Benefits of investing in the Martin Currie Select Opportunities Fund Class A

The Fund offers a number of significant benefits:

• exposure to Australian listed companies that the investment manager believes are undervalued and offer the opportunity for higher returns;

• the opportunity to receive regular income distributions from dividends (including "franked dividends) and net gains on the disposal of assets;

• professional management of your investment with an experienced fund manager;

• diversification benefits that would be difficult to achieve through direct investment;

• disciplined portfolio construction; and

• web-based reporting that includes performance, market commentary and portfolio strategy.

Risk level

High

Investor suitability

The Fund should be suitable mainly for investors seeking an investment in Australian shares with long-term financial goals.

About the Fund

The Fund seeks to maximise returns for longer term investors by investing in a high conviction portfolio of securities which are trading below our assessment of intrinsic value, whilst considering each company's direction and quality.

The investment manager's approach is premised on the philosophy that the Australian equity market is efficient over the long term, with stock prices ultimately reflecting the present value of future cash flows.

However, in the short term, the market's behavioural biases can create mispricing and divergence from fair value that can be exploited by disciplined investment process.

The investment manager relies on complementary fundamental and quantitative research, and collective insights into the current investment landscape, to identify the most attractive opportunities.

The investment manager combines extensive fundamental and quantitative research and disciplined portfolio construction to produce a concentrated portfolio of undervalued securities.

How we invest your money

The Fund predominately invests in Australian listed securities and may hold cash. The Fund aims to hold investments so that at the time of purchasing securities:

• exposure to individual securities is within ±6% of Benchmark weight;

• approximately 25 to 40 securities are held; and

• exposure to sectors (as determined by Martin Currie Australia) is within ±12% of Benchmark weight.

While the maximum holding of cash or cash equivalents is 10%, the portfolio is intended to be fully invested in securities at all times with cash being held for liquidity purposes only.

The Fund will not invest in securities issued by companies involved in:

1. the production or distribution of cluster munitions
2. the manufacture of tobacco products.

The Fund may also use certain derivatives to implement investment decisions, to manage cash flows or to facilitate timely exposure to Australian listed securities.

The Fund does not intend to borrow.