Investment Objectives

The Trust has a long term investment horizon and seeks to outperform its benchmark, the S&P/ASX300 Index, as measured over rolling five year periods.

Investor Profile

The Trust is suitable for investors looking for both capital growth and income from an exposure to a diverse portfolio of Australian listed securities. Investment returns will fluctuate, with the possibility of a negative return in some periods. The Trust should be viewed as an investment with a long-term investment horizon i.e. for at least five years.

Investment Policy

The Trust provides access to a diversified portfolio of Australian stocks. Underlying the investment management process is a combination of value measures, quantitative assessment and momentum analysis. The combination of investment styles is designed to smooth investment performance over the course of the market cycle.

The assets of the Trust may be invested directly or via existing wholesale unlisted trusts.

Fund Managers (as at 30 November 2011)

• Perennial Investment Partners
• JCP Investment Partners