Benefits of investing in EAI

• access a specialist investment manager with a high conviction investment approach and a benchmark independent philosophy of stock selection;

• access a Manager with deep expertise across global markets who manages approximately $4 billion (as at 30 June 2015) in Australian and global portfolios;

• diversify existing portfolios by accessing Asian investment opportunities;

• invest in Asia, a region where certain countries (eg India) are typically harder for individual investors to access;

• benefit from a team which has been investing in Asia for over 20 years and has a strong and robust investment process;

• take advantage of a competitive fee structure; and

• benefit from oversight by a Board with strong experience in capital markets, corporate governance and investment, with a focus on cost control and efficiency.

About the Fund

Ellerston Asian Investments Limited (ASX: EAI) is a concentrated, high conviction, growth orientated portfolio which is benchmark independent by country, sector and security. It invests in highly liquid names throughout Asia. The highly experienced team takes an active top down and bottom up approach to portfolio construction.

The core thematics underpinning the growth opportunities within the portfolio that the team are aiming to exploit, include the rising Asian consumer, digital disruption in Asia, structural reform in India and the capital market liberalisation in China.

Investment objectives

The Company's primary objective is to generate superior returns for Shareholders over time. To achieve the primary objective the Company proposes to:

• seek to provide investors with access to Asian investment opportunities that offer growth at a reasonable price;

• seek to increase the value of the Investment Portfolio by allocating capital to a limited number of securities in which the Manager has high conviction; and

• be aware of currency and cash exposures and actively manage them in line with the Manager's macroeconomic and market outlook.

How we invest your money

The Company's investment strategy is to construct a concentrated portfolio of Asian Equity Securities using the Manager's high conviction style of investing which aims to identify high growth companies that are valued at a reasonable price. Unconstrained by benchmark weight, capital is allocated by implementing high conviction ideas from a filtered universe of Asian Equity Securities. The Manager utilises top down macro analysis and identification of thematics in the region and combines this approach with detailed bottom-up analysis via a conviction scorecard.

Asset allocation

• Listed Asian Equity Securities: 50-100%

• Unlisted Asian Equity Securities: 0-10%

• Cash and fixed interest: 0-50%

• Derivatives & Foreign Currency (Foreign exchange contracts / Exchange-traded derivatives / OTC Derivatives): 0-100%

• Structured products: 0%

• Real property: 0%

• Direct unlisted infrastructure: 0%

Derivatives may be used as part of the Company's overall investment strategy, including but not limited to the purpose of hedging the Investment Portfolio, to increase or decrease individual security, portfolio or country exposures with the aim of generating or protecting returns. The Company may use exchange traded or OTC Derivatives. The Company does not intend to engage in Short Selling.

The key dependencies underpinning the investment strategy are the research, analysis, skill and experience of the Manager as well as market conditions.