Summary of Funds

The Alpha Fund invests in a concentrated portfolio of 10 to 15 well researched shares predominantly in New Zealand and Australian listed companies. The Fund does not track an equity index. As a consequence of these factors performance may be volatile.

ALPHA FUND OVERVIEW

The Australian Fund invests in a select portfolio of approximately 25-35 companies which are primarily Australian listed companies. The Australian market offers exposure to a number of sectors that are not available in New Zealand.

AUSTRALIAN FUND OVERVIEW

The Dividend Yield Fund invests in a select group of approximately 25-35 New Zealand and Australian listed equity securities chosen for their attractive Dividend Yields with some growth prospects to maintain the Dividend Yield and capital value in Real Terms.

DIVIDEND YIELD FUND OVERVIEW

The Trans-Tasman Fund invests in a select portfolio of primarily New Zealand and Australian listed companies. The Trans-Tasman Fund is actively managed, which means the holdings and returns may differ considerably from its Benchmark.

TRANS-TASMAN FUND OVERVIEW

The Global Themes Fund holds an investment portfolio of global financial assets and cash. These assets may include Exchange Traded Funds, equity securities (shares), Index Funds, future contracts, currency positions and derivative securities.