Shaw Managed Accounts (SMA)

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Shaw Managed Accounts are a sophisticated investment and reporting platform incorporating advanced features to assist in the management of your overall investment strategy and portfolio.

Shaw Managed Accounts offer investors exposure to a registered managed investment scheme also known as the Separately Managed Accounts. Each investor has a separate “account” to which their investments are allocated. Your account can be constructed by using a range of available investment strategies (referred to as Model Portfolios) that you can select from the investment menu together, with your Shaw and Partners adviser.

Once you decide which Model Portfolios are best suited to your investment needs and objectives, Shaw and Partners will purchase securities to be included in your account so that it reflects the Model Portfolio, or a combination of Model Portfolios. The Model Portfolios are managed in a disciplined and consistent manner; overseen by a dedicated team of investment professionals with many years of experience in securities markets.

With Shaw Managed Accounts, not only are you the beneficial owner of the portfolio (and shares), you will also enjoy the ownership benefits (such as dividends and franking credits) and have the ability to see the exact make up and market value of the portfolio at any time, via our online service.

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Shaw Managed Accounts are positioned between Individually Managed Portfolios and Managed Funds. They offer increased levels of control and transparency, agility and tax optimisation.

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Benefits

Benefits of Shaw Managed Accounts

Shaw Managed Accounts have a number of potential benefits, depending on your goals and financial circumstances.

Some clients are drawn to the transparency and control of the platform, while others choose them for their low trading costs and the ability to leave the investment decisions to the professionals.

Professionally managed

A dedicated team of investment professionals actively manage the portfolio on an ongoing basis.

This includes undertaking research in investment markets, monitoring exposures and the liquidity of various positions, in addition to buying and selling securities that best meet the objectives of the Model Portfolio.

Lower trading costs

Shaw Managed Accounts offer lower trading costs due to the wholesale execution structure of the investment management process. This can make a significant difference to performance and returns for smaller investable funds.

When an investor portfolio requires rebalancing, all trades in a security are first netted across all investor holdings sharing in that change. A single net trade is sent to market and subsequent brokerage costs are shared across all participating investors.

Trades are then executed at wholesale rates, giving you significantly lower brokerage costs.

Beneficial ownership

You are the beneficial owner of your investments, which means you receive any dividends and franking credits from the underlying securities that make up your portfolio. In addition, your investments are held by a regulated trustee on your behalf.

Flexibility

You can combine a number of Model Portfolios in any proportion you wish. In addition, you have the option of adjusting your portfolio, for in specie transfers of existing holdings or blocking the portfolio manager from selling certain parcels of shares.

You also have the ability to substitute stocks to meet specific criteria, such as ethical or environmental considerations.

No inherited liability

In the Shaw Managed Accounts structure, shares are owned by you so you do not inherit any gains from trades that benefited other investors.

This differs from Managed Funds which pool their assets in a unitised trust and as trades occur in the fund, gains or losses are accumulated during the year.

In the Managed Fund structure, you can be responsible for an “embedded capital gain” which is a tax liability you inherit based on previous trades by the Fund Manager, even if your units have not increased in value.

Safe Custody

The safe custody of your investments is essential for your peace of mind. We partner with some of the world’s most reputable financial institutions to provide the security you expect. Domestic securities are held with HSBC in Australia.

Reduced tax administration

Investing directly in the share market involves paperwork. Contract notes, tax administration, corporate actions and share price monitoring are just the beginning.

With Shaw Managed Accounts we take care of the administration including: keeping tax records, crediting dividends and maintaining all records and transactions for your tax returns.

Tax optimisation

Shaw Managed Accounts optimise your tax outcome by allowing you to maximise capital gains, manually select share parcels, switch between investment strategies and use a “what if” tool to assess the capital gain tax impact of any proposed transactions.

Dividend reinvestment

When setting up your account you can choose to either take dividends as cash or to reinvest them into your portfolio.

If you elect to reinvest dividends, additional shares will be purchased on your behalf and added to your portfolio.

Performance monitoring

A team of investment professionals regularly monitor the performance of the portfolio against its objectives and provide detailed portfolio analytics to you on a monthly basis.

Online reporting tools

Shaw and Partners gives you online access to your portfolio details with full visibility of the securities you own.

You are able to monitor the daily performance of your portfolio and view cash balance or trading activities at any time.

The Investment Options

At Shaw and Partners, we understand that your investment needs and decisions may vary depending on your stage of life and attitude towards risk. We therefore offer our clients 12 different portfolio strategies designed across a range of asset classes and investment risk profiles.

Asset Class Portfolio Options

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Investment Objective	The model invests in a portfolio of ASX listed debt and shorter dated hybrid securities, debt based ETFs and debt specialist managed funds. These products offer potential diversification benefits to both Australian equities and cash or term deposits. The model’s return will be generated from a combination of interest payments and capital growth (realised and unrealised) from an actively managed portfolio strategy. The Shaw Debt Income Portfolio seeks to provide investors with a predictable level of income whilst minimising risk to capital.
Investment strategy and approach	The model manager aims to achieve the investment objectives via a qualitative and quantitative investment process. Key criteria and areas of focus are: Credit quality of the issuer Sector/Industry Call date and final maturity details Structure of instrument Timing and composition of cash flows Relative valuation of sector as a whole and between relevant securities, including the inclusion of new issues. Liquidity and potential changes in liquidity The portfolio will be diversified across the above criteria. A key focus of the portfolio will be the mix of fixed and floating rate exposure in order to meet the portfolios’ objectives. The portfolio will be monitored against the manager’s expectations of equity returns, credit market implied volatilities and underlying interest rates in order to ensure it is invested across a range of market cycles to meet its return objective, while adhering to the risk tolerances set. The model manager has access to new issues of listed debt securities and is able to include these in the portfolio as it deems appropriate.
Designed for investor who	Seek a sustainable income stream over a 3 year + time frame, with a lower risk of loss than equities, and a higher rate of return than cash like investments. Focus on minimising risk to capital and low volatility of returns.
Benchmark index	RBA Cash rate + 1.5%
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Debt and hybrid securities 70% – 100% Cash 0% – 100%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 0.33% p.a. Performance Fee Nil

Investment Objective	The model aims to invest in a portfolio of ASX listed debt and preference securities that offer diversification benefits to both Australian equities and cash or term deposits. The model’s return will be generated from a combination of cash (interest payments and dividends), franking credits and capital growth (realised and unrealised) from an actively managed portfolio strategy. The Shaw Hybrid Income Portfolio seeks to provide investors with a predictable level of income whilst minimising risk to capital.
Investment strategy and approach	The model manager aims to achieve the investment objectives via a qualitative and quantitative investment process. Key criteria and areas of focus are: Credit quality of the issuer Sector/Industry Call date, conversion dates and final maturity details Structure of instrument Timing and composition of cash flows Relative valuation of sector as a whole and between relevant securities, including the inclusion of new issues. Liquidity and potential changes in liquidity The portfolio will be diversified across the above criteria. The portfolio will be monitored against the manager’s expectations of equity returns, credit market implied volatilities and underlying interest rates in order to ensure it is invested across a range of market cycles to meet its return objective, while adhering to the risk tolerances set. The model manager has access to new issues of debt and preference securities and is able to include in the portfolio as it deems appropriate. The model manager’s institutional market experience with this asset class brings specialist knowledge to pricing and liquidity. Active management of the portfolio will take advantage of relative mispricing between securities and the asset class as a whole, while taking into consideration the impact of any micro and macroeconomic factors. The ability to lock in gains will be a key feature of the strategy in achieving its objectives.
Designed for investor who	Seek a sustainable income stream (inclusive of franking credits) over a 3 year + time frame, with a lower risk of loss than equities, and a higher rate of return than cash like investments.
Benchmark index	RBA Cash rate + 3% (inclusive of franking credits)
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Listed Australian hybrid securities 0% – 100% Listed debt securities 0% – 80% Cash 0% – 20%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 0.0% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Australian Equity Income (Large Cap) Portfolio is to provide a regular and sustainable fully franked dividend income stream over the medium term (3–5 years). It achieves this by investing in a portfolio of large-cap Australian listed companies and managed funds. Although the focus is yield generation, the investment process and risk management aims to ensure that risk to capital is minimised with the goal of some capital appreciation via both longer term price appreciation and actively locking in gains as deemed appropriate to the objectives.
Investment strategy and approach	The investment process combines quantitative and qualitative criteria and analysis to identify stocks and strategies which have a relatively high dividend paying capability, and are likely to produce above average earnings growth with positive valuation characteristics. The portfolio construction is based on macro-economic and thematic views of Shaw and Partners’ Research in order to best meet the risk and return objectives of the investment strategy. Continual assessment and risk management of bottom-up and top-down parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives. The investment process takes into consideration the risk around companies growing/maintaining their dividend characteristics with the result that this portfolio aims for a higher dividend yield than that of the broader market. The portfolio managers however manage the capital value of the portfolio to minimise the risk of the portfolio failing to achieve its risk and return objectives.
Designed for investor who	Seek franked dividend income as the primary objective from an Australian equities portfolio and some capital appreciation Have an investment horizon of three years or more Accept the risk of share price volatility.
Benchmark index	S&P/ASX 100 Accumulation Index
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Australian Equities 80% – 100% Cash 0% – 20%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 0.21% p.a. Performance Fee Nil

Investment Objective	The objective of the Shaw Australian Equity (Large Cap) Core Portfolio is to provide regular income, capital appreciation and out performance of the S&P/ASX 100 Accumulation Index over the medium term (3–5 years) through investment in large cap shares listed in Australia.
Investment strategy and approach	Shaw and Partners’ Investment Process combines quantitative and qualitative criteria and analysis to identify stocks likely to produce above average earnings growth with positive valuation characteristics. The portfolio construction is based on macro-economic and thematic views of Shaw and Partners’ Research in order to best meet the risk and return objectives of the investment strategy. Continual assessment and risk management of bottom-up and top-down parameters is a core component of the Model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives. The Investment Process takes into consideration the yield and capital growth objectives of the portfolio and ensures that both are managed simultaneously to ensure that the portfolio is not overly skewed to any style or thematic that would increase the risk of the portfolio failing to meet its objectives.
Designed for investor who	Seek exposure to an Australian share portfolio that provides a franked income stream and capital appreciation; Have an investment horizon of three years or more Accept the risk of share price volatility.
Benchmark index	S&P/ASX 100 Accumulation Index
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Australian Equities 90% – 100% Cash 0% – 10%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 0.21% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Australian Equity (Large Cap) Growth Portfolio is to provide a level of capital appreciation over the longer term (5–7 years). The portfolio is tilted towards stocks that have superior earning growth capacity and focus is on the total return of each stock rather than the dividend income as the prime objective.
Investment strategy and approach	The investment process combines quantitative and qualitative criteria and analysis to identify stocks which have a favourable outlook are likely to produce above average earnings growth with positive valuation characteristics. The portfolio construction is based on macro-economic and thematic views of Shaw and Partners’ Research in order to best meet the risk and return objectives of the investment strategy. Continual assessment and risk management of bottom-up and top-down parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives. The investment process takes into consideration the primary objective of capital growth. Although the portfolio will generate income, income focused stocks will be included if their total return criteria fits the portfolios objective. Volatility of returns will be managed with the objective of a lower standard deviation of returns than the benchmark index.
Designed for investor who	Seek long term capital growth as the primary objective from an Australian equities portfolio and some income Those investors in the accumulation phase Have an investment horizon of five years or more Accept the risk of share price volatility
Benchmark index	S&P/ASX 100 Accumulation Index
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	5 Years
Asset allocation ranges	Australian Equities 80% – 100% Cash 0% – 20%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 0.00% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Australian Equity (Small and Mid-Cap) Growth Portfolio is to provide a level of capital appreciation over the longer term (5–7 years). The portfolio is tilted towards small and mid-sized stocks that have superior earning growth capacity and focus is on the total return of each stock rather than the dividend income as the prime objective.
Investment strategy and approach	The investment process combines quantitative and qualitative criteria and analysis to identify stocks which have a relatively high dividend paying capability are likely to produce above average earnings growth with positive valuation characteristics. The portfolio construction is based on macro-economic and thematic views of Shaw and Partners’ Research in order to best meet the risk and return objectives of the investment strategy. Continual assessment and risk management of bottom-up and top-down parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives. The investment process takes into consideration the primary objective of capital growth. It aims to invest in companies where the share price does not fully reflect the potential value of the underlying business of the company.
Designed for investor who	Seek long term capital growth as the primary objective from and Australian equities portfolio and some income Those investors in the accumulation phase Have an investment horizon of five years or more Accept the risk of share price volatility
Benchmark index	S&P/ASX Small Ordinaries Accumulation Index
Indicative number of stocks	10 - 30
Minimum suggested investment time frame	5 Years
Asset allocation ranges	Australian Equities 80% – 100% Cash 0% – 20%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 1.15% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Liquid Alternatives Portfolio is to provide regular and sustainable income and capital growth over the medium term (3–5 years) whilst minimising risk to capital. It achieves this by investing in a diversified portfolio of asset classes and strategies that have low correlation with traditional equity and debt asset classes. This portfolio is designed to act as a volatility dampener and diversifier to an existing portfolio of liquid assets.
Investment strategy and approach	The portfolio is a blend of strategies and investments that can be expected to have a lower correlation to equities, bonds and other traditional beta style investments. The portfolio was designed primarily to lower the downside variance of an income, balanced or growth portfolio that uses a mixture of bonds and equities to derive a given long term return. The strategies and managers chosen for the portfolio have a demonstrable track record of minimising risk to capital during downturns and when blended in the appropriate weights can significantly reduce the downside potential of a bond and equity portfolio. Asset classes and strategies may include Global Macro, Managed Futures (Trends), Long/Short and Market Neutral, Commodities and Dynamic Markets. Only managers/investments that have daily pricing and liquidity can be considered. Continual assessment and research into alternative strategies and return streams is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives in all market conditions. The investment process takes into consideration the risk around asset classes and the underlying securities maintaining their growth characteristics whilst ensuring that the risk of a drawdown is adequately managed. The portfolio managers however manage the capital value of the portfolio to minimise the risk of the portfolio failing to achieve its risk and return objectives.
Designed for investor who	Investors seeking sustainable and lower volatility returns (mix of income and capital growth) as the primary objective that will be less impacted by large moves in underlying asset prices in traditional investments such as Equities and Bonds. As a standalone investment option, suitable for investors looking for a lower risk/lower return exposure that is not correlated with traditional asset class returns. Blended with a traditional income, balanced or growth portfolio to reduce drawdown and smooth returns. Investors should have an investment horizon of three years or more, and Accept the risk of volatility in their investment return.
Benchmark index	RBA Cash rate +3%
Indicative number of stocks	3 - 20
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Liquid alternative assets 80%–100% Cash 0%–20%
Minimum model investment	$5,000
Management fee	Investment Fee Nil Indirect Cost Ratio 1.51% p.a. Performance Fee Nil

Investment Objective	The portfolio seeks long term growth of capital by investing in an actively managed concentrated portfolio of listed securities considered by the portfolio manager to be of very high quality issued by companies with predictable growth.
Investment strategy and approach	The portfolio manager seeks to achieve the investment objective by composing a portfolio of highly liquid, listed securities of quality companies from the MSCI World universe. These companies are chosen for their specific growth and business characteristics, earnings development, financial position and experienced management.
Designed for investor who	Are considered longer term investors (5 years +) Seek exposure to a concentrated portfolio of high quality global equities with superior return potential with generally low turnover
Benchmark index	MSCI World Index
Indicative number of stocks	25 – 35
Minimum suggested investment time frame	5 Years
Asset allocation ranges	International Equities 90%–100% Cash 0%–10%
Minimum model investment	$65,000
Management fee	Investment Fee 0.55% p.a. Indirect Cost Ratio 0.00% p.a. Performance Fee Nil

Investment Objective	To provide a return exceeding the MSCI US Mid Cap Growth TR index over rolling 10-year periods.
Investment strategy and approach	The US Future Leaders Model is a concentrated US stock portfolio, designed to provide direct equity exposure to rapidly growing businesses with significant opportunity to develop into future mid- or large-cap companies, primarily via organic growth. Stocks are selected through a proprietary in-house systematic framework. The team’s objective is to identify the highest quality, fastest growing companies and trade them at the right time by adhering to a structured investment process. By identifying these Future Leaders early, they believe the portfolio will afford investors with the opportunity to earn superior long-term returns. Portfolio construction will be rooted in our fundamentally based investment philosophy and process – with a focus on the four primary growth sectors of the economy (technology, healthcare, consumer discretionary, and financial services). Investment Strategy and Approach The US Growth Equity team employs a rigorous, disciplined, and repeatable process that is a combination of both qualitative and quantitative inputs. The basis of the process starts with industry centric research performed by the sector experts on the team. The investment framework is defined by a disciplined investment process consisting of several checklists. This ensures that the investment process used by the team is consistent and repeatable. The investment process has four key inputs that determine a company’s overall ranking and can be applied across all sectors to facilitate stock selection: Company Quality Grade Stock Technical Timing Grade Short Term Earnings Growth Grade Long Term Earnings Growth Grade The team’s investment framework is the basis for portfolio construction. This regimented process helps to consistently find and own the best quality companies. Value is added through active management by identifying the best companies in the growth universe, then owning (or adding to) them when they are timely and selling (or trimming) them when they are not.
Designed for investor who	Are interested in emerging leader growth stocks; Are sophisticated investors with long-term investment horizons (5+ years); Have a high tolerance for risk; and Seek capital appreciation.
Benchmark index	MSCI US Mid Cap Growth TR
Indicative number of stocks	20 – 35
Minimum suggested investment time frame	10 Years
Asset allocation ranges	International Equities 85%–99% Cash 1%–15%
Minimum model investment	$100,000
Management fee	Investment Fee 0.55% p.a. Indirect Cost Ratio 0.00% p.a. Performance Fee Nil

Goals Based Portfolio Options

Investment Objective	The primary objective of the Shaw Income Goal Portfolio is to provide a regular and sustainable income stream over the medium term (3–5 years) whilst minimising risk to capital. It achieves this by investing in a diversified portfolio of asset classes and strategies. The strategy is designed to have a medium level of risk.
Investment strategy and approach	The investment process combines quantitative and qualitative criteria and analysis to identify asset classes, markets, securities and strategies which have a focus toward producing sustainable income as opposed to capital growth. The portfolio construction is based on macro-economic and thematic views of Shaw’s Research in order to best meet the risk and return objectives of the investment strategy. The portfolio is a blend of the Shaw and Partners SMA strategic portfolios based on their suitability to the income objective. Each goals based portfolio has effectively its own asset and risk allocation managed by the Shaw Portfolio Strategies Team. Asset classes and strategies may include cash, Australian debt securities, and Australian equities including property securities, international equities and alternative strategies (ETF and or managed funds). Continual assessment and risk management of bottom-up and top-down parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives in all market conditions. The investment process takes into consideration the risk around asset classes and the underlying securities, maintaining their income characteristics whilst ensuring that the risk of a drawdown is adequately managed. The Portfolio Managers however manage the capital value of the portfolio to minimise the risk of the portfolio failing to achieve its risk and return objectives.
Designed for investor who	Seek income as the primary objective and some capital appreciation from a broad range of Australian and Global asset classes and strategies Have an investment horizon of three years or more Accept the risk of volatility in their investment return.
Benchmark index	RBA Cash rate + 3% (Gross Income and Total Return)
Indicative number of stocks	60 - 140
Minimum suggested investment time frame	3 Years
Asset allocation ranges	Shaw Debt Securities Income 0%–30% Shaw Hybrid Income 0%–35% Shaw Australian Equity Income (Large Cap) 0%–60% Shaw International Equity 0%–40% Liquid Alternatives 0%–40% Cash 0%–100%
Minimum model investment	$100,000
Management fee	Investment Fee 0.22% p.a. Indirect Cost Ratio 0.34% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Balanced Portfolio is to provide a regular and sustainable income stream and capital growth over the medium term (4–6 years), together with some capital growth whilst minimising risk to capital. It achieves this by investing in a diversified portfolio of asset classes and strategies. The strategy is designed to have a moderate level of risk.
Investment strategy and approach	Investment Strategy and Approach The investment process combines quantitative and qualitative criteria and analysis to identify asset classes, markets, securities and strategies which have a focus toward producing sustainable income and capital growth. The portfolio construction is based on macro-economic and thematic views of Shaw’s Research in order to best meet the risk and return objectives of the investment strategy. The portfolio is a blend of the Shaw and Partners SMA strategic portfolios based on their suitability to the Balanced portfolio objective. Each goals based portfolio has effectively its own asset and risk allocation managed by the Shaw Portfolio Strategies Team. Asset classes and strategies may include cash, Australian debt securities, and Australian equities including property securities, international equities and alternative strategies (accessed via ASX listed ETFs and or managed funds). Continual assessment and risk management of bottom-up and topdown parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives in all market conditions. The investment process takes into consideration the risk around asset classes and the underlying securities maintaining their income and growth characteristics whilst ensuring that the risk of a drawdown is adequately managed. The Portfolio Managers however manage the capital value of the portfolio to minimise the risk of the portfolio failing to achieve its risk and return objectives.
Designed for investor who	Seek a balance of income and capital growth as the primary objective from a broad range of Australian and global asset classes and strategies Have an investment horizon of four years or more Accept a moderate risk of volatility in their investment return.
Benchmark index	RBA Cash rate + 4% (Gross Income and Total Return)
Indicative number of stocks	60 - 140
Minimum suggested investment time frame	4 Years
Asset allocation ranges	Shaw Debt Securities Income 0%–50% Shaw Hybrid Income 0%–50% Shaw Australian Equity Core (Large Cap) 0%–60% Shaw Australian Equity Growth (Small and Mid-Cap) 0%–30% Shaw International Equity 0%–40% Liquid Alternatives 0%–40% Cash 0%–100%
Minimum model investment	$100,000
Management fee	Investment Fee 0.22% p.a. Indirect Cost Ratio 0.44% p.a. Performance Fee Nil

Investment Objective	The primary objective of the Shaw Growth Goal Portfolio is to provide regular and sustainable capital growth over the longer term (5–7 years). It achieves this by investing in a diversified portfolio of asset classes and strategies. The strategy is designed to have a high level of risk. It achieves this by investing in a diversified portfolio of asset classes and strategies. The strategy is designed to have a high level of risk.
Investment strategy and approach	The investment process combines quantitative and qualitative criteria and analysis to identify asset classes, markets, securities and strategies which have a focus toward producing capital growth over and above income. The portfolio construction is based on macro-economic and thematic views of Shaw’s Research in order to best meet the risk and return objectives of the investment strategy. The portfolio is a blend of the Shaw and Partners SMA strategic portfolios based on their suitability to the growth objective. Each goals based portfolio has effectively its own asset and risk allocation managed by the Shaw Portfolio Strategies Team. Asset classes and strategies may include cash, Australian debt securities, and Australian equities including property securities, international equities and alternative strategies (ETF and or managed funds). Continual assessment and risk management of bottom-up and top-down parameters is a core component of the model. Changes to the portfolio will be made as deemed appropriate by the investment team in order for the portfolio to have a high probability of meeting its objectives in all market conditions. The investment process takes into consideration the risk around asset classes and the underlying securities maintaining their growth characteristics whilst ensuring that the risk of a drawdown is adequately managed. The Portfolio Managers however manage the capital value of the portfolio to minimise the risk of the portfolio failing to achieve its risk and return objectives.
Designed for investor who
Benchmark index	RBA Cash rate + 5%
Indicative number of stocks	60 - 140
Minimum suggested investment time frame	5 Years
Asset allocation ranges	Shaw Australian Equity Growth (Large Cap) 0%–80% Shaw Australian Equity Growth (Small and Mid-Cap) 0%–40% Shaw International Equity 0%–40% Liquid Alternatives 0%–40% Cash 0%–100%
Minimum model investment	$100,000
Management fee	Investment Fee 0.22% p.a. Indirect Cost Ratio 0.36% p.a. Performance Fee Nil