Benefits of investing in WQG

WQG aims to provide investors with access to a Portfolio that:

• will comprise long positions in globally listed securities;

• seeks returns over each full investment cycle (which the Adviser and the Company consider to be a period of typically 3 to 5 years) at least 3.0% above the Benchmark, being the MSCI All Country World Index ex- Australia with gross dividends reinvested reported in Australian dollars and unhedged; and

• will be actively managed with a focus on capital growth.

Investors will benefit from the Adviser's:

• deep international equities investment expertise of more than 13 years;

• successfully implemented the same investment strategy for greater than 9 years; and

• strong and robust investment process that is implemented by a stable, experienced (18 years average investments experience) and cohesive team.

About the Fund

WCM Global Growth Limited provides investors with access to an actively managed portfolio of quality global companies found primarily in the high growth consumer, technology and healthcare sectors.

The portfolio is managed by WCM Investment Management (WCM), a California-based specialist global equity firm with an outstanding long-term investment track record.

WCM's investment process is based on the belief that corporate culture is the biggest influence on a company's ability to grow its competitive advantage or moat'. This process has resulted in WCM's Quality Global Growth strategy outperforming the MSCI World Index by an annualised 5.2% per annum over the past decade, with total firm assets under management growing to over AUD 42 billion.

Investment objectives

The Company's investment objectives are to seek quality businesses with strong global growth prospects, offering a distinct diversification from the Australian market. The performance objective of the Portfolio is to exceed the Portfolio's benchmark, the Morgan Stanley Capital International (MSCI) All Country World Index ex-Australia with gross dividends reinvested reported in Australian dollars and unhedged (Benchmark) by more than 3% p.a. before tax and fees over rolling three year time periods, but with lower volatility than the Benchmark. The tracking error is expected to be in the range of 4.0%- 9.0% per annum ex-ante over a 3 year period.

How we invest your money

The Company's Portfolio will be constructed in accordance with the Company's Investment Strategy, using the Adviser's investment process and philosophy. The performance objective of the Investment Strategy is to grow wealth over time by seeking returns above the Benchmark of more than 3.0% per annum (before tax and fees) over rolling 3 year periods but with lower levels of volatility.

The Company will purchase what is assessed to be leading, quality growth businesses and build a high conviction Portfolio of between 20 to 40 securities. The Portfolio may have significant investments in certain sectors within a particular industry or industries from time to time.

The Adviser uses rigorous bottom-up research that seeks to identify companies with attractive fundamentals, such as long-term historical growth in revenue and earnings, and strong potential for future growth.

The Adviser's investment process seeks companies that are industry leaders with rising competitive advantages; corporate cultures emphasising strong, quality and experienced management, low or no debt; and attractive relative valuations. The Adviser also considers other factors including political risk, monetary policy risk, and regulatory risk in selecting securities.

The investment strategy has no geographic limitations (other than excluding Australia) or industry limitations and does not focus on any specific developed or emerging market. The Adviser will not seek to replicate or have regard to the Benchmark in the construction of the Portfolio and will build the Portfolio through its investment process.

Permitted investments

The Portfolio is permitted to be invested in any of the following permitted investments:

• Securities listed on any Internationally Recognised Stock Exchange considered of sufficient liquidity;

• Cash and cash equivalents;

• Exchange traded derivatives or futures provided that the investment is for the purpose of gaining indirect exposure to the equity market; and there is at all times sufficient cash available in the Portfolio to pay margin calls as they fall due for payment;

• Such other investments as may from time to time be agreed upon in writing between the Manager, the Adviser and the Company.

• The Adviser is not permitted to invest in any security where the Adviser has a management or advisory role with the underlying entity, unless otherwise approved.

Asset allocation

• Equities in developed markets ex-Australia: 0-65%

• Equities in emerging markets: 0-35%

• Cash and cash equivalents: 0-7%