The Pendal Multi-Asset Target Return Fund (Fund) is an actively managed multi-asset class portfolio that invests in Australian and international shares,Australian and international listed property securities, Australian and international fixed interest, cash and alternative investments. Investment Return Objective:the Fund aims to provide a return (before fees, costs and taxes) of AustralianCPI^ plus 5% per annum over rolling five year periods. The suggestedinvestment timeframe is 5 years or more.

The Fund does not have investments in companies or issuers directly involved in the following two activities:

• tobacco production; and
• controversial weapons manufacture (such as cluster munitions, landmines, biological or chemical weapons, depleted uranium weapons, blinding laser weapons, incendiary weapons, and/or non-detectable fragments).

The Fund also does not have investments in companies or issuers directly involved in the following activities, where such activities account for 10% or more of a company’s total revenue:

• the production of alcohol;
• manufacture or provision of gaming facilities;
• manufacture of non-controversial weapons or armaments;
• manufacture or distribution of pornography;
• direct mining of uranium for the purpose of weapons manufacturing; and
• extraction of thermal coal and oil sands production.

Sustainability practicesWe actively seek investments in industries and companies assessed as demonstrating and/or offering leading environmental and social practices, products or services. 

Leading IndustriesIndustries offering products and services that provide a direct benefit to social and/or environmental outcomes such as: 

• Environmental management or remediation
• Environmental technologies
• Energy efficiency and renewable energy
• Low-impact products or products that reduce ecological footprint
• Sustainable buildings and property development
• Sustainable land use and food production
• Improved health and community wellbeing

The sustainable and ethical investment practices outlined above are currently incorporated into the Australian and international shares, Australian and international fixed interest and part of the Alternative investments components of the Fund. All other investments by the Fund are not assessed for sustainable and ethical investment practices.