The SIM Enhanced Tracker Balanced Fund is the current underlying investment portfolio for the Fund’s second default investment strategy, the Passive Investor Strategy and is also available as a member choice portfolio in the range of institutionally-priced investment portfolios. This portfolio aims to contain investment management costs via a passive management investment strategy with underlying investments tracking market indices. The portfolio’s benchmark is an important driver of the return profile and the return expectations by investors. Sanlam Investment Management (SIM) has announced an adjustment to the benchmark of the SIM Enhanced Tracker Balanced Fund with effect of March 2013. The trustees are comfortable with this change and believe it is an enhancement that will benefit the Sanlam Umbrella Fund members. The changes are summarised as follows: Participating employers / Joint Forums might wish to use this opportunity to review their chosen default investment strategy working together with their Contracted Benefit Consultant.