The portfolio is primarily invested in companies in the S&P ASX Midcap 50 Index, with the remainder of the portfolio comprised
of highly liquid, high conviction companies in the S&P/ ASX Small Ordinaries Index.

The Fund aims to outperform the composite index of 70% S&P/ASX MidCap 50 Accumulation Index and 30% S&P/ASX 1 Small Ordinaries Accumulation Index (before fees and taxes) over rolling five-year periods

Benefits of investing in the First Sentier Australian MidCap Fund - Class A

Investing in the Fund offers investors access to:

• An investment in companies that the manager believes have sustainable competitive advantages, strong financials, quality management, and predictable earnings (for example, companies with subscription models or high levels of contracted revenue).
• A strategy where the manager seeks to deliver consistent absolute returns and protection from downside risks through all investment cycles.
• An investment approach where value is discovered through a bottom-up investment approach with an emphasis on industry, financials and management.
• Access to expertise of an experienced investment team with a proven track record in Small and Midcap Australian equities.

Risk level

Very High

Investor suitability

This Fund is suitable for investors seeking long term capital growth from Australian equities6 outside of the S&P/ASX 50 index.

This Fund is suitable for investors seeking long term capital growth primarily from Australian equities

About the Fund

The Fund invests in a broad selection of Australian listed companies outside of the large cap S&P/ASX 50 Index.

The Fund's strategy is to favour companies with sustainable competitive advantages, strong financials, quality management and predictable earnings. By investing in these companies, the fund aims to deliver superior returns over the long term.

Investment objective

To consistently add value across most market conditions. The fund aims to outperform the composite benchmark (70% S&P/ASX Accumulation Midcap 50 Index and 30% S&P/ASX Accumulation Small Cap Ordinaries Index) over rolling five-year periods before fees and taxes.

About First Sentier Investors

First Sentier Investors (FSI) is committed to delivering quality investment solutions that enhance the wealth of their investors. The business provides asset and investment management services to institutional and wholesale investors, as well as indirectly to retail investors.

FSI is one of the largest Australian-based investment managers, with a growing presence in selected international markets.

Its specialist investment teams manage portfolios across a diverse range of global markets, investment styles and asset classes, including Australian equities, global equities, global emerging market equities, global property securities, global listed infrastructure securities, global fixed interest and credit, emerging market debt and short-term investments. In addition, they have a direct asset management business that offers investors specialist infrastructure investments.

FSI's approach to investment is driven by a commitment to providing the best possible outcomes over the long term for investors. To achieve this, FSI ensures its interests are aligned with its investors.

How we invest your money

The fund's strategy is to favour companies with sustainable competitive advantages, strong financials, quality management and predictable earnings. By investing in these companies the fund aims to deliver superior returns over the long term.

Asset allocation*

• Global shares: 90-100%

• Cash: 0-10%

*A reference to Australian shares or companies my include, for example, units in trusts listed on the Australian Securities Exchange (ASX) and/or investments in companies listed on an overseas stock exchange if they are also listed on the ASX. The fund may have a small exposure to shares listed solely on the New Zealand Stock Exchange in its Australian share exposure. The fund may also purchase unlisted securities on the basis that the securities will list in the future.

A performance-related fee may apply to the net return (after management fees) above a composite benchmark (inclusive of the net effect of GST). The composite benchmark consists of a weighting of 70% to the S&P/ASX Accumulation MidCap 50 Index and 30% to the S&P/ASX Accumulation Small Cap Ordinaries Index. For more information on the performance-related fee, refer to the fees section on page 14 of the PDS.