The Trust invests in an actively managed portfolio of equities listed (or expected to be listed) on share markets around the world. The Trust is not hedged to the Australian dollar.

Benefits of investing in the Altrinsic Global Equities Trust

Access to global investment opportunities

Altrinsic searches the world seeking to uncover companies with unrealised value that others may have overlooked.

It identifies investment opportunities in both developed and emerging markets.

The Trust provides access to investment opportunities, markets and diversity that individual investors usually can't achieve on their own.

Actively managed portfolio aiming for better return outcomes

The Trust aims to achieve returns that are above the MSCI All Country World Index (ex-Australia) Net Dividends Reinvested ($A) (Benchmark)(before fees and taxes)overrolling five-year periods.

Altrinsic believes it can take advantage of inefficiencies in the world's share markets by taking a long-term view and capitalising on the investment team's in-depth fundamental company analysis, global industry knowledge, and distinctive cross-border perspectives to assess a company's intrinsic value.

Altrinsic's fundamental, intrinsic value approach to stock selection is explained in section 5 of the product PDS.

Altrinsic's investment expertise

Altrinsic believes that an experienced and highly motivated team that works well together has a sustainable competitive advantage in the investment management industry. Altrinsic's investment team has extensive on-the-ground global experience, a passion for equities, and is driven by intense curiosity.

The investment team has a proven track record of successfully managing global equities for many years.

Risk level

High

Investor suitability

Investors wanting long-term capital growth through exposure to global securities, and willing to accept the volatility of foreign exchange risk.

About the Trust

This Trust aims to deliver long-term capital growth, primarily through a portfolio of listed global securities, without being hedged into Australian dollars.

About Altrinsic Global Advisors

Altrinsic Global Advisors is a global equities fund manager based in Greenwich, Connecticut, US. The NAB Group is a minority shareholder of Altrinsic.

Altrinsic is a high-conviction, fundamental, value-oriented global equity manager. It searches developed and emerging markets to uncover companies with unrealised value. Altrinsic only pursues an investment after in-depth, bottom-up, fundamental research with a focus on long- term drivers of intrinsic value.

Investment process

Altrinsic believes it can take advantage of inefficiencies in the world's share markets by taking a long-term view and capitalising on the investment team's in-depth fundamental company analysis, global industry knowledge, and distinctive cross-border perspectives to assess a company's intrinsic value. Altrinsic evaluates companies as if purchasing them outright with its own capital.

How we invest your money

Altrinsic applies a disciplined four step investment process:

1. Sourcing ideas - ideas are generated through the use of a proprietary screening process and in the course of the investment team's on-the-ground company research. It searches developed and emerging markets to uncover companies with unrealised value.
2. Fundamental analysis - this process begins with the long-term historical analysis of a company's fundamental performance drivers. Altrinsic's investment team evaluates management capabilities, strategy, and execution, and forecasts cash flow generation under "normal conditions and then adjusts for associated risks. Intrinsic value is determined by applying multiple valuation measures.
3. Constructing the portfolio - a high conviction portfolio of the investment team's best investment ideas is constructed from the bottom-up on a stock-by-stock basis. Region, industry, and market capitalisation exposures are an outcome of this company-specific approach. The Trust typically invests in 60-100 companies.
4. Managing risk - risk management is applied throughout the investment process at both the company level and the portfolio level.

By applying this investment approach, Altrinsic believes it can achieve the Trust's investment return objective.

Indicative asset allocation ranges

• Global emerging markets equities*: 0% - 30%

• Global developed markets equities*: 50% - 100%

• Cash and cash equivalents: 0% - 20%

*Up to 15% of the Trust may be invested in small cap stocks (US$1.5 billion or less market capitalisation).