The Investment Manager uses a passive investment strategy, investing in a portfolio of securities designed to reflect the characteristics of the Fund’s Index.

The Investment Objective of SPDR S&P/ASX 200 Resources Fund is to match the performance of its Index before fees and other costs.

Benefits of investing in SPDR ASX ETFs

Diversified Investment

Each Fund provides investors with a cost efficient way of gaining exposure to a portfolio of securities reflecting sub-components of the S&P/ASX 200 Index or the S&P/ASX 300 Index (as applicable). In one transaction investors can effectively gain exposure to the securities that comprise the Index for the Fund they choose or, in the case of the SPDR S&P/ASX Small Ordinaries Fund, a portfolio representative of the Index.

Relatively Low Cost

Each Fund is designed to be cost efficient. Index- linked, passively managed funds are generally less expensive to operate than actively managed funds, and therefore usually have lower management costs. For further information on fees, see section 6 of the PDS - "Fees and Other Costs.

Transparency of Performance

Each Fund is designed to broadly replicate the performance (before fees) of its Index. The SPDR S&P/ASX 200 Resources Fund and SPDR S&P/ASX 200 Financials EX A-REIT Fund generally achieve this by buying all the securities in the relevant Index, generally in accordance with their weight in the Index. The SPDR S&P/ASX Small Ordinaries Fund generally achieves this by holding a portfolio of securities that is representative of the Index. For more on performance information, see section 3 of the PDS - "Investment Objectives, Strategies and Performance of the Funds.

Flexibility of Trading

Traditional unlisted managed funds do not have the facility to allow investors to trade at quoted prices. Instead, applications and redemptions are processed at a closing price. In contrast, investors in each Fund can normally trade Units on the ASX during trading hours, subject to market conditions.

Citigroup Global Markets Australia Pty Limited undertakes to make a market in each of the Funds and to continuously quote prices for Units in each Fund during normal trading hours as prescribed by the ASX under the ASX Rules (other than during a market disruption). The ASX Rules do not require this arrangement to continue where a Fund has at least 1,000 unitholders and a net asset value of at least $10 million.

Distributions and Franking Credits

Each Fund will receive dividends and distributions from the underlying securities in its portfolio. These dividends and distributions, after deduction of fees and expenses and certain amounts paid to Unitholders of the Fund who have redeemed during the relevant distribution period, will be distributed to Unitholders of the Fund, normally half yearly. In addition, any franking credits a Fund receives are also distributed to Unitholders. The amount of the distributions for a Fund will not necessarily be the same as the yield on the Fund's Index. For further information on distributions, see section 8 of the PDS - "Distributions and Distribution Reinvestment Plan.

About the Fund

The SPDR S&P/ASX 200 Resources Fund seeks to closely track, before fees and expenses, the returns of the S&P/ASX 200 Resources Index.

About the Index

A subset of the S&P/ASX 200 Index comprising shares in approximately 65 of the largest companies involved in the metals and mining industry (broadly classified as aluminum, non- ferrous metal mining, salt and borate mining, phosphate rock mining, gold and precious metals, producers of iron and steel and related products) and energy (including oil and natural gas, steaming and coking coal, coal seam methane gas and uranium).

Further information on the Index, including its past performance, is available on under the index detail section for the Fund at www.spdrs.com.au or at www.indices.standardandpoors.com.

How we invest your money

The Investment Manager employs a passive management strategy for each Fund designed to track the performance of the Fund's Index, before fees and other costs. The SPDR S&P/ASX 200 Resources Fund and the SPDR S&P/ASX 200 Financials EX A-REIT Fund generally invest in the securities comprising their Index in proportion to their relative weightings in the Index. However, in a variety of circumstances the holdings of a Fund may not exactly replicate the Fund's Index. For example, it may not be possible or practical to do so in some circumstances, such as where investment restrictions apply which would prevent direct investment in a particular security. From time to time a Fund may not hold all of the securities comprising its Index and may hold securities in weightings which differ from the Index. The SPDR S&P/ASX Small Ordinaries Fund generally holds a sample of the securities that make up the Index; the sample is intended to be representative of the Index. In implementing the sampling process employed by the SPDR S&P/ASX Small Ordinaries Fund the Investment Manager may consider factors including but not limited to sector, capitalisation and liquidity.

In seeking to track the performance of the S&P/ASX Small Ordinaries Index, the SPDR S&P/ASX Small Ordinaries Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the SPDR S&P/ASX Small Ordinaries Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The subset of securities held by the Fund will be determined based on a number of factors, including the liquidity of the security, the size of the Fund, the portfolio's exposure to industry sectors (relative to the corresponding exposure under the Index) and the market capitalisation of the relevant securities. The Investment Manager expects that the consideration of liquidity of the Index constituents will be increasingly significant if the size of the Fund increases.

The Investment Manager intends the Fund to hold more than half, but less than the total, number of securities in the Index. As at the date of this PDS, the Investment Manager expects that the Fund will usually hold between 70% and 90% of the total number of securities in the Index (although these levels may change). The Fund may hold as many securities as the Investment Manager believes is necessary to achieve the Fund's investment objective.

Due primarily to the sampling strategy described above, the Investment Manager expects variations in the performance of the Fund compared to the Index (referred to as "tracking error).

From time to time, the Investment Manager may cause a Fund to buy or sell derivative contracts (e.g. futures contracts and options over securities comprising the relevant Index) and other investments that do not form part of the Fund's Index. This may occur where the Investment Manager believes that the Fund's investment objective can better be achieved by doing so. For example, derivatives may be used to manage a Fund's exposure to the market during distribution periods, or where direct investment in a particular security is not possible or practical. Derivatives will only be used in limited circumstances and will not be used to gear any Fund.

The Funds will not participate in securities lending or short sell securities.