Booster KiwiSaver Scheme

Geared Growth Fund

As at 31 October 2021

Investment Objective and Strategy Risk Indicator

The Geared Growth Fund aims to achieve a rate of return The Risk Indicator is rated from 1 (low) to 7 (high). The
(net of fees but before tax) of at least 5.5% per annum rating reflects how much the value of the Fund's assets go
above inflation over any ten year period. The fund invests up and down (volatility). A higher risk generally means
predominantly in growth assets, with little or no allocation higher potential returns over time, but more ups and
to income assets and may borrow to leverage up the total downs along the way.
exposure to equities. The level of gearing can vary otentia ower returns otentia higher returns

between 0-50% of the Fund's value.

Target Gearing Ratio 35% ower ris igher ris

Benchmark Asset Allocation Key Facts

1% Cash and cash equivalents Fund Size $252.3 million
33% Australasian equities Inception Date 15/07/2009
Manager Booster Investment Management Limited
52% International equities
Supervisor Public Trust
8% Listed Property
Fund Type Portfolio Investment Entity (PIE)
6% Unlisted property Suggested Investment Timeframe 15 years +
Growth Assets 99% Income Assets 1%

About the Geared Growth Fund

The Geared Growth Fund is designed to enable long-term
$12,000
savers to gain the benefits of a leveraged (or geared)
$11,500
exposure to growth assets (e.g. shares) through
Investor's Balance

borrowing. Gearing simply means borrowing money to $11,000 ● Capital return

$10,500 from underlying
invest. The Geared Growth Fund increases the effective
$10,000 investments
size of your invested funds by purchasing additional
investments with borrowed funds. This magnifies the $9,500
returns for the investor, both up and down. $9,000 ● Geared Growth
This is best illustrated through a hypothetical example. $8,500 Fund
Using the Geared Growth Fund’s target gearing ratio of $8,000
35% and if the underlying investments were to increase by -10% 0% 10%
10%, an investor in the Geared Growth Fund would Market Return
receive a 13.5% return. While if the underlying
Note: This scenario is an illustration only and is calculated before
investments were to fall by 10%, the balance of an fees. It assumes income returns offset the interest costs
investor in the Geared Growth would fall by 13.5%. associated with borrowing funds to invest, on an after tax basis.

Historical Returns1 Performance as at 31-Oct-20211

$35,000 Before After Tax
Tax at 28%
$30,000 Last month 2.7% 2.6%
$25,000
Last 3 months 3.7% 3.3%
Last 6 months 8.3% 7.7%
$20,000 Last 12 months 32.1% 30.7%
Last 2 years (p.a.) 18.5% 17.4%
$15,000
Last 3 years (p.a.) 18.4% 17.2%
$10,000 Last 5 years (p.a.) 16.4% 15.3%
Last 10 years (p.a.) 13.2% 12.1%
2009

2011

2013

2015

2017

2019

2021

Since Inception (15/07/2009) 11.6% 10.5%

All figures are after fees. Please see the Product Disclosure Statement for further details.

Fund Characteristics PIR

0% 10.5% 17.5% 28%
Expected Long Term Return Forecast (p.a. after fees) 7.8% 7.3% 6.9% 6.5%
Range of expected returns in any one year (p.a. after fees) 2 -24% to 50% -25% to 49% -25% to 49% -25% to 48%
Range of expected returns in any ten years (p.a. after fees) 2 -5% to 19% -5% to 18% -5% to 18% -6% to 18%

1
Returns at 28% PIR quoted are after tax of 30% up to 30/09/10 and 28% after 1/10/10. Past performance is not an indicator of future performance.
2
Expected returns are calculated based on long-run expectations for investment markets and fund performance, and are not a guarantee of future results. The calculation takes information on how market
returns have varied in the past and gives a range of what is assessed to be likely in the future. The ranges of expected returns have been calculated using a statistical tool of 2 ½ standard deviations of return
volatility – this means that actual returns are expected to fall outside these ranges 1 year out of every 100. While these ranges may be used as a guide, due to the uncertainty inherent in financial markets they
are also not guaranteed.
Booster KiwiSaver Scheme
Geared Growth Fund
Target Holdings as at 31 October 2021

Booster Tahi LP3 3.15% Australian Shares 5.75%

Booster Wine Group Limited Partnership 25.4% iShares S&P/ASX Small Ordinaries ETF 18.5%
Booster Wine Group Limited Partnership-B 25.2% VanEck S&P/ASX MidCap ETF 13.0%
Darling Group Holdings Limited 11.2% Commonwealth Bank of Australia 8.0%
Lifetime Group Holdings Limited 9.6% CSL Limited 5.7%
Sunchaser Investments Limited Partnership 9.0% BHP Group Limited 5.2%
Waimea Estates (Nelson) Limited 8.7% National Australia Bank Limited 4.7%
Dodson Motorsport Limited 5.3% Westpac Banking Corporation 4.5%
Awatere River Limited Partnership 3.7% ANZ Banking Group Limited 4.0%
HTS-110 Limited Partnership 0.9% Macquarie Group Limited 3.4%
Dual Clutch IP Limited 0.5% Wesfarmers Limited 3.3%
Booster Wine Group Loan Facility 0.3% Woolworths Limited 2.0%
NZ Cash (BNZ Bank Trust Account) 0.2% Aristocrat Leisure Limited 1.9%
Sydney Airport 1.6%
James Hardie Industries N.V. 1.6%
NZ Innovation Booster 0.05% Woodside Petroleum Limited 1.5%
Edpotential Shares 20.3% Scentre Group 1.5%
Rekover Therapeutics Ltd Convertible Note Shares 15.1% Rio Tinto Limited 1.4%
InstituGen Ltd Shares 12.6% Mirvac Group 1.3%
Chitogel Ltd Shares 10.8% Stockland 1.3%
Marama Labs Ltd Shares 8.7% Afterpay Touch Group Limited 1.3%
Poweron Ltd Shares 8.3% Qantas Airways Limited 1.1%
Ferronova Pty Ltd Shares 4.8% City Chic Collective Limited 1.1%
Mekonos Inc Shares 4.0% Insurance Australia Group Limited 1.1%
X-Frame Shares 4.0% Lendlease Group 1.1%
Alimetry Ltd Shares 3.3% QBE Insurance Group Limited 1.1%
Compliance Audit Systems Ltd Shares 2.2% Telstra Corporation Limited 1.1%
Avalia Immunotherapies Shares 1.7% Fortescue Metals Group Ltd 1.0%
Inhibit Coatings Ltd Shares 1.7% Breville Group Ltd. 0.9%
Ligar Polymers LP Shares 1.7% Transurban Group 0.9%
Amaroq Therapeutics Ltd Shares 0.8% Goodman Group 0.8%
Xero Limited 0.8%
New Zealand Shares 21.5% Cochlear Limited 0.8%
Fisher & Paykel Healthcare Ltd 13.6% Star Entertainment Group 0.6%
Auckland International Airport Limited 9.5% Seek Limited 0.6%
Spark New Zealand Limited 6.5% Resmed Inc 0.5%
Mainfreight Limited 5.8% Computershare limited 0.4%
Contact Energy Limited 5.0% Origin Energy Limited 0.4%
Meridian Energy Limited 4.8%
Infratil Limited 4.7% Global Shares 64.0%
Fletcher Building Limited 4.6% Vanguard International Shares Select Exclusions Fund (NZD Hedged) 52.9%
Ryman Healthcare Limited 4.1% Fisher Investments' Global Focused Strategy 17.5%
The a2 Milk Company Limited 4.0% Vanguard Emerging Markets Share Index Fund 10.5%
Ebos Group Limited 3.8% Booster Global Active Shares 10.0%
Sky City Entertainment Group Ltd 3.3% Vanguard ESG US Stock ETF 3.1%
Mercury NZ Limited 3.1% iShares MSCI Europe ESG ETF 1.6%
Kathmandu Holdings Limited 2.5% iShares U.S. Insurance Index ETF 1.2%
Pacific Edge Limited 2.4% iShares U.S. Home Construction ETF 1.0%
Chorus Limited 2.3% Real Estate Select Sector SPDR Fund 1.0%
Heartland Group Holdings Limited 2.1% SPDR S&P Transportation ETF 0.8%
Summerset Group Holdings Limited 1.9% Energy Select Sector SPDR Fund ETF 0.6%
Freightways Limited 1.8%
Port of Tauranga Limited 1.8%
Serko Limited 1.7%
Z Energy Limited 1.6%
Pushpay Holdings Limited 1.5%
Genesis Energy Limited 1.4%
Skellerup Holdings Limited 1.0%
ANZ Banking Group Limited 1.0%
Vector Limited 1.0%
Comvita Limited 0.7%
Scales Corporation Limited 0.7%
Vista Group International Ltd 0.6%
Tourism Holding Limited 0.5%
Napier Port Holdings Limited 0.4%
Air New Zealand Limited 0.3%

Property 4.95%
Vanguard Int'l Prop Sec. Index Fund (AUD H) 50.0%
Goodman Property Trust 12.1%
Precinct Properties NZ Limited 9.1%
Kiwi Property Group Limited 8.3%
Property for Industry Limited 6.8%
Argosy Property Limited 6.1%
Stride Property Group 5.0%
Investore Property Limited 2.6%

Private Land & Property3 4 0.6%

Vineyard property in Awatere Valley, Marlborough 22.1%
NZ Cash (BNZ Bank Trust Account) 21.8%
Kiwifruit Orchard property in Kerikeri, Northland 20.5%
Vineyard property in Hope, Nelson 15.8%
Vineyard property in Hawke's Bay 8.0%
Waimea West Hops, Brightwater, Nelson 7.7%
Vineyard property in Mahana, Nelson 4.1%

3
Based on actual holdings
4
ANZ Bank New Zealand Limited (ANZ) has provided a loan facility of up to 50% of the value of the secured properties for use by the Private Land and Property Portfolio to effect its gearing strategy which
results in ANZ holding a security interest over a portion of the assets held by the Private Land and Property Portfolio.
Disclaimer This document is for information purposes only. The information is derived from sources believed to be accurate as at the date of issue and may change. The content is of
a general nature and does not take into account your financial situation or goals and is not financial advice.
Neither Booster Financial Services Ltd nor any of its related companies (Booster) accepts any liability for any loss or damage arising directly or indirectly out of the use of, or reliance on,
the information provided in this document. Booster Investment Management Ltd is the manager and issuer, and Public Trust is the supervisor, of the Booster KiwiSaver Scheme
(Scheme). None of Booster, the Government, Public Trust, or any director, board member or nominee of any of those entities, or any other person, guarantees the fund’s performance,
returns or repa ment of capita . The Scheme’s roduct Disc osure Statements are avai ab e at www.booster.co.nz or b contacting your financial adviser.