OneAnswer - ANZ Personal Banking

1 OneAnswerInvestment Funds Guide27 February 2012 Investment PortfolioThe whole of this OneAnswer Investment Funds Guide forms Part Two of the Product Disclosure Statement (PDS) for: OneAnswer frontier Investment Portfolio OneAnswer Investment Portfolio OneAnswer Investment Portfolio //Select*.* Only applicable for OneAnswer Investment Portfolio //Select investors who joined prior to 15 November 2010. No new investors are being accepted into OneAnswer Investment Portfolio making an investment decision, you should read this Investment Funds Guide carefully together with the following books: For OneAnswer frontier Investment Portfolio: OneAnswer frontier Investment Portfolio Product Book (Part One)For OneAnswer Investment Portfolio: OneAnswer Investment Portfolio Product Book (Part One)For OneAnswer Investment Portfolio //Select: OneAnswer Investment Portfolio Product Book (Part One).

2 OneAnswer Investment Portfolio // Select Fees and Charges Guide (Part Three).If you have not received all relevant parts of the PDS, please contact Customer information can also be found in the incorporated material which is comprised of the OneAnswer Investment Portfolio Additional Information Guide. The incorporated material is available by contacting your financial adviser, visiting our website at > Forms & brochures or free of charge by contacting Customer should read all parts of the PDS and the incorporated material in its entirety before making a decision to Super and PensionThis OneAnswer Investment Funds Guide consists of two documents: 1. the Important Information document, and2.

3 The Incorporation By Reference document (the IBR Document).Each of these documents applies to the following OneAnswer Personal Super and Pension products: OneAnswer frontier Personal Super OneAnswer frontier Pension OneAnswer Personal Super OneAnswer information in the IBR Document contained within this Investment Funds Guide forms part of the Product Disclosure Statement (PDS) dated 27 February 2012 for OneAnswer Personal Super and Pension. Its purpose is to give you more information and/or specific terms and conditions referred to in the PDS. You should consider all that information before making a decision to Important Information document contained within this Investment Funds Guide does not form part of the PDS.

4 Its purpose is to provide you with additional information in relation to OneAnswer Personal Super and Pension. You can access a copy of the PDS, this Investment Funds Guide and any matter that is applied, adopted or incorporated in the PDS from our website at > Forms & brochures or you can request a copy of this information free of charge by contacting Customer notesReferences to OneAnswer relate to OneAnswer Investment Portfolio, OneAnswer Personal Super, OneAnswer Pension, OneAnswer Investment Portfolio //Select, OneAnswer frontier Investment Portfolio, OneAnswer frontier Personal Super, OneAnswer frontier Pension, ANZ OneAnswer Investment Portfolio, ANZ OneAnswer Personal Super and ANZ OneAnswer Funds Management Limited (ABN 21 003 002 800, AFSL 238342)

5 (OnePath Funds Management) is the issuer of OneAnswer Investment Portfolio, OneAnswer Investment Portfolio //Select, OneAnswer frontier Investment Portfolio and ANZ OneAnswer Investment Custodians Pty Limited (ABN 12 008 508 496, AFSL 238346, RSE L0000673) (OnePath Custodians) is the issuer of OneAnswer Personal Super and Pension, OneAnswer frontier Personal Super and Pension and ANZ OneAnswer Personal Super and this Investment Funds Guide, the terms us , we and our when used in relation to a OneAnswer product, refer to the issuer of that particular product, which is either OnePath Funds Management or OnePath Custodians as the context issuer has prepared and is responsible for the contents of this Investment Funds information provided in this OneAnswer Investment Funds Guide is general information only and does not take into account your objectives, financial situation or needs.

6 You should obtain financial advice tailored to your Personal external fund manager has provided its consent to statements relating to them being included in this Investment Funds Guide in the form and context in which it is included. No consents have been withdrawn at the time of preparation of this Investment Funds Investment Portfolio This OneAnswer Investment Funds Guide (comprising the information under the sections titled Important Information and How we invest your money ) forms Part Two of the Product Disclosure Statement dated 27 February Personal Super and Pension There are two sections in this OneAnswer Investment Funds Guide: The first section titled Important information represents the Important Information document and provides additional information that does not form part of the Product Disclosure Statement dated 27 February 2012.

7 The second section titled How we invest your money is the Incorporation By Reference document (the IBR Document) and forms part of the Product Disclosure Statement dated 27 February informationPageWhat are my investment risks?6 How we invest your moneyPageWhat are my investment choices?12 Your guide to the investment profiles15 How to read an investment profile16 Multi-manager investment fundsProfile 1 DefensiveProfile 2 ConservativeProfile 3 ModerateProfile 4 GrowthProfile 5 High growth182223262729 Single manager investment fundsProfile 1 DefensiveProfile 2 ConservativeProfile 3 ModerateProfile 4 GrowthProfile 5 High growth344046505256 MoneyForLife investment fundsProfile 2 ConservativeProfile 3 Moderate808081 Other information82 What investment funds are offered through OneAnswer ?

8 914 This page has been left blank intentionally5 Important informationInvestment Portfolio The Important information section forms Part Two of the Product Disclosure Statement dated 27 February Super and Pension The Important information section provides additional information and does not form part of the Product Disclosure Statement dated 27 February are my investment risks?The importance of risk assessmentRisk and return go hand-in-hand. When investing, you need to consider the opportunities and subsequent risks associated with each investment to create an investment profile that suits your needs. Generally speaking, the higher the potential return from an investment, the higher the risk associated with it.

9 The more volatile investment funds, such as share funds, potentially offer greater returns and high growth, but generally carry a higher risk than investing in cash or fixed interest less volatile investment funds, such as cash funds, generally provide more secure and stable returns because your capital is less susceptible to risk and you may receive interest payments. However, the returns on these investments are not guaranteed (just as the returns from other types of investments are not guaranteed). The returns also may not keep pace with should consider the level of risk involved with a particular investment and whether the potential returns justify those risks, before the investment funds are subject to some or all of the risks described below.

10 Your financial adviser can help you establish an investment profile that suits your risk level of different investmentsInvestment risk refers to the chance of losing money on a particular investment. If negative returns are generated by an investment fund the unit price of that fund will go down. Whilst this reduces the value of your investment in the fund, it is not an actual loss until you decide to switch or withdraw from that fund. If you choose to switch or withdraw at that particular point in time, the loss will be generally accepted view is that the higher the risk, the higher the potential return. However, taking a high risk does not automatically mean a high return.