Benefits of investing in the MLCLow Cost Conservative Growth Portfolio

• Experience and track record: We use a market-leading investment approach to design and manage the Trust. Our investment experts have been successfully managing portfolios for over 30 years, helping clients achieve their investment goals.

• Risk-management focus: The Trust's risk is actively managed using a unique Investment Futures Framework (Framework), which guides our forward-looking approach to managing risk. In an unpredictable and constantly changing world, the Framework helps continually identify the very wide range of potential market scenarios - good and bad - that could occur. The Framework also helps our investment experts analyse how these scenarios could affect the risks and returns of the asset classes in the Trust. The insights from this analysis are used to work out the combination of asset classes that will best achieve the Trust's objective. This helps prepare the Trust for future market ups and downs.

• Defined asset allocation: We manage the Trust's growth and defensive assets within defined ranges. See Benchmark asset allocation and ranges' in section 5 of the PDS.

• Multi-manager approach: We use many specialist investment managers from around the world to find some of the best investment opportunities for the Trust and to manage risk.

• Keeping costs down for investors: To keep costs down for our investors, we tend to use lower cost investment managers, including index and index enhanced investment specialists.

• Broad diversification: The Trust is diversified across a wide range of mainstream asset classes, with some exposure to alternative assets and strategies to reduce the Trust's exposure to risk. Our specialist investment managers invest widely across countries, industries and companies.

Investors who want a diversified, low cost investment portfolio with some long-term capital growth over an investment time frame of at least four years.

About the Fund

At MLC, we know some investors want a well-diversified portfolio, without high fees.

The MLC Index Plus portfolios give you this, plus more.

Each portfolio provides low-cost access to market returns, and a wide range of assets across the world, through an intelligent blend of index and active investment strategies.

Plus, MLC's experienced investment team actively manages the asset allocation of the portfolios using their market-leading investment approach. In constantly changing markets, they make active decisions about what mix of assets and strategies can best achieve the portfolios' objectives.

Each portfolio has a different asset allocation, designed to deliver different levels of return over different time frames.

Investment objective

Aims to provide a return that meets its benchmark, before fees, over 3 year periods.

At the same time, we aim to reduce risk in the Trust if market risk is high by changing the Trust's asset allocation. As a result of reducing the allocation to higher risk assets, there may be smaller losses than the benchmark in weak or falling markets and potentially lower returns than the benchmark in strong markets.

While the Trust isn't managed to achieve a particular return above inflation, an average return of 4% p.a. above inflation (before fees) is consistent with historical long-term returns from investment markets, using an asset allocation similar to the Trust's.

How we invest your money

Investment markets are the main driver of the Trust's investment returns. The Trust's allocation to investment markets is shown in its benchmark asset allocation and ranges below. The benchmark asset allocation has a strong bias to growth assets and some exposure to defensive assets.

Our investment experts actively look for opportunities to provide better returns, or less risk, than those generated by the benchmark asset allocation and to manage the Trust's exposure to the risks of investing in markets. Our investment experts do this by:

• Researching and selecting a broad range of mainstream asset classes, and including some exposure to alternative assets and strategies.

• Adjusting the allocations to the asset classes within the defined ranges shown below.
• Researching hundreds of investment managers from around the world and selecting the managers they believe are the best for the Trust. These investment managers, who are mainly active managers, choose many companies and securities in Australia and overseas for investment.

The Trust uses all aspects of MLC's approach to investing, outlined in the Product Guide.

Benchmark asset allocation and ranges:

(Asset class: Benchmark asset allocation / Ranges)

• Cash: 6% / 0%-20%

• Fixed income: 43% / 15%-60%
• Defensive alternatives and other: 2% / 0%-10%

Total defensive assets: 51% / 40%-60%

• Australian shares: 19% / 5%-35%

• Global shares: 23% / 10%-35%

• Listed property securities: 3% / 0%-15%
• Growth alternatives and other: 4% / 0%-10%

Total growth assets: 49% / 40%-60%