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07/05/2019

From Raiz Ceo, George Lucas 

US creates 263,000 jobs in April

Last week saw the release of the latest US employment report, published on Friday. The report was strong, with non-farm payrolls increasing by 263,000 in April, above consensus expectations, while the unemployment rate fell to its lowest level in nearly 50 years.

However, wage inflation was a bit weaker than expected, hours worked edged down, and the unemployment rate only decreased owing to a massive fall in the labour force. That’s probably why yields on Treasury bonds dropped and stock market rallied.

Even so, the report still suggests that the underlying fundamentals of the US economy remain solid. Confirming the data, first-quarter gross domestic product expanded by 3.2 per cent, the US Bureau of Economic Analysis said in its initial read of the economy for Q1.

US Federal Reserve hold interest rates steady

Still in the US, although there was no policy change after the latest Federal Open Market Committee (FOMC) meeting, investors appear to have been caught off guard initially by the reduction in the interest on excess reserves (IOER) rate and subsequently – and more importantly – by Fed Chair Jerome Powell downplaying recent weakness in inflation.

The Fed might be reluctant to cut rates just because of the recent weakness in inflation, particularly given that labour costs could pick up. This is a similar issue that the RBA is facing here in Australia, which will be heightened if Labor wins at the upcoming federal election.

China’s economy loses more momentum

In Asia, China’s onshore stock markets brushed off the pull-back in the country’s PMIs released last week, but the data ultimately supports a view of a slowing Chinese economy.

Chinese equities have surged by more than 30 per cent between the turn of the year and mid-April, driven in part by optimism about earnings. According to Bloomberg, analysts anticipate a 25 per cent jump in corporate earnings in the Shanghai market in the next twelve months, which would require a very strong rebound in the economy.

However, this is not supported by the recent PMI data and the Shanghai and Shenzhen markets have actually started to falter since 19 April. They are down by 6 per cent and 8 per cent, respectively, from their peaks, despite ticking up last Tuesday.

What is also surprising is the lack of reaction to those drops elsewhere. The S&P 500 has risen to a record high, and European and Japanese indices have edged up.

China is large enough that equities there rarely head in the opposite direction to those elsewhere for long. Foreign investors may initially ignore falls in China as signs of a “healthy” correction in a overbought market, but will probably eventually react.

US-China trade talks set to resume

Looking ahead, trade negotiations with China are due to resume in Washington this week, with a deal said to be close. According to reports, key points that remain at issue include how to police any deal, and whether existing tariffs will be removed or stay in place.  However, a war of words between the US President and China have thrown some doubt over whether this meeting will now take place.

This next round to negotiations follows talks last month in Beijing that US Treasury Secretary Steven Mnuchin labelled “productive”.

Important Note: The information on this website is provided for the use of licensed financial advisers only. The information is general advice and does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this website.

Investors only: The information in this Document is confidential it must not be reproduced, distributed or disclosed to any other person unless it is part of their statement of advice. The information may be based on assumptions or market conditions and may change without notice. This may impact the accuracy of the information. In no circumstances is the information in this Document to be used by, or presented to, a person for the purposes of making a decision about a financial product or class of products.

General advice warning: The information contained in this Document is general information only. It has been prepared without taking account any potential investors’ financial situation, objectives or needs and the appropriateness of this information needs to be considered in that context. No responsibility or liability is accepted by Instreet or any third party who has contributed to this Document for any of the information contained herein or for any action taken by you or any of your officers, employees, agents or associates.

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1. These Participation Terms apply to this Dan Murphy’s In-Store Raiz Rewards Promotion along with the Raiz Invest Australia Limited Website Terms of Use (Agreement). These Participation Terms must be read alongside, and form part of the Agreement between you and Raiz Invest Australia Limited (ABN 26 604 402 815), and you must comply with both. Terms capitalised but not defined in these Promotion Terms have the meaning given in the Raiz Invest Australia Limited Website Terms of Use.
2. The Dan Murphy’s In-Store Raiz Rewards Promotion is being offered by the following Third Party Retailer WOOLWORTHS LTD 88 000 014 675 (Third Party Supplier). Details of the Promotion are as follows:
3. 1. Promotion Term: This Raiz Rewards Promotion runs from 01/05/2019 until 07/05/2019. To be eligible to participate, you must make an Eligible Purchase between 12:00AM AEST on the Start Date and 11.59PM AEST on the End Date of the Promotion Term. Your eligibility to participate will be determined by reviewing the date of the transaction, as it appears in your relevant card or account statement (as notified to Raiz Invest). The card you link must be one that is already linked as a Spending Account in the Raiz app. Note that there could be circumstances where the Promotion Term is shortened, extended or otherwise modified. Please see the Agreement for details.
   2. Customer Reward: The Third Party Retailer will contribute an amount of money for investment into your Raiz Invest Account equal to 2.8% of the purchase price of Eligible Products of min. $200 (inclusive of GST but not any delivery or Administration fees) or more when paid in full.
   3. Eligible Purchase:
      1. Eligible products: All products, excluding gift cards and tobacco purchased and paid for in full (not including any returned items or cancelled orders).
      2. Participating stores: Eligible Purchase can be made only by:
         1. clicking on the “LINK CARD HERE” link displayed with the Third Party Retailer’s logo on the Raiz Rewards Page of the Raiz App and providing the last 4 digits of the card used; and
         2. then proceeding to make a purchase in a Dan Murphy’s store.
      3. The purchase and purchase amount must be reported to Raiz by The Retailer.

      No other purchases from the Third Party Retailer or the linked site will be considered Eligible Purchases for the purposes of this Raiz Rewards Promotion.

   4. Payment of Customer Reward:
      1. Whilst it is intended that Customer Rewards will be paid by the Third-Party Retailer to Raiz on your behalf within approximately 30 days from the date the Eligible Purchase is processed, delays may occur (eg public holidays, technical issues or other reasons).
      2. The customer reward will not be calculated to include any delivery, handling or administration fees or charges that the Third Party Retailer includes on any Eligible Purchases.
      3. If reward has not been received within 30 days, users must email the customer support team at support@raizinvest.com.au with a copy of the receipt including the date, sale value, order ID and proof of card used (last 4 digits). Users must send this through within 60 days from date of purchase in order for the reward to still be eligible.

Financial stress is on the rise and has become an inescapable part of our modern society. So how do we tackle the burden of increasing costs and still find an emotional balance and savings for a secure future?

I have witnessed a direct correlation between practicing Yoga and its ability to reduce the fears, attachments and avoidance that shadow our relationship with money. Yoga invites us to move and breath in a conscious way.

Many may have been completely unaware of hamstring tension until they found themselves in a Downward Facing Dog. Our body and breath teach us to engage with things we find uncomfortable. With that awareness money can become a profound teacher.

Taking a look at your credit card or bank statements, or thinking about your upcoming bills can reveal insightful patterns of spending that may also be exacerbating your financial woes.

Facing an unexpected $400  bill can be difficult but if we are able to approach this area of tension as you would your tight hamstrings- breathe, observe, identify the issue and then support yourself accordingly you may find yourself a little less overwhelmed.

Yoga encourages us to view stress as a challenge to be overcome instead of a drama that can crush us.

So, the next time you find yourself in state of financial overwhelm take a mindful breath and give yourself an opportunity to engage in a healthy way to find balance.

Author: Jessie-Anne is a yin yoga/meditation teacher and writer based in Sydney, Australia. 

Don’t have the Raiz App?

Download it for free in the App store or the Webapp below:

Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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By Alison Banney from Finder.com.au

Have you considered dabbling in the share market, but there are a few thoughts you can’t get out of your head telling you that you shouldn’t? Maybe you think you don’t have enough money, or perhaps you keep hearing that you’re too young to be investing in shares (shares are for old people, right?).

Well, you’ll be glad to learn that most of these myths surrounding investing are just that – myths. Here are five common misconceptions that you shouldn’t let deter you from getting cracking in the share market.

 1. “I don’t have enough money.”

A lot of people think you can only invest in the share market if you’re loaded. This is far from true, and you can actually start investing in the share market for as little as $5.

Most online share trading brokers require you to invest at least $500 per trade on the Australian Securities Exchange (ASX), which compared to a property deposit, is a really low entry point. But if you use a micro-investment app like Raiz, you can get started with even less.

2. “It can wait until I’m older.”

The thing with investing in the share market is that it’s a long-term play. It’s not a way to get rich overnight. The longer you’re invested, the more opportunity you have for your portfolio to grow in value.

A common expression in the industry is that it’s all about time in the market, not timing the market. So rather than waiting until you’re older and trying to pick a winning stock, it’s a much better strategy to start while you’re young, invest in a well-diversified portfolio and let the market do its thing.

3. “I don’t know enough about the share market.”

The good news here is that you don’t need to know too much about the share market to start investing. You might have memories of your parents researching the performance of different stocks in the weekend newspaper and carefully handpicking which ones to invest in. But this isn’t the case anymore.

Thanks to products called exchange traded funds (ETFs), you don’t have to worry about handpicking single stocks to buy. ETFs track the performance of a whole bunch of underlying shares, giving you the chance to access a large bundle of companies in one single investment that’s managed on your behalf.

4. “It’s too risky for me while I’m young.”

It’s easy to understand why a lot of young people think share trading is too risky. You’re right, shares are a high-risk asset. But the funny thing is, share trading actually becomes more and more risky the older you get.

When you’re young, you have your whole working life to ride out any volatility in the share market. So even if there’s a dip or a bigger correction in the market and your shares fall in value, you have plenty of time for them to build themselves back up again. However, if you’re older and closer to retirement, you need to be focused on protecting your nest egg. If you’re in your 60s and there’s a crash in the market, you might not have enough time left to build your portfolio back up again.

5. “I should be saving for a house deposit instead”

There’s no reason you can’t invest in shares and save for a house deposit at the same time. You don’t need to put your entire life savings into the share market, but putting a percentage of your savings in shares while the rest stays tucked away in a high interest savings account could be a good strategy to build wealth.

It’s also good to remember that shares are generally considered a liquid asset, meaning they can easily be sold if you want to cash out, and you won’t be stuck holding them while you wait for an interested buyer. So if you do want to sell you shares when you’re ready to buy a home, it’s simple and quick to do so.

Don’t have the Raiz App?

Download it for free in the App store or the Webapp below:

Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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Today we released the results of our new research, which found that many Australian consumers are blissfully unaware of what interest rate they earn on their bank savings according.

Our research found that 60 per cent of Aussies claim to have some level of knowledge when it comes to investing money, yet 85 per cent are unaware of the interest rate on their savings account. Additional findings show consumers are not clear about the safest investment options for their money.

The survey of 1,000 Australians was commissioned to identify consumers basic understanding of savings and investment options also looked at how recent events such as the Royal Banking Commission and the declining property market were impacting their perceptions of where to invest.

Cash is king, but a lot of us don’t know it

Our survey revealed that 53 per cent of Australians are unaware that cash is the safest place to invest money. Many believe property (22 per cent), fixed income (20 per cent) and investing in equities (10 per cent) are a more secure option for their savings.

Many Australians are completely unaware of the best options to protect and grow their income and  think they’re getting 2-3 per cent on their savings accounts when, depending on the bank, it’s often less than 1 per cent.

This is due to the way saving accounts are advertised with introductory offers.  At this interest rate, if Australians are using their savings accounts to save money, with inflation, the opposite is happening and they’re actually going backwards.. That’s why it’s important to ensure we’re educating consumers now on how to look after their money if they’re to become more financially stable in the future.

Women shying away from investment risk

Our research highlighted a sense of delusion when it comes to financial literacy, something which is even more recognisable amongst men. There’s no surprise then that the research found men have more diverse investment portfolios, with  38 per cent of men currently investing in the equity market, compared to  22 per cent of women.

The research shows us that women tend to be more risk averse. This is not a surprise as it’s also something we see at Raiz. For example, in the Raiz app, we have six portfolios for users to select from when investing their money. More men opt for the aggressive portfolios than women, who tend to select the more conservative options. This is not evidence that men are more financially literate than women. If anything, it indicates that men are taking more investment risks they don’t fully understand.

Distrust with the big banks continues to grow

The fallout of the recent Royal Banking Commission has certainly had its impact on confidence levels. Almost half (47 per cent) say they are less inclined to invest their money with the Big Four following the Hayne report.

For a while now, Australians have felt less inclined to invest with the big banks. There was an ethical line that many felt was crossed and now people are looking at alternative ways to invest their money.

More than half of those who took part in the research said they will now look to diversify their investments. This is where we think platforms such as Raiz offer support, especially for those wanting to get practical hands-on learning too.

Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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09/04/2019

From Raiz Ceo, George Lucas 

US economy adds 196,000 jobs in March

Starting in the US, last week saw the release of the latest employment report that provided further evidence that trend employment growth is slowing there.

Non-farm payrolls increased by 196,000 in March, slightly more than the consensus forecast, but employment growth remained on a downward trend, with the three-month average monthly gain dropping to a 15-month low. The annual growth rate of average hourly earnings fell back to 3.2 per cent, while the unemployment rate was unchanged.

This was not unexpected due to the low unemployment rate indicating that US is pretty much at full employment. Markets would like to see a stabilisation of the average hourly earnings as it reduces the pressure of company margins and therefore profits.

US Fed’s rate-raising days look over

Still in the US and market reaction suggests investors believe the US Federal Reserve ended its tightening cycle in December last year, and that the next move in rates will be down.

That’s reflected in investors substantially revising down their interest rates expectations since the S&P 500 peaked late last year, with fewer than two 25bp rate cuts are currently discounted in the markets.

While the S&P 500 is now back near its peak, economic activity remains subdued both in the US and abroad and this is bound to weigh on earnings of the S&P500 companies, and therefore market direction.

US-China trade talks gain momentum

In Washington, trade talks between the US and China progressed well although details were sparse. Media reports suggested that the two sides have now agreed on specific timelines for implementing a deal, which Trump has hinted may be finalised in the coming weeks.

A deal now appears mostly priced into the markets but the risk of disappointment is rising as US President Donald Trump and China’s Vice Premier Liu He prepare to meet this week. That meeting is apparently to get agreement on key outstanding issues and so risk is now on the downside, especially if a deal is delayed again or does not remove existing tariffs.

Across in the UK, the Brexit saga continues and we will find out mid-week if the EU will agree to delay Brexit beyond 12th April and, if so, for how long.

Australian retail sales soar

At home, the strong 0.8 per cent month-on-month rise in retail sales in February suggests that consumption growth may not have declined further in Q1. However, growth should remain subdued in the rest of 2019 owing to the ongoing housing downturn.

We also got the release of trade data that showed record $4.801 billion trade surplus in February for Australia. The surplus was supported by reduced import values, rather than stronger exports.

Meanwhile, the Reserve Bank of Australia sounded more cautious on Tuesday when it left its policy rate unchanged at 1.50 per cent, including a change in language on the falling house prices in established housing markets.

House prices in Australia’s eight capital cities fell again in March and prices have now dropped by 8.9 per cent since their peak in July 2017, making the current downturn the longest on record.

Important Note: The information on this website is provided for the use of licensed financial advisers only. The information is general advice and does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this website.

Investors only: The information in this Document is confidential it must not be reproduced, distributed or disclosed to any other person unless it is part of their statement of advice. The information may be based on assumptions or market conditions and may change without notice. This may impact the accuracy of the information. In no circumstances is the information in this Document to be used by, or presented to, a person for the purposes of making a decision about a financial product or class of products.

General advice warning: The information contained in this Document is general information only. It has been prepared without taking account any potential investors’ financial situation, objectives or needs and the appropriateness of this information needs to be considered in that context. No responsibility or liability is accepted by Instreet or any third party who has contributed to this Document for any of the information contained herein or for any action taken by you or any of your officers, employees, agents or associates.

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We have improved Raiz Super with some new features to help you contribute more towards your future. For more information on Raiz fees, click here.

What’s new?

Personal Contributions

Make one-off voluntary contributions via the Super home screen at anytime.

Recurring Personal Contributions

Set up recurring voluntary contributions via the Super home screen – daily, weekly or monthly.

Voluntary contributions may be tax deductible – see our blog ‘New rules for Super Contribution’

Reward Contribution

Direct your Raiz Rewards to your Super account with over 180 brand partners paying you forward when you shop online.

Chance to WIN a $250 bonus

From now until the 30th April, every member of Raiz Invest Super will go in the draw to win one of ten $250 bonuses invested into their non-Super Raiz account. To be eligible, simply have an active Raiz Invest Super account (or a rollover request on its way) before 30th April 2019*.

We appreciate your feedback on our product and features so please feel free to contact us via support@raizinvest.com.au or call 1300 754 748.

Thanks for your loyal support,

Your Raiz Team

*T&Cs here

Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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Most Australians find discussions about their Superannuation boring. Do you know how much is in your Super?  Don’t panic, 40% of Australians have no idea how much money they have invested in super.

Interestingly, people who have Super, but aren’t investing in any other assets, tend not to think of themselves as investors.

But if you have Super, then you’re investing. Most superannuation funds do not keep your money only in cash.

Super is like a managed fund, or Raiz, where your money is pooled with other member’s money and invested on your behalf by professional investment managers. The main difference of course being that you can’t access this money until you retire.

But if super has all the characteristics of an investment, then why don’t we engage with it as much as we do with other common investments, such as stocks, property etc?

If you aren’t expecting to retire soon, it can be hard to comprehend the benefits of optimising your super, and perhaps even too dull to think about. Thinking about the ‘future you’ actually activates the same areas of the brain as when we think about other people. While you may know the benefits of helping “future you” now, you are unlikely to feel it.

The mandatory nature of super can also stop us from thinking about super contributions as a conscious investment. Guarantee contribution’s that are payed directly by your employer mean you rarely must make an active decision. This contrasts with what we consider ‘normal’ investments, which are likely to involve more consideration and decision making.

The fact is that super is likely to be one your biggest investments, so knowing where your money is and how much you are paying in fees is crucial in building a solid fund for your retirement.

Due to the power of compounding, if you were paying an extra $150 in fixed costs and insurance due to having more than one superannuation account, for 25 years, at a return rate of 7%, that could be $9,487* you will lose in your retirement due to the extra set of fees.

Raiz Super allows you to easily consolidate your super, with the process only taking as long as 5 minutes. When you sign up for Raiz Super, we will automatically search for any funds and unclaimed or lost super to your name, giving you the option to pick which ones you want to roll into Raiz Super. For more information on Raiz fees, click here.

Paying attention to and treating your super as an important investment can save you a significant amount of money for the future.

* Return estimated for the sake of simplicity as past performance is no indication of future performance – see ASICS managed funds fee calculator to get an estimate on how fees and costs can affect your investment. Return estimate is net of MER. The value is a future value, not a present value.

Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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1. You must have an active Raiz Invest Super account or a rollover request on its way before 30th April 2019. Raiz account holders must have an active valid account as set out in the product disclosure statements found on the website: https://raizinvest.com.au/super/.
2. Entries open Thursday 27^th March 2019 at 11am and closes Tuesday 30^th April 2019 at midnight. You will automatically be in the draw if you have an active Raiz Invest Super account or a rollover request on its way before 30th April 2019.
3. Raiz Invest will select ten winners with a $250.00 credit investment into their active Raiz Investment Account. These ten investments will be selected at Raiz’s discretion. We note that no individual prize exceeds $250.00 and total value of prizes do not exceed $50,000.00.
4. These ten Raiz Account holders will be notified by email when the credit investment is deposited into their Raiz Investment account by Friday 17^th May 2019.
5. The permit number in the format NSW Permit No. LTPM/18/03853.
6. This promotion is in no way sponsored, endorsed or administered by, or associated with any other third party.
7. By entering this promotion, you agree that we may use entries for future marketing purposes in any media or branding.
8. The competition is promoted by Raiz Invest Australia Limited, Level 11/2 Bulletin Place Sydney 2000 NSW, 1300 754 748. ABN 26 604 402 815, who is the Authorised Representative of AFSL 434776. The Raiz product is issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) and promoted by Raiz Invest Australia Limited (ACN 604 402 815). A Product Disclosure Statement dated 19th March 2019 for this product is available on the Raiz website and App. A person should read and consider the Product Disclosure Statement in deciding whether or not to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

NSW Permit No. LTPM/18/03853