (typically defined as equity and property asset classes) with the balance in cash and fixed income securities. Morningstar periodically adjusts the index weighting to the various asset sectors as appropriate, but currently the index weighting comprises approximately 72 per cent growth assets (split between Australian shares, international shares and property) and 28 per cent cash and fixed income securities (including Australian and international securities).
2 The Third Link Growth Fund was established on 12 March 2008 (though it was not open for investment until 10 April 2008, being the date of the first PDS). Up until the end of May 2008 it was a requirement that application monies received into the Fund were kept on deposit as the unit price was held at $1.00. This restriction was removed from the beginning of June 2008, at which time the Fund was free to invest in accordance with its objective. The performance figures shown in this column are expressed as annual compound returns.
Investors should be aware that past performance is not indicative of future performance. Returns can be volatile, reflecting rises and falls in the value of underlying investments. Potential investors should consider the Product Disclosure Statement dated 31 March 2010 before deciding whether to invest or continue to invest in the Funds.
Treasury Group Investment Services Limited is the responsible entity of the Fund and does not guarantee the performance of the Fund, repayment of capital or any particular rate of capital or income return. Investors should obtain independent investment and/or tax advice from a licenced adviser as to the suitability of the Fund to their investment needs.
