10
Which incentive structure do you think is most
appropriate for a manager of a balanced mandate?
1. Market-related benchmark e.g. All Share Index and flat base
fee(50bps)
0%
2. Market-related benchmark e.g. All Share Index, flat base fee
(20bps) and variable performance fee (15% of outperformance)
0%
3. CPI+X% benchmark and flat base fee (50bps)
0%
4. CPI+X% benchmark, flat base fee (20bps) and variable
performance fee (15% of outperformance)
0%
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10
Do you think that traditional life stage models are
appropriate for all members?
1. Yes, life stage models offer an optimal average asset allocation, there is no
cost to the member
0%
2. Yes, even though they are not optimal for all members, they are prudent and
should be used
0%
3. No, life stage models only suit members who plan to buy guaranteed life
products
0%
4. No, life stage models only suit members who plan to invest in living annuity
(ILLA) products
0%
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10
Do you think that it is worthwhile paying for equity
protection (derivative protection) in your portfolios?
1. Yes, all of the time
0%
2. Yes, but only when members are approaching
retirement
0%
3. Yes, but only in highly volatile markets
0%
4. No, it is never worth the cost
0%
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10
Which type of costs do you think have the largest
impact on a member’s retirement benefit?
1. Explicit
0%
2. Implicit
0%
3. Hidden
0%
4. Opportunity
0%
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10
What is the single biggest cost that a living annuitant
will face in terms of retirement savings?
1. Opportunity cost of poor asset allocation decisions
0%
2. Investment management, consulting and
administration fees
0%
3. Opportunity cost of a life stage model
0%
4. Advisor and LISP fees
0%
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