The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Index. The Fund may invest in securities expected to be listed on the ASX. The Fund may also invest in securities listed, or expected to be listed, on other exchanges where such securities relate to ASX-listed securities. Derivative instruments may be used to replicate underlying positions on a temporary basis and hedge market and company specific risks.

The Fund’s objective is to grow the value of your investment over the long term via a combination of capital growth and income, by investing in a diversified portfolio of primarily Australian shares, providing a total return that exceeds the S&P/ASX 300 Accumulation Index by 2% per annum after fees (measured on a rolling three-year basis).

Benefits of investing in the Bennelong Australian Equities Fund

The significant benefits of investing in the Fund are:

• Access to a share portfolio that aims to consistently deliver above-benchmark returns over the medium to long term;

• Investing with a quality team of highly experienced investment professionals who undertake comprehensive ongoing research to assess the earnings prospects and relative valuations of the stocks in their investment universe;

• Regular reporting including monthly unitholder statements, half-yearly income distribution statements and annual tax statements; and

• Easy access to your investment information.

Risk level

High

Investor suitability

The Fund is suitable for investors who:

• Are primarily seeking capital growth from a portfolio of Australian stocks;

• Are seeking some income via dividends and franking credits; and

• Have a high tolerance for risk.

About the Fund

The Bennelong Australian Equities Fund primarily selects stocks from the S&P/ASX 300 Accumulation Index and holds between 25 and 50 stocks. The Fund's objective is to grow investment value over the long term via a combination of capital growth and income, by investing in a diversified portfolio of Australian shares, providing a total return that exceeds the S&P/ASX 300 Accumulation Index by 2% per annum (after fees) on a rolling three-year basis.

About BAEP

Bennelong Australian Equity Partners (BAEP) is a boutique fund manager focused on Australian equities. It was founded in 2008 in partnership with Bennelong Funds Management. BAEP is a genuinely active fund manager with a consistent, disciplined and proven investment approach.

BAEP's investment philosophy is to selectively invest:

• in high quality companies;

• with strong growth outlooks; and

• underestimated earnings momentum and prospects.

BAEP's investment process is research-intensive with a focus on proprietary field research and is supported by macro-economic and quantitative insights.

How we invest your money

The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Index. The Fund may invest in securities expected to be listed on the ASX. The Fund may also invest in securities listed, or expected to be listed, on other exchanges where such securities relate to ASX-listed securities.

Asset classes and strategic asset allocation

The Fund can invest in the following asset classes:

• equities: 90-100%

• cash: 0-10%

• derivatives: 0-10%

Derivatives are used to replicate underlying positions on a temporary basis and hedge market and company-specific risks.

Maximum active position

The maximum active position (portfolio weight less index weight) of an individual stock is +/-6%. Up to an additional 2% is allowed due to market movements.