Longreach CAI

The Underlying Fund can invest in any country that is a member of the MSCI ACWI Index. Long or short exposure can be achieved by holding these securities directly or via equity swaps. The Underlying Fund may use exchange-traded funds and both exchange-traded and over-the-counter equity derivatives including equity swaps and equity index products associated with the countries in which the Fund invests. Currency forward contracts and spot foreign exchange are used to manage currency exposures.

Management fee: 1.35% p.a

Expense recovery: Estimated to be 0.15% p.a

Performance fee: 20% of excess performance above the benchmark and after fees, provided specific performance hurdles are met

The CAI Australian Share Fund invests predominately in companies included in the S&P/ASX 300 Accumulation Index plus up to 10% exposure to international companies. Investments of the Fund may also include derivatives such as index futures and currency forward contracts which would be used for risk management purposes or as substitutes for physical securities.

Management fee: 0.56% p.a.

Expense recovery: Estimated to be 0.22% p.a.

Performance fee: Nil

State Street Australia Ltd
Level 14, 420 George Street
Sydney NSW 2000
Fax: 02 9323 6411