* Please note, the Foundation Series Hedged Total World Fund is subject to a transaction fee charge of 0.50% on all Buy Orders and 0.50% on all Sell Orders. These fees have been accounted for in the above after-fees-and-tax portfolio value example.

Portfolio values above are reflective of a 10-year period net of all costs, including tax, foreign exchange fees, brokerage, buy/sell spreads and any account or transaction fees, based on an assumed 9% p.a. performance figure for all three funds. Note, the actual performance of these funds may vary, with the investment options from Foundation Series and Smartshares having the same underlying investment, while the Vanguard option invests into fewer companies and countries globally.

The table above shows the Foundation Series Hedged Total World Fund generated a better after-fees-and-tax return by around $6,000 at the end of the ten-year investment period. A significant amount of this value can be attributed to the tax-efficiency of the PIE structure over offshore funds like Australian Unit Trusts, along with the compounding impact of annual management fee savings.

The example we have provided is for illustrative purposes only, to highlight the impact that fees and tax can have on returns. Note your actual outcomes may be different, for example, if an investor was on a marginal tax rate or PIR less than 28%, that investor may experience less of an after-fees-and-tax advantage. Investors should always take into consideration their own personal circumstances when making investment decisions and should seek personalised advice from qualified advisers.