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BT Financial Group

PRI reporting framework 2020

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

BT Australia (BT) is the wealth management arm of the Westpac Group (Westpac). For the reporting period operations covered the manufacture and distribution of investment, superannuation and retirement products; margin lending and broking; investment platforms such as wrap and master trusts.

As at 30th September, 2019 total funds held by BT was A$215.4 bn. Of this total Funds Under Management (FUM) was A$61.0 bn and total Funds under Administration (FUA), through BT's execution and advisory services (Platform), was A$154.4 bn.

BT's internal investment management operations sit within our BT Investment Solutions (BTIS) division. Of BT's total FUM, BTIS manages over A$40.5 billion for investors (as at 31 December 2019). The BITS investment philosophy is based on the following key principles that guide the way in which we think as investors:

  • Markets are not fully efficient;
  • Diversification is key to a sound investment strategy;
  • Investing involves balancing risks and costs associated with expected return; and
  • Successful investment outcomes are achieved using a disciplined, systematic and long term approach.

The BT Responsible Investment position statement can be found at: https://www.bt.com.au/content/dam/public/btfg-bt/documents/about-bt/corporate-sustainability/BTFG-responsible-investment-position-statement.pdf.

Information regarding BT's approach to sustainability can be found at: https://www.bt.com.au/sustainability

Additional information concerning Westpac Group's approach to sustainability, can be found at: https://www.westpac.com.au/about-westpac/sustainability

All information provided in this document is covered by the disclaimer contained  in section OO 2.4.

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Australia

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

250 FTE

02.4. Additional information. [Optional]

The number of staff quoted above is an approximate number of the equivalent full-time employees involved directly in the investment decision-making process of BT, as well as supporting roles in administration, marketing and human resources.

 

Disclaimer

Information current as at 30 March 2020. This information has been prepared by BT. It provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. This information does not take into account your personal objectives, financial situation or needs and before acting on it you should consider its appropriateness, having regard to these factors.

The MySuper Lifestage Funds are investment options available through superannuation products including BT Super for Life, Westpac Group Plan, BT Lifetime Super-Employer Plan, Asgard Employee Super Account and BT Business Super. BT Funds Management Limited (BTFM) ABN 63 002 916 458 AFSL No. 233724 is the trustee of Retirement Wrap ABN 39 827 542 991, RSE R1001327 and the issuer of interests in BT Super for Life, Westpac Group Plan and BT Lifetime Super-Employer Plan (which is part of Retirement Wrap) and the trustee of Asgard Independence Plan - Superannuation ABN 90 194 410 365 and the issuer of interests in Asgard Employee Super Account (which is part of Asgard Independence Plan - Superannuation). Westpac Securities Administration Limited ABN 77 000 049 472 AFSL No. 233731 (WSAL) is the trustee of Westpac Master Trust and the issuer of interests in BT Business Super (which is part of Westpac Master Trust). Collectively, the abovementioned superannuation products are the BT Super Products.

A Product Disclosure Statement (PDS) and the Additional Information Booklets that form part of the PDS for each of the BT Super Products can be obtained by calling 132 135, or visiting www.bt.com.au. You should obtain and consider the PDS before deciding to acquire, continue to hold or dispose of interests in a BT Super Product.

BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 (BTPS) operates Panorama Investments and BT Invest, and administers Panorama Super and BT Super Invest. BTFM is the trustee and issuer of Panorama Super and BT Super Invest, which is part of Retirement Wrap ABN 39 827 542 991. Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 (WFSL) is the responsible entity and issuer of interests in BT Managed Portfolios. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) is the issuer of the BT Cash Management Account (BT CMA), the BT Invest Cash Management Account (BT Invest CMA) and the BT Cash Management Account Saver (BT CMA Saver). Together, these products are referred to as the Panorama products.

A PDS or other disclosure document for the Panorama products can be obtained by calling 132 135 or by visiting www.bt.com.au. You should obtain and consider the relevant PDS before deciding whether to acquire, continue to hold or dispose of interests in the Panorama products. Conditions, fees and charges apply for the Panorama products and may change. The Panorama products are only available in Australia.

In addition, BTPS is the provider of the Panorama SMSF Establishment Service and the Panorama SMSF Administration Service. The Guide and Terms and Conditions for these services are available by contacting BTPS.

BTPS, BTFM, WFSL and WSAL are subsidiaries of Westpac. Apart from any interest investors may have in Westpac term deposits, Westpac securities, the BT CMA, the BT Invest CMA, the BT CMA Saver or underlying bank accounts held at Westpac through their Panorama Super or BT Super Invest cash account acquired through the Panorama operating system, an investment acquired using the Panorama operating system or in a BT Super Product is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. These investments are subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of any investments acquired through the Panorama operating system or a BT Super Product.

BT Protection Plans are issued by Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS), except for Term Life as Superannuation and Income Protection as Superannuation which are issued by WSAL. WLIS and WSAL are subsidiaries of Westpac. Westpac does not guarantee the insurance. The information in this report may contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, no company in the Westpac Group accepts any responsibility for the accuracy or completeness of, or endorses any such material. Except where contrary to law, we intend by this notice to exclude liability for this material.

©BT - Part of of Westpac Banking Corporation.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

BT is the wealth arm of Westpac Group and is a wholly owned subsidiary of Westpac Banking Corporation. 


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

As at 30th September, 2019 BT total Funds Under Management (FUM) is A$61bn, as reported above.  

Of this A$40.5 billion is managed internally through our investments division, BT Investment Solutions (BTIS) (as at 31 December, 2019) 

In addition, Funds under Administration (FUA) through BT's execution services was A$154.4 billion as at 30 September, 2019.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 >50% 61.5
Fixed income 0 0 10-50% 15.5
Private equity 0 0 0 0
Property 0 0 <10% 9
Infrastructure 0 0 <10% 0.5
Commodities 0 0 <10% 1
Hedge funds 0 0 <10% 3
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 <10% 9.5
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

99 Developed Markets
1 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The above figure is an indication for equities only and is calculated at the fund or investment strategy level. On a look-through basis, the underlying exposures of the portfolios may differ to these figures.


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