This fund is fundamentally about providing smooth returns across most market conditions. The benchmark will provide a lumpier ride, and this may not match an investors risk and volatility appetite. The second key difference is that the fund targets an income “return” of 4% p.a. There is not a growth target, but the fund will benefit from an uplift in asset values. Equally if asset values fall then the income will provide a cushion to protect against significant falls….read more