The Universal Super Scheme - MLC

New anti-money laundering and
counter-terrorism measures
In December 2006, the Australian Government
introduced the Anti-Money Laundering and
Counter‐Terrorism Financing Act 2006.
As superannuation funds are covered by the Act, we
will be establishing new procedures to comply with
our obligations as these become effective over the next
18 months. These procedures include:
• verifying your identity when you withdraw money
from your account, and
• reporting suspicious matters to the Australian
Transaction Reports and Analysis Centre (AUSTRAC)
and potentially to other third parties. Where such
reporting takes place, we are prohibited by law
from notifying the impacted member(s) that this
has occurred.
If you do not provide us with proof of your identity
when requested, we may be unable to provide you with
certain services or complete certain requests, such as a
withdrawal of money from your account.
Enhancement to the Investment Facility
In January 2007, the Investment Facility’s allocation to
property securities was moved to a 100% global strategy.
Previously, the property securities strategy was 75%
Australian and 25% global.
MLC believes the Investment Facility will benefit from
the higher long-term return potential and greater
diversification of global property securities when
compared to the Australian property securities market.
The exposure to foreign currencies, resulting from
holding global property investments, is passively hedged
back to the Australian dollar. This strategy aims to
reduce most of the risks from currency exposure.
The Universal Super Scheme
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