MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced - Managed Fund

Fund Objective

The portfolio has a strong bias to growth assets and some exposure to defensive assets. The allocations to these assets are actively managed within defined ranges, in accordance with MLC's changing view of potential risks and opportunities in investment markets. The portfolio is broadly diversified across mainstream asset classes. It uses mainly passive investment managers for growth assets and active managers for defensive assets. These managers invest in many companies and securities in Australia and overseas.

Fund Strategy

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	0.93%	0.85%	5.09%	9.4%	12.31%	11.61%	-%	-%
Growth return	0.48%	1.33%	6.19%	11.38%	12.7%	12.62%	-%	-%
Income return	0.45%	-0.48%	-1.1%	-1.98%	-0.39%	-1.01%	-%	-%
Market index (Morningstar AUS Growth Tgt Alloc NR AUD)
Total return	0.38%	-0.09%	4.07%	8.34%	11.24%	10.63%	8.07%	8.42%

As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced

Australian Equities: 24.34%

International Equities: 43.09%

Cash: 2.73%

Property & Infrastructure: 5.56%

Fixed Interest: 20.21%

Alternatives: 4.07%

Average Allocation of Peers

Australian Equities: 48.94%

International Equities: 15.49%

Cash: 4.59%

Property & Infrastructure: 5.82%

Fixed Interest: 20.01%

Alternatives: 5.15%

General Information

Fund Details

Type	Description
Fund Name	MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced
APIR Code	NUL4276AU
Sector/Asset Class	Multisector Growth
Morningstar Rating	(as at 31 Dec 2025)
Legal Structure	Allocated Pension
Fund Inception	26 Feb 2021
Fund Size	$6396299 million (as at 31 Dec 2025)
Entry Price	$37.48031 (as at 29 Jan 2026)
Exit Price	$37.40541 (as at 29 Jan 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.57% (as at 1 Oct 2024)
Indirect Cost Ratio (ICR)	0.76% (as at 30 Jun 2024)
Savings plan comments
Redemption comments

Top 10 holdings (as at 31 Oct 2025)

Holding (as at 31 Oct 2025)	Type	% of Portfolio
Macquarie Hedged Index Globalinfrastructure Securities Fund		2.95%
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FAQs about the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced

What is the objective of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The objective of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is The portfolio has a strong bias to growth assets and some exposure to defensive assets. The allocations to these assets are actively managed within defined ranges, in accordance with MLC's changing view of potential risks and opportunities in investment markets. The portfolio is broadly diversified across mainstream asset classes. It uses mainly passive investment managers for growth assets and active managers for defensive assets. These managers invest in many companies and securities in Australia and overseas.

What is the strategy for the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The strategy of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is The portfolio has a strong bias to growth assets and some exposure to defensive assets. The allocations to these assets are actively managed within defined ranges, in accordance with MLC's changing view of potential risks and opportunities in investment markets. The portfolio is broadly diversified across mainstream asset classes. It uses mainly passive investment managers for growth assets and active managers for defensive assets. These managers invest in many companies and securities in Australia and overseas.

What is the APIR code of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The APIR code of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is NUL4276AU.

What was MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s total return last month?

MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s total return last month was 0.93%. This was made up of a growth return of 0.48% and an income return of 0.45%. These returns were calculated as at 31 Jan 2026.

What was MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s total return for the last three months?

MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s total return for the last three months was 0.85%. This was made up of a growth return of 1.33% and an income return of -0.48%%. These returns were calculated as at 31 Jan 2026.

What is MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s one-year total return?

MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s one-year total return is 9.4%. This was made up of a growth return of 11.38% and an income return of -1.98%. These returns were calculated as at 31 Jan 2026.

What is MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s three-year total return?

MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced’s one-year total return is 11.61%. This was made up of a growth return of 12.62% and an income return of -1.01%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The asset allocation of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is :

Australian Equities: 24.34%

International Equities: 43.09%

Cash: 2.73%

Property & Infrastructure: 5.56%

Fixed Interest: 20.21%

Alternatives: 4.07%

What sector/asset class does the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund belong to?

The MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund belongs to the Multisector Growth sector/asset class.

What is the size of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

As at 31 Dec 2025, the size of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund was $6396299 million.

What is the inception date of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund has an inception date of 26 Feb 2021.

What is the current entry price of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The current entry price of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is $37.48031 per unit and the current exit price is $37.40541 per unit (as at 29 Jan 2026).

What is the current exit price of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The current exit price of the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is $37.40541 per unit and the current entry price is $37.48031 per unit (as at 29 Jan 2026).

What is the minimum investment amount for the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund?

The minimum initial investment amount for the MLC MasterKey Term Allocated Pension - MLC Low Cost Balanced managed fund is $.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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