Macquarie Super and Pension Manager. Macquarie Super Accumulator

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1 Macquarie Super and Pension Manager Macquarie Super Accumulator Macquarie Super and Pension Manager Macquarie Super Accumulator Annual report to investors Year ended 30 June 2009 Macquarie Superannuation Plan Smart administration solutions made simple Macquarie Investment Management Limited ABN AFSL RSEL L

2 Contents 01 Welcome 02 The financial year in review 04 Investment returns to 30 June Asset allocation as at 30 June Investment strategies 41 Important information 43 Financial statements 46 Notes to and forming part of the financial statements 54 ee s statement 55 Independent report by approved auditor to trustee and members Macquarie Super and Pension Manager (Super and Pension Manager) together with Macquarie Super Accumulator (Super Accumulator) form part of a superannuation fund known as the Macquarie Superannuation Plan RSE R The trustee for the superannuation fund is Macquarie Investment Management Limited ABN AFSL RSEL L (MIML, Macquarie, the trustee, we, us). MIML has appointed Bond Street Custodians Limited (BSCL) ABN AFSL to hold the fund s investments in custody. BSCL and MIML are wholly owned subsidiaries of Macquarie Bank Limited ABN MIML is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959, and MIML s obligations do not represent deposits or other liabilities of Macquarie Bank Limited. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of MIML. Investments in Super and Pension Manager and Super Accumulator are not deposits with or other liabilities of Macquarie Bank Limited or of any Macquarie Group company, and are subject to investment risk, including possible delays in repayment and loss of income or principal invested. Neither Macquarie Bank Limited, MIML, Macquarie Life Limited ABN AFSL , Macquarie Equities Limited ABN , any other investment managers referred to in this annual report, nor any other member company of the Macquarie Group guarantees the performance of Super and Pension Manager or Super Accumulator or the repayment of capital from Super and Pension Manager or Super Accumulator. The information contained in this annual report is dated 15 December 2009 and is general information only. We have not taken into account your objectives, financial situation or needs. You should consider the appropriateness of this information, taking into account your objectives, financial situation and needs and the applicable PDS available from us or your adviser, before acting on any of the information in this annual report.

3 Welcome 15 December 2009 Dear Investor, Welcome to the annual report for the Super and Pension Manager and Super Accumulator for the year ended 30 June The financial year has seen unprecedented levels of market volatility. Although there has been an overall decline in the global economy throughout 2009 the outlook has been more positive for Australia. A resilient labour market coupled with an upswing in consumer and business confidence has helped Australia s economy to remain strong throughout the crisis, with positive growth predictions of over three per cent forecast for Although the challenges may not be over yet, I feel 2010 can be approached with more optimism. Favourable economic prospects have led to increasingly positive predictions of global economic growth, while favourable domestic conditions should continue to fuel positive sentiment, and may see a reverse in some of the losses made in If you have any questions about this annual report or Super and Pension Manager or Super Accumulator in general, please contact your adviser. Yours sincerely, Neil Roderick Executive Director Macquarie Investment Management Limited This annual report includes information on: Super Manager and Super Accumulator, accumulation superannuation products Pension Manager, a retirement income solution incorporating an account based pension and Term Allocated Pension. References to Pension Manager can be interpreted as references to both Pension Manager and Term Allocated Pension Manager. The financial statements relate to the entire Macquarie Superannuation Plan which includes Macquarie Super and Pension Manager, Macquarie Super Accumulator, Macquarie SuperOptions and FutureWise Super a risk only superannuation fund. 1

4 The financial year in review The past year has seen significant changes for financial markets and economic activity around the globe. In the wake of the sub-prime crisis, financial commentators hypothesised that the weaknesses in financial markets would continue for the remainder of 2009, perpetuating a downturn of historic proportions. Their predictions, however, didn t adequately take account of the massive financial stimulus packages that were implemented around the globe. As this stimulus gained traction, the global economic outlook brightened and this was quickly reflected in improved financial markets. The global economic outlook Global growth has fallen over the past year as volatility in financial markets spilled over into the real economy. A rapid collapse in housing market and consumer activity in the advanced economies of North America and Europe prompted a spike in unemployment, precipitating further declines in confidence and spending. This contributed to significant weakness in demand for emerging market exports. Global output contracted by around 1% in the 2009 financial year. However, we are now seeing widespread upgrades for global growth forecasts for the year ahead. economic outlook The economy has performed strongly through the global downturn. The resilience of the labour market has helped generate a sharp upswing in consumer and business confidence. Significant policy stimulus has also seen a resurgence in housing market activity, which will drive strong construction growth in the year ahead. This stronger than expected domestic activity has put inflation back on the policymakers agenda. The Reserve Bank of Australia (RBA) was one of the first central banks in the world to begin tightening monetary policy since the onset of the global financial crisis when it raised rates in October. The RBA is expected to continue lessening the stimulus provided by monetary policy, bringing rates back to a neutral level (around 4.5%) over Asset class performance The financial unrest of the global financial crisis had a considerable impact on asset returns over the past year. Falling asset values were severe and uniform, and this was most evident in global and domestic equity markets. From highs in November 2007 to lows in March 2009, the value of both the (ASX 200) and international stock (MSCI, ex Australia) indices fell by around 50%. The most dramatic declines came in the six months following September Since March 2009, the ASX 200 has posted significant gains, as confidence in financial markets slowly returned. During the financial year, the ASX 200 had risen by more than 50% since its lowest point in March 2009, and international stocks were also up about 50% from their lows, leaving both markets around 30% below their late peaks. The asset class hit most heavily by the downturn was the listed property sector. Excessive debt levels and concerns about the sustainability of dividend payments and the ability to refinance debt saw Real Estate Investment s (REITs) forced to sell down property holdings and undertake capital raisings, causing a very weak performance. REITs declined 71% from peak (October 2007) to trough (May 2009). Similarly to equities, during the financial year REITs had since risen 55% from their lows, but remained down 55% from their previous peak. The one asset class to outperform in an environment of severe risk aversion was products. bank bills and bonds rose strongly as investors sought a safe haven in which to place their funds in the environment of falling rates. As consumer confidence grows and appetite for risk gradually rebuilds, the performance of securities has steadied and equity markets continue to edge higher once again. 2

5 2010 Certainly 2010 will not be without its challenges, but the outlook is refreshingly positive. Market forecasts for global growth have been the subject of significant upgrades in recent months, highlighting the improvement in economic prospects. As activity begins to improve, the task for policymakers will be the timing and speed with which they can begin to remove the significant degree of stimulus in their respective economies. The expected strength in the developing Asian region is a key component of the positive outlook for Australia. Demand for minerals and energy is driving the resurgence in business investment, which was previously expected to be the weak point of the domestic economy in the coming year. At the same time, a rebound in building approvals will see residential construction improve, whilst stronger than expected employment conditions and improved consumer sentiment will help generate continued gains in consumer spending. Improved sentiment is evident not only in spending, but amongst investors as well, which is likely to help equity markets in retracing more of the losses recorded over the previous. Glossary Emerging Market countries which are in a period of rapid growth or industrialisation. ASX 200 stock market index of stocks listed on the Securities Exchange. Its value reflects the total value of all the stocks at that date. MSCI, ex Australia Morgan Stanley Capital Equity Indices. A marketcapitalisation-weighted index designed to provide a broad measure of stock performance throughout the world, with the exception of companies. Includes both emerging and world markets. Real Estate Investment s a security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. The information provided in this Annual Report is based on information as at 30 June 2009, and is derived from sources that are believed to be reliable at that time. 3

6 Investment returns to 30 June Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) Abacus Diversified Income II ABA0008AU No Yes 8.50% 7.00% n/a n/a n/a n/a 7.75% p.a. Aberdeen Equities MGL0114AU No No % -8.66% 23.07% 22.68% 28.31% 8.48% p.a. 8.72% p.a. Aberdeen Fixed Income CRS0004AU No No 11.39% 1.29% 3.80% 3.95% 7.96% 5.62% p.a. 7.24% p.a. Aberdeen Small MGL0001AU No No -7.33% % 32.78% 23.50% 32.38% n/a 17.36% p.a. Companies Aberdeen Capital Growth CRS0002AU Yes Yes -9.71% % 14.12% 18.31% 12.00% 4.14% p.a. 7.45% p.a. Aberdeen Cash CRS0009AU No Yes 5.57% -6.89% -6.33% -5.92% -5.74% -6.09% p.a % p.a. Aberdeen Cash Plus MGL0101AU Yes Yes -6.59% 1.81% 6.26% 5.94% 6.07% 2.57% p.a. 4.00% p.a. Aberdeen China Opportunities ETL0031AU Yes Yes 3.65% -7.76% 24.52% 20.50% 11.67% 9.89% p.a. 9.88% p.a. Aberdeen Classic Series CRS0003AU No Yes % % 26.22% 24.64% 23.55% 7.32% p.a. 9.18% p.a. Equities Aberdeen Classic Series CSA0131AU Yes Yes % % 37.32% 20.93% 27.42% 2.46% p.a % p.a. Small Companies Aberdeen Classic Series CSA0136AU No No % % 4.22% 22.15% -2.55% -3.04% p.a % p.a. Equities Aberdeen Emerging ETL0032AU Yes Yes 1.03% -5.82% 28.09% 23.86% n/a n/a 12.81% p.a. Opportunities Aberdeen Emerging ETL0032AU Yes Yes 1.03% -5.82% 28.09% 23.86% n/a n/a 12.81% p.a. Opportunities Aberdeen Financials EQI0027AU Yes Yes -3.61% % 24.16% 21.79% 23.29% 5.65% p.a. 9.22% p.a. Aberdeen Financials EQI0027AU Yes Yes -3.61% % 24.16% 21.79% 23.29% 5.65% p.a. 9.22% p.a. Aberdeen Fully Hedged CSA0135AU Yes Yes % % 19.68% 20.86% 10.41% -1.02% p.a % p.a. Equities Aberdeen Equity EQI0015AU Yes Yes % % 12.76% 34.13% 9.49% 3.71% p.a. 2.91% p.a. Aberdeen Equity EQI0015AU Yes Yes % % 12.76% 34.13% 9.49% 3.71% p.a. 2.91% p.a. Aberdeen Fixed CRS0006AU No Yes 8.82% 8.46% 4.54% 0.47% 11.96% 6.78% p.a. 7.63% p.a. Income Aberdeen Fixed Income CRS0006AU No Yes 8.82% 8.46% 4.54% 0.47% 11.96% 6.78% p.a. 7.63% p.a. Aberdeen Sustainable Income CRS0001AU Yes Yes n/a n/a n/a n/a n/a n/a -0.79% p.a. Aberdeen Sustainable Income CRS0001AU Yes Yes n/a n/a n/a n/a n/a n/a -0.79% p.a. Acadian Equity Long FSF0789AU No Yes % % 33.39% n/a n/a n/a -3.05% p.a. Short Acadian Wholesale Equity FSF0787AU No Yes % % 27.83% n/a n/a n/a -2.46% p.a. Acadian Wholesale Global Equity FSF0788AU Yes Yes % % 9.42% n/a n/a n/a % p.a. Long Short Acorn Capital Wholesale Microcap AUS0108AU Yes Yes % % 53.64% 30.57% n/a 7.61% p.a % p.a. Addwealth Achiever TAM0001AU Yes Yes n/a n/a n/a n/a n/a n/a 11.10% p.a. Advance Asian Equity - ADV0083AU Yes Yes -4.01% % 17.69% 30.52% n/a 6.35% p.a. 6.35% p.a. Wholesale Advance Geared Equity ADV0078AU Yes Yes % % 50.79% 26.39% 41.48% 1.29% p.a. 5.72% p.a. - Wholesale Advance Smaller ADV0075AU No No % % 32.54% 16.35% 27.09% 5.96% p.a. 9.92% p.a. Companies Advance Concentrated ADV0115AU No Yes % % 27.52% n/a n/a n/a -2.50% p.a. Equity Wholesale Advance Global Alpha ADV0117AU Yes Yes % % 7.54% n/a n/a n/a -5.79% p.a. Advance Imputation ADV0046AU Yes Yes % % 23.13% 16.89% 20.62% 5.86% p.a. 7.95% p.a. Wholesale Advance Sharemarket ADV0047AU Yes Yes % % 10.43% 11.98% -0.44% -5.79% p.a % p.a. - Wholesale Advance Smaller Companies Multi-Blend Wholesale ADV0096AU Yes Yes % % 52.76% 20.41% n/a n/a 0.24% p.a.

7 Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) All Star IAM Share VEN0006AU No Yes % n/a n/a n/a n/a n/a % p.a. All Star Income VEN0007AU No Yes -8.28% n/a n/a n/a n/a n/a -7.86% p.a. Alpha Strategic Class B Units TOL0055AU Yes Yes 6.14% 8.84% 16.07% n/a n/a n/a 11.56% p.a. AMP Capital Balanced Growth AMP0441AU Yes Yes % % 16.91% 18.23% 15.36% 3.24% p.a. 3.15% p.a. Class A AMP Capital China 2 AMP1009AU Yes Yes 4.06% % 21.72% n/a n/a n/a -0.94% p.a. AMP Capital Conservative AMP0443AU Yes Yes -5.44% -4.31% 10.25% 10.01% 10.59% 3.95% p.a. 4.70% p.a. Class A AMP Capital Core Infrastructure AMP1179AU Yes Yes -5.73% n/a n/a n/a n/a n/a -4.43% p.a. Class A AMP Capital Core Property AMP1015AU Yes Yes % -9.97% 20.59% n/a n/a n/a -1.58% p.a. Class A AMP Capital Core Strategies AMP0279AU No No 7.66% 2.55% 3.87% 3.78% 7.56% 5.06% p.a. 7.22% p.a. AMP Capital Enhanced Yield AMP0685AU Yes Yes 1.98% 6.37% 8.86% 7.92% 7.52% 6.50% p.a. 7.51% p.a. Class A AMP Capital Equity Class A AMP0370AU Yes Yes % -9.65% 22.56% 27.94% 27.83% 8.00% p.a. 6.89% p.a. AMP Capital Global Property AMP0974AU Yes Yes % % 20.69% 24.56% n/a n/a -4.28% p.a. Securities Class A AMP Capital Global Technology AMP0365AU No No % % 5.33% 5.96% -8.33% -7.77% p.a % p.a. Class A Units AMP Capital Listed Property AMP0255AU Yes Yes % % 26.98% 18.21% 18.29% -8.74% p.a. 2.61% p.a. Class A AMP Capital Listed Property s AMP0269AU No No % % 27.47% 18.78% 18.88% -8.25% p.a. 4.24% p.a. Ordinary Units AMP Capital Responsible Investment AMP0452AU Yes Yes % % 17.32% n/a n/a n/a 1.24% p.a. Balanced - Class A AMP Capital Responsible Investment AMP0455AU Yes Yes % % 9.44% 23.14% -1.00% -1.78% p.a % p.a. Leaders Share Class A AMP Capital Small Companies AMP0446AU Yes Yes % % 52.54% 30.30% 41.36% 10.11% p.a % p.a. Class A AMP Capital Structured High Yield AMP1014AU No Yes 8.02% 11.78% 9.63% 10.13% n/a n/a 9.92% p.a. Class A AMP Capital Structured High Yield WID2 No No 8.26% 12.11% 10.03% 10.01% 9.13% 9.90% p.a. 8.57% p.a. Ord Class AMP Capital Sustainable Future AMP0449AU Yes Yes % % 27.19% 30.96% 24.29% 6.13% p.a. 7.07% p.a. Share Class A AMP Capital Wholesale AMP0258AU No No % % 23.39% 26.54% 27.10% 7.51% p.a. 8.79% p.a. Share Class A AMP Bond AMP0254AU No Yes -1.31% -1.25% 5.63% 1.86% 10.75% 3.03% p.a. 5.00% p.a. Class A Antares Lodestar Absolute Return ANT0001AU Yes Yes % -0.47% n/a n/a n/a n/a -6.49% p.a. APN AREIT APN0008AU No Yes n/a n/a n/a n/a n/a n/a n/a APN Direct Property APN0005AU No Yes % 3.64% 18.32% n/a n/a n/a 1.18% p.a. APN Diversified Property APN0006AU No Yes % -4.52% 17.05% n/a n/a n/a -4.27% p.a. APN Property for APN0003AU No Yes % % 17.17% 10.59% n/a n/a -7.73% p.a. Income APN National Storage Property APN0002AU Yes Yes % 2.70% 33.65% 9.36% 30.54% *8.25% 7.09% p.a. APN Property For Income APN0001AU No Yes % % 27.58% 18.83% 23.56% -1.63% p.a. 6.70% p.a. APN Property For Income No. 2 APN0004AU Yes Yes % % 26.43% 16.46% n/a n/a % p.a. Armytage Enhanced Leaders ETL0148AU No Yes % -9.66% n/a n/a n/a n/a % p.a. Arrowstreet Emerging Markets MAQ0477AU Yes Yes % -8.39% n/a n/a n/a n/a -8.69% p.a. Arrowstreet Global Equity MAQ0464AU Yes Yes % % n/a n/a n/a n/a % p.a. Arrowstreet Global Equity (Hedged) MAQ0079AU Yes Yes 3.86% % 22.91% 16.08% 0.71% 2.81% p.a. 3.65% p.a. 5

8 Investment returns to 30 June 2009 continued Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) Artefact Global 1 PER0362AU No No % -3.70% 3.26% n/a n/a n/a % p.a. Artefact Global 2 PER0363AU No No % -3.70% 3.26% n/a n/a n/a % p.a. Artefact Global 3 PER0396AU No No % -3.70% 3.26% n/a n/a n/a % p.a. Artefact Global 4 PER0435AU No No % n/a n/a n/a n/a n/a % p.a. Aspen Parks Wholesale Property APZ0003AU No Yes -8.98% n/a n/a n/a n/a n/a -6.64% p.a. Augustus Absolute Return (AU) AFM0002AU Yes Yes 19.06% 7.38% n/a n/a n/a n/a 8.80% p.a. Ausbil Geared Equity AAP0002AU Yes Yes % % n/a n/a n/a n/a % p.a. Ausbil Investment AAP0103AU Yes Yes % % 24.82% 30.22% 34.06% 9.96% p.a % p.a. Active Equity Ausbil Investment AAP0104AU Yes Yes % % 28.44% 32.77% 37.93% 9.63% p.a % p.a. Emerging Leaders Ethical Equities AUG0002AU No Yes -2.10% % 36.93% 13.89% 19.73% 9.70% p.a. 9.40% p.a. Ethical Large Co Share AUG0004AU No Yes -9.30% % 16.00% 15.50% 23.77% 4.10% p.a. 7.80% p.a. Unity Investments Vianova AUS0033AU No Yes 8.41% 9.32% n/a n/a n/a n/a 8.17% p.a. Core Plus Wholesale Units Unity Investments Vianova AUS0009AU No Yes 9.70% 6.26% 5.05% n/a n/a n/a 6.58% p.a. Strategic Fixed Interest Wholesale Units Unity Platypus AUS0030AU Yes Yes % % 37.07% n/a n/a n/a -1.32% p.a. Equities Wholesale Units Unity Wholesale High Yield AUS0005AU Yes Yes 5.55% 7.92% 7.92% 8.25% n/a n/a 7.48% p.a. Mortgage Unity Wholesale Mortgage AUS0116AU Yes Yes 6.09% 7.07% 6.61% 6.01% 6.06% 6.37% p.a. 6.28% p.a. Income Unity Wholesale Property YOC0100AU No Yes % -0.37% 16.50% 12.49% 11.69% 5.37% p.a. 7.20% p.a. Income Aviva Investors Shares PPL0104AU No No % % 25.46% 25.30% 21.74% 7.00% p.a. 7.50% p.a. Aviva Investors Dividend Builder PPL0002AU No Yes -9.84% % 30.49% n/a n/a n/a -0.94% p.a. Aviva Investors Elite PPL0115AU No Yes % -8.83% 24.71% 25.54% 26.03% 9.32% p.a % p.a. Opportunities Aviva Investors High Growth PPL0106AU Yes Yes % -4.52% 22.43% 23.23% 24.19% 8.85% p.a % p.a. Shares Aviva Investors Income Plus PPL0103AU No No -2.45% % 14.08% 6.86% 11.61% 4.87% p.a. 5.55% p.a. Growth Aviva Investors Listed Property NFS0209AU Yes Yes % % 27.96% 17.87% 19.77% -4.15% p.a. 5.69% p.a. Aviva Investors Premier Fixed Income PPL0114AU No Yes 8.03% 4.68% 4.25% 3.47% 8.64% 6.07% p.a. 6.29% p.a. Aviva Investors Small Companies PPL0107AU Yes Yes % -5.46% 46.74% 31.72% 26.16% 10.70% p.a % p.a. AXA Income NML0010AU No No 4.43% 6.25% 5.45% 4.74% 4.87% 5.15% p.a. 7.40% p.a. AXA Wholesale Equity NML0143AU No Yes % % 29.89% 18.42% 25.25% 5.54% p.a. 6.86% p.a. Industrial AXA - Wholesale Equity NML0061AU No Yes % % 27.30% 25.87% 32.42% 7.44% p.a. 9.98% p.a. Value AXA - Wholesale Global Equity NMF0002AU Yes Yes % % 7.94% 22.25% n/a n/a -3.74% p.a. Core AXA - Wholesale Global Equity NML0318AU Yes Yes % % 4.63% 22.68% 0.88% -7.41% p.a % p.a. Growth AXA - Wholesale Global Equity NML0348AU Yes Yes % % 16.59% 26.32% 7.47% -5.56% p.a % p.a. Value AXA Wholesale Income NML0257AU No No 4.85% 6.67% 5.87% 5.16% 5.29% 5.57% p.a. 5.45% p.a. AXA Wholesale Monthly NML0316AU Yes Yes 5.66% 7.62% 6.72% 6.23% 6.13% 6.47% p.a. 6.25% p.a. Income AXA Wholesale Property NML0001AU Yes Yes % -0.78% 17.73% 14.58% 14.12% 5.32% p.a. 9.56% p.a. Baker Steel Gold SLT0006AU No Yes % % 0.91% 85.59% 5.42% 7.97% p.a. 4.69% p.a. Barclays Fixed Interest BGL0105AU Yes Yes 10.71% 4.16% 3.76% 3.22% 7.62% 5.86% p.a. 5.37% p.a. Index Barclays Global Investments Prop BGL0108AU No Yes % % 25.56% 17.52% 18.61% -7.63% p.a. 0.39% p.a. Sec Index Barclays Global Markets BGL0045AU Yes Yes -0.93% 3.34% 17.78% 5.94% 11.60% 7.35% p.a. 6.29% p.a. Barclays Equity Index BGL0106AU Yes Yes % % 7.38% 19.85% -0.14% -3.21% p.a % p.a. 6

9 Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) Barclays Share BAR0817AU Yes Yes % % 7.75% 20.96% 2.57% -3.96% p.a. 0.05% p.a. Barclays Share BGL0109AU Yes Yes % % 23.36% 18.28% 15.69% -0.97% p.a. 4.79% p.a. (Hedged) Barclays Managed Investment s BGL0034AU Yes Yes % % 28.41% 23.61% 25.68% 6.55% p.a. 7.83% p.a. Equity Index Barclays Managed Investment s BAR0814AU Yes Yes % % 28.72% 27.00% 26.24% 6.26% p.a. 9.01% p.a. Share Barclays Managed Investment s BAR0813AU Yes Yes % % 16.36% 17.24% 14.45% 2.84% p.a. 6.39% p.a. Diversified Growth Barclays Managed Investment s BAR0811AU Yes Yes -5.53% -2.43% 9.48% 9.34% 10.09% 3.97% p.a. 5.85% p.a. Diversified Stable Basis Aust-Rim Diversified BCF0100AU No No % % -5.43% 14.42% 11.26% % p.a % p.a. Basis Yield BCF0001AU No No n/a n/a n/a n/a n/a n/a n/a Becton Diversified Property BEC0001AU No Yes % 7.45% 18.24% n/a n/a n/a 2.10% p.a. BlackRock Asset Allocation Alpha MAL0030AU Yes Yes 28.55% 33.70% 3.69% n/a n/a n/a 20.47% p.a. Class D BlackRock Quant MAL0013AU No Yes % % 27.95% 21.86% n/a n/a 2.26% p.a. Strategies D Class BlackRock Combined Property MAL0008AU No Yes % % 21.25% 17.58% 17.47% 0.96% p.a. 3.97% p.a. Income (Aust) - Class D Units BlackRock Diversified Credit MAL0011AU No No 0.21% -2.33% 7.05% 6.25% n/a n/a n/a Class D BlackRock Global Allocation MAL0018AU Yes Yes % 2.82% 16.22% n/a n/a n/a 4.40% p.a. (Aust) Class D BlackRock Global High Conviction MAL0136AU Yes Yes % -3.55% 20.49% 16.62% 12.93% 0.81% p.a. 0.57% p.a. Hedged (Class D) BlackRock Global High Conviction MAL0134AU Yes Yes % % 5.31% 19.32% 0.24% -1.13% p.a % p.a. Unhedged (Class D) BlackRock Global Small Cap MAL0133AU Yes Yes % % 3.63% 26.22% 1.94% 0.74% p.a % p.a. Class D BlackRock Hedged Global Small Cap MAL0135AU Yes Yes % -4.22% 18.36% 23.91% 14.99% 3.38% p.a. 3.78% p.a. - Class D BlackRock Monthly Income MAL0012AU No Yes % -7.01% 8.82% 6.91% n.a. n.a % p.a. Class D BlackRock Property Securities MAL0151AU No Yes % % 23.72% 18.32% 18.59% -9.02% p.a % p.a. (Aust) Class D BlackRock Wholesale PWA0823AU Yes Yes % -7.26% 24.30% 29.17% 28.16% 9.28% p.a. 9.20% p.a. Share BlackRock Wholesale Balanced PWA0822AU Yes Yes % -5.34% 15.19% 18.74% 13.77% 5.11% p.a. 7.43% p.a. BlackRock Wholesale Global High PWA0824AU Yes Yes % % 8.58% 16.89% 0.96% -0.65% p.a. 4.85% p.a. Conviction BlackRock Wholesale Managed PWA0821AU Yes Yes % -4.60% 12.46% 8.54% 10.47% 0.24% p.a. 5.20% p.a. Income BT Global Return RFA0028AU No No % 1.38% 13.97% 7.74% 8.02% -0.31% p.a. 2.21% p.a. BT Wholesale Active Balanced RFA0815AU Yes Yes % % 14.95% 18.03% 14.90% 3.73% p.a. 7.26% p.a. BT Wholesale Asian Share BTA0054AU Yes Yes -4.51% % 25.90% 26.51% 17.70% 8.19% p.a. 1.88% p.a. BT Wholesale Share BTA0055AU No Yes % % 25.49% 27.41% 28.39% 8.94% p.a. 8.50% p.a. BT Wholesale Balanced Returns BTA0806AU Yes Yes % -9.91% 13.83% 16.48% 13.59% 3.77% p.a. 6.83% p.a. BT Wholesale Conservative BTA0805AU Yes Yes -3.67% -3.49% 9.02% 9.48% 10.38% 4.10% p.a. 8.14% p.a. Outlook BT Wholesale Core RFA0818AU No Yes % % 25.47% 27.41% 28.09% 9.00% p.a % p.a. Share BT Wholesale Core Global Share RFA0821AU Yes Yes % % 6.38% 19.50% 2.28% -3.84% p.a. 2.54% p.a. BT Wholesale Ethical Share RFA0025AU No Yes % % 32.00% 28.83% 30.56% 9.38% p.a. 7.98% p.a. BT Wholesale European Share BTA0124AU Yes Yes % % 17.49% 26.63% 8.29% 0.43% p.a. 0.72% p.a. BT Wholesale Fixed Interest RFA0813AU No Yes 6.30% 3.80% 3.68% 3.42% 6.69% 5.27% p.a. 6.89% p.a. BT Wholesale Focus RFA0059AU No Yes % % 30.66% 31.27% n/a n/a 6.63% p.a. Share BT Wholesale Future Goals BTA0125AU Yes Yes % % 16.67% 20.85% 15.98% 3.32% p.a. 2.76% p.a. BT Wholesale Imputation RFA0103AU Yes Yes % % 32.56% 29.33% 29.74% 9.88% p.a % p.a. BT Wholesale Share BTA0056AU Yes Yes % % 6.38% 20.00% 2.00% -3.91% p.a. 1.58% p.a. BT Wholesale Property Investment RFA0817AU No Yes % % 25.82% 17.14% 16.54% -5.84% p.a. 6.06% p.a. BT Wholesale Property Securities BTA0061AU No Yes % % 25.83% 17.94% 16.95% -5.61% p.a. 3.43% p.a. 7

10 Investment returns to 30 June 2009 continued Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) BT Wholesale Smaller RFA0819AU Yes Yes % % 41.92% 27.47% 42.43% 9.80% p.a % p.a. Companies BT Wholesale Tax Effective Income RFA0102AU Yes Yes % -9.21% 20.40% 17.50% 18.29% 5.97% p.a. 7.74% p.a. BT Wholesale Technology BTA0158AU No No -9.91% % 15.83% 9.23% % -2.77% p.a % p.a. BT Wholesale Value Global RFA0109AU No No % % 17.89% 18.80% 3.42% -6.91% p.a % p.a. Share Centro Direct Property MCS0011AU No Yes % -9.60% 16.58% 18.24% 21.16% -0.01% p.a. 3.44% p.a. Centro Direct Property MCS0001AU No Yes % % 11.01% n/a n/a n/a % p.a. Challenger Global Infrastructure HOW0031AU No No n/a 7.14% 18.94% n/a n/a n/a n/a Challenger Howard Wholesale HOW0005AU Yes Yes 6.37% 7.31% 6.78% 6.34% 6.34% 6.63% p.a. 6.37% p.a. Mortgage Challenger Wholesale Asian Share HBC0010AU Yes Yes -3.55% % 29.01% 27.21% 15.53% 8.98% p.a. 2.58% p.a. Challenger Wholesale PAM0001AU Yes Yes % % 30.11% 26.29% 28.01% 5.24% p.a % p.a. Share Challenger Wholesale HBC0011AU Yes Yes -7.65% % 24.35% n/a n/a n/a 2.19% p.a. Share Income Challenger Wholesale High Yield HOW0141AU Yes Yes % % 7.92% 6.97% 10.89% -3.12% p.a. 0.26% p.a. Challenger Wholesale Hybrid HBC0013AU Yes Yes % % 19.43% 12.63% 11.39% 0.93% p.a. 8.20% p.a. Property Challenger Wholesale Microcap HOW0027AU Yes Yes % % 68.32% 28.56% n/a n/a 1.72% p.a. Challenger Wholesale Property HBC0008AU Yes Yes % % 24.43% 18.63% 17.54% -7.20% p.a. 5.42% p.a. Securities Challenger Wholesale Select HOW0026AU No Yes % % 24.35% n/a n/a n/a -0.62% p.a. Share Challenger Wholesale Smaller HOW0016AU Yes Yes % % 52.18% 11.05% 17.35% 7.49% p.a % p.a. Companies Challenger Wholesale Socially HOW0121AU No Yes % % 29.68% 19.19% 26.65% 2.26% p.a. 4.84% p.a. Responsive Share Charter Hall Diversified Property CHF0001AU No Yes % 18.20% 13.22% n/a n/a -1.61% p.a % p.a. Chifley Investment CFS0003AU Yes Yes % % 26.48% 22.14% 26.01% 6.65% p.a. 8.41% p.a. Equities Chifley Investment CFS0005AU Yes Yes 10.74% 5.15% 3.28% 3.33% 6.17% 5.70% p.a. 5.74% p.a. Fixed Income (Sovereign) Chifley Investment CFS0008AU Yes Yes % % 9.01% 22.18% 7.21% -3.53% p.a % p.a. Equities Chifley Investment CFS0010AU Yes Yes 10.79% 5.29% 6.10% 1.01% 11.09% 6.79% p.a. 6.54% p.a. Fixed Income (Credit) Colonial First State 452 Wholesale FSF0079AU No Yes -8.17% % 27.92% 15.92% 21.62% 5.64% p.a. 9.23% p.a. Share Colonial First State Acadian Global FSF0710AU Yes Yes % % 10.46% 27.96% n/a n/a -5.87% p.a. Equity Colonial First State Bricks CML0002AU No No 6.61% 5.76% 5.23% 5.15% 5.18% 5.59% p.a. 5.45% p.a. & Mortar Colonial First State Colliers FSF0454AU No Yes % % 27.19% 24.64% 48.03% -0.19% p.a. 1.51% p.a. Property Securities Colonial First State Global Resources FSF0698AU Yes Yes % 14.77% 13.91% n/a n/a n/a 5.52% p.a. Long Short Colonial First State PM Capital FSF0455AU No Yes -9.35% % 24.37% 28.36% 17.33% 3.61% p.a. 4.26% p.a. Share Colonial First State Wholesale FSF0027AU No Yes 10.37% 4.03% 3.22% 3.27% 7.71% 5.68% p.a. 6.77% p.a. Bond Colonial First State Wholesale FSF0149AU No Yes 3.58% 1.30% 4.29% 3.90% 7.44% 4.08% p.a. 5.21% p.a. Corporate Debt Colonial First State Wholesale FSF0002AU No Yes % % 21.85% 23.78% 28.91% 7.14% p.a % p.a. Share Colonial First State Wholesale CFM0404AU No Yes % -8.02% 28.12% 27.85% 28.24% 10.09% p.a % p.a. Share - Core Colonial First State Wholesale FSF0040AU Yes Yes -6.37% -8.08% 10.16% 12.79% 10.93% 3.47% p.a. 6.12% p.a. Balanced Colonial First State Wholesale FSF0033AU Yes Yes -1.45% -2.43% 9.29% 10.61% 9.48% 4.94% p.a. 6.77% p.a. Conservative Colonial First State Wholesale FSF0008AU Yes Yes % % 14.47% 15.72% 12.89% 2.68% p.a. 6.91% p.a. Diversified Colonial First State Wholesale Geared Global Share FSF0170AU Yes Yes % % 10.94% 23.48% -3.64% -8.61% p.a % p.a. 8

11 Investment name APIR Available in Super Accumulator Colonial First State Wholesale Geared Share Colonial First State Wholesale Global Credit Income Colonial First State Wholesale Global Resources Colonial First State Wholesale Global Share Colonial First State Wholesale High Growth Colonial First State Wholesale Income Colonial First State Wholesale Index Property Securities Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) FSF0043AU Yes Yes % % 43.23% 55.81% 62.47% 9.05% p.a % p.a. FSF0084AU Yes Yes -3.31% 1.91% 6.76% 6.47% 6.28% 3.55% p.a. 4.67% p.a. FSF0038AU Yes Yes % 20.87% 24.59% 59.43% 21.57% 12.50% p.a % p.a. FSF0047AU Yes Yes % % 9.70% 17.97% -0.31% -2.96% p.a. 1.06% p.a. FSF0498AU Yes Yes % % 19.44% 23.09% 12.45% 2.55% p.a. 4.32% p.a. FSF0139AU No Yes 2.08% 5.26% 6.73% 6.07% 5.87% 5.19% p.a. 5.57% p.a. CMI0105AU No Yes % % 25.06% 17.68% 17.83% -8.16% p.a. 2.01% p.a. Colonial First State Wholesale FSF0004AU No Yes % % 23.53% 22.71% 23.07% -9.92% p.a. 4.02% p.a. Property Securities Colonial First State Wholesale Small CMI0111AU Yes Yes % % 48.69% 36.61% 41.82% 11.80% p.a. 9.88% p.a. Companies - Core Colonial Global Health & FSF0146AU No No -2.12% % 0.25% 18.43% -3.39% -1.36% p.a % p.a. Biotechnology Colonial Global Technology & FSF0143AU No No % % 13.10% 13.14% -3.82% -3.98% p.a % p.a. Communications Concord Equity MAQ0424AU Yes Yes % % 24.95% n/a n/a n/a 3.38% p.a. CORALS Commodities AFM0004AU Yes Yes -5.88% n/a n/a n/a n/a n/a -5.88% p.a. Credit Suisse Global Income CSA0038AU No Yes % -2.87% 7.31% 8.08% 8.01% 0.48% p.a. 1.40% p.a. Credit Suisse Property CRS0007AU No Yes % % 25.38% 15.37% 19.36% -7.12% p.a. 5.83% p.a. Credit Suisse Syndicated Loan CSA0046AU No Yes -5.36% 0.84% 9.38% 8.06% n/a n/a 4.42% p.a. Cromwell Property CRM0005AU No Yes n/a 5.48% 8.61% n/a n/a n/a n/a Custom Choice Wholesale Boutique HOW0019AU Yes Yes % % 26.90% 20.00% 25.15% 7.01% p.a. 8.36% p.a. Share Portfolio DDH Equities DDH0003AU Yes Yes % % n/a n/a n/a n/a -8.14% p.a. DDH Global Fixed Interest Alpha DDH0007AU Yes Yes 12.16% 8.34% n/a n/a n/a n/a 11.23% p.a. Dimensional Core Equity DFA0003AU Yes Yes % % n/a n/a n/a n/a -4.09% p.a. Dimensional Large DFA0103AU Yes Yes % % 27.13% 23.70% 24.93% 6.85% p.a. 6.52% p.a. Company Dimensional Small DFA0104AU Yes Yes % % 46.21% 23.94% 23.70% 8.06% p.a. 8.59% p.a. Company Dimensional Value DFA0101AU Yes Yes % % 33.37% 20.84% 25.28% 7.67% p.a % p.a. Dimensional Emerging Markets DFA0107AU Yes Yes -8.96% % 30.96% 31.42% 22.24% 10.93% p.a. 5.55% p.a. Dimensional Five-Year Diversified DFA0108AU Yes Yes 5.68% 7.31% 6.03% 1.98% 9.91% 6.15% p.a. 6.51% p.a. Fixed Interest Dimensional Global Core Equity - DFA0009AU Yes Yes n/a n/a n/a n/a n/a n/a 7.39% p.a. AUD Hedged Dimensional Global Core Equity Unhedged DFA0004AU Yes Yes % % n/a n/a n/a n/a % p.a. Dimensional Global Large Company DFA0105AU Yes Yes % % 7.69% 20.15% -0.89% -3.29% p.a % p.a. Dimensional Global Real Estate DFA0005AU Yes Yes % n/a n/a n/a n/a n/a % p.a. Dimensional Global Small Company DFA0106AU Yes Yes % % 7.24% 24.22% 3.71% -2.46% p.a. 0.44% p.a. Dimensional Global Value DFA0102AU Yes Yes % % 11.68% 25.87% 5.58% -2.81% p.a. 0.57% p.a. Dimensional Short Term Fixed DFA0100AU Yes Yes 5.39% 7.18% 6.22% 5.43% 5.53% 5.94% p.a. 5.47% p.a. Interest Dimensional Strategic Equity DFA0008AU Yes Yes n/a n/a n/a n/a n/a n/a 13.99% p.a. Dimensional Strategic Global Property Dimensional Strategic Equity DFA0006AU No Yes n/a n/a n/a n/a n/a n/a % p.a. DFA0007AU Yes Yes n/a n/a n/a n/a n/a n/a 0.90% p.a. Dimensional Two-Year Diversified DFA0002AU Yes Yes 6.49% 7.24% 5.84% n/a n/a n/a 6.22% p.a. Fixed Interest Donaldson Burston - THS Partners ETL0096AU Yes Yes % n/a n/a n/a n/a n/a % p.a. Global Equity DWS Global Equity Agribusiness MGL0019AU Yes Yes % 2.14% n/a n/a n/a n/a -8.54% p.a. DWS Global Equity Thematic (unhedged) MGL0004AU Yes Yes % % n/a n/a n/a n/a % p.a. 9

12 Investment returns to 30 June 2009 continued Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) DWS Global Equity Thematic MGL0018AU Yes Yes % % 15.13% 36.61% 7.83% 0.99% p.a. 5.71% p.a. Fully Hedged DWS Strategic Value DEU0109AU Yes Yes % 3.74% 13.65% 14.30% 7.16% 3.17% p.a. 4.91% p.a. EII Global Property MAQ0463AU Yes Yes % % 30.55% n/a n/a n/a % p.a. Eley Griffiths Small Group EGG0001AU Yes Yes % % 38.85% 29.86% 35.71% 10.17% p.a % p.a. Companies EQT Intrinsic Value MMC0110AU Yes Yes % % 23.52% 16.44% 14.73% 0.64% p.a. 4.61% p.a. Sharemarkets EQT Intrinsic Value ETL0057AU Yes Yes % % 15.26% n/a n/a n/a -2.14% p.a. Sharemarkets Plus EQT PIMCO Wholesale Diversified ETL0016AU No Yes 6.38% 4.67% 3.04% 2.17% 9.68% 5.15% p.a. 5.97% p.a. Fixed Interest EQT PIMCO Wholesale Global ETL0018AU No Yes 0.63% 7.90% 3.85% 1.91% 11.78% 5.14% p.a. 6.44% p.a. Bond EQT PIMCO Wholesale Global Credit ETL0019AU No Yes 10.88% 5.50% 6.27% 1.28% 11.27% 6.98% p.a. 7.15% p.a. EQT SGH LaSalle Global Listed ETL0005AU No Yes % % 16.81% 26.37% 33.51% -4.93% p.a % p.a. Property Securities EQT SGH Wholesale Absolute ETL0030AU Yes Yes % -2.23% 19.48% 31.19% 22.75% 3.64% p.a. 8.11% p.a. Return EQT Wholesale Small ETL0118AU No No % % 29.46% 19.27% 10.82% -2.80% p.a % p.a. Companies Fidelity America FID0009AU No No n/a % -3.54% n/a n/a n/a n/a Fidelity Equities FID0008AU Yes Yes % -9.76% 30.26% 35.27% 33.81% 11.89% p.a % p.a. Fidelity China FID0011AU Yes Yes 16.07% -9.23% 57.56% n/a n/a n/a 25.94% p.a. Fidelity Global Equities FID0007AU Yes Yes % % 9.32% 18.48% 7.02% -0.22% p.a. 0.41% p.a. Fidelity India FID0015AU Yes Yes 2.47% % 37.13% n/a n/a n/a 7.29% p.a. Fidelity Japan FID0004AU Yes Yes -4.33% % % 41.45% % -6.27% p.a. 0.99% p.a. Fiducian India FPS0013AU Yes Yes 15.52% n/a n/a n/a n/a n/a % p.a. Five Oceans Wholesale World HOW0032AU Yes Yes 0.63% % 9.45% n/a n/a n/a n/a Fortis Investments ARO0011AU Yes Yes -9.00% % 25.40% 26.69% 33.27% 10.17% p.a. 7.95% p.a. Equity Fortis Investments Concentrated ARO0015AU Yes Yes % % 24.41% n/a n/a n/a -0.59% p.a. Equity Fortis Investments Global Equity ARO0006AU Yes Yes % % 2.02% 16.53% -0.10% -6.06% p.a % p.a. Fortis Investments High Income ARO0014AU No Yes % % 19.34% 15.17% n/a n/a -9.61% p.a. Global Property Securities Generation Global Sustainability FSF0908AU Yes Yes -3.55% n/a n/a n/a n/a n/a % p.a. GMO Equity GMO0100AU Yes Yes % % 29.00% 24.87% 26.67% 33.35% p.a. 9.00% p.a. GMO Small Companies GMO0101AU Yes Yes % % 41.50% 25.46% 29.25% % p.a. 9.36% p.a. GMO Emerging Markets GMO0102AU Yes Yes % % 27.41% 40.51% 29.14% 59.03% p.a. 8.05% p.a. GMO Global Equity GMO0103AU Yes Yes % % 7.59% 19.76% 3.23% % 4.77% p.a. p.a. GMO Hedged Global Equity GMO0004AU Yes Yes % % 22.98% n/a n/a n/a -5.15% p.a. Goldman Sachs JB Were Emerging Leaders Wholesale JBW0010AU Yes Yes % % 37.01% 12.12% 35.93% 4.22% p.a. 9.63% p.a. Goldman Sachs JB Were Global Alpha Goldman Sachs JBWere Equities Wholesale Goldman Sachs JBWere Infrastructure Goldman Sachs JBWere Core Plus Fixed Income Goldman Sachs JBWere Diversified Growth Wholesale JBW0025AU No No n/a n/a n/a n/a n/a n/a n/a JBW0009AU Yes Yes % -8.58% 23.57% 21.57% 31.07% 9.28% p.a % p.a. JBW0030AU Yes Yes % % 35.38% n/a n/a n/a 0.81% p.a. JBW0038AU No No 10.30% n/a n/a n/a n/a n/a 6.70% p.a. JBW0017AU Yes Yes % % 13.30% 16.93% 14.50% 3.57% p.a. 5.34% p.a. 10 Goldman Sachs JBWere Emerging Leaders Wholesale Goldman Sachs JBWere Enhanced Income Wholesale Goldman Sachs JBWere Global Flex Goldman Sachs JBWere Global Health & Biotech Wholesale Goldman Sachs JBWere Global Small Companies Wholesale JBW0010AU Yes Yes % % 37.01% 12.12% 35.93% 4.22% p.a. 9.63% p.a. JBW0018AU No Yes % -8.13% 6.95% 6.54% 7.89% -0.28% p.a. 0.89% p.a. JBW0027AU Yes Yes % % 5.79% n/a n/a n/a -7.51% p.a. JBW0111AU Yes Yes -3.00% % -0.74% 17.02% -4.25% -2.42% p.a % p.a. JBW0103AU Yes Yes % % 6.29% 24.74% 6.05% -3.93% p.a. 1.72% p.a.

13 Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) Goldman Sachs JBWere Global JBW0034AU Yes Yes % % n/a n/a n/a n/a % p.a. Spectrum Goldman Sachs JBWere Hedged JBW0028AU Yes Yes % % 20.82% n/a n/a n/a -7.30% p.a. Global Flex Goldman Sachs JBWere Income Plus JBW0016AU No Yes 1.00% -2.07% 8.86% 7.98% 7.37% 4.54% p.a. 5.80% p.a. Wholesale Goldman Sachs JBWere JBW0014AU Yes Yes % % 5.61% 19.80% -1.45% -2.30% p.a. 1.36% p.a. Wholesale Goldman Sachs JBWere JBW0021AU Yes Yes % -3.82% 19.52% 16.78% 11.09% 2.07% p.a. 4.25% p.a. Wholesale (Hedged) Goldman Sachs JBWere Leaders JBW0011AU No No % -8.20% 23.09% 22.92% 29.31% 9.11% p.a % p.a. Goldman Sachs JBWere Multi- Strategy JBW0026AU Yes Yes n/a -8.48% 19.37% n/a n/a n/a n/a Goldman Sachs JBWere Property Securities Wholesale Grant Samuel Epoch Global Equity Shareholder Yield (Hedged) Grant Samuel Epoch Global Equity Shareholder Yield (Unhedged) JBW0108AU Yes Yes % % 27.85% 19.47% 20.30% % 1.39% p.a. p.a. GSF0001AU Yes Yes % n/a n/a n/a n/a n/a % p.a. GSF0002AU Yes Yes -7.53% n/a n/a n/a n/a n/a % p.a. Greencape Wholesale Broadcap HOW0034AU Yes Yes % % n/a n/a n/a n/a n/a Greencape Wholesale High HOW0035AU Yes Yes % -5.92% n/a n/a n/a n/a n/a Conviction GVI Global Industrial Share TGP0004AU Yes Yes % -8.09% 22.04% 19.05% n/a n/a 0.28% p.a. HFA Partners HFL0007AU No No % -5.20% n/a n/a n/a n/a % p.a. HFA Wholesale Diversified HFL0104AU Yes Yes % -0.15% 17.73% 8.03% 9.35% 1.43% p.a. 3.41% p.a. Investment (Hedged) HFA Wholesale Shares HFL0108AU Yes Yes 0.11% -1.12% 20.58% 7.53% 9.85% 7.11% p.a. 5.62% p.a. (Hedged) Hunter Hall Value HHA0001AU Yes Yes % % 38.38% 17.93% 4.73% 2.68% p.a. 7.08% p.a. Hunter Hall Global Ethical HHA0002AU Yes Yes % % 17.95% 31.54% 9.89% 2.17% p.a. 3.74% p.a. Hunter Hall Value Growth HOW0002AU Yes Yes % % 29.60% 30.11% 12.38% 5.32% p.a % p.a. Hyperion Growth BNT0003AU Yes Yes -1.28% % 31.11% 33.52% 30.85% 11.37% p.a % p.a. Companies Hyperion Small Growth BNT0101AU Yes Yes 12.57% % 47.26% 32.22% 24.14% 12.12% p.a % p.a. Companies Income Plus BEG0001AU No Yes 5.47% -0.22% 8.70% 8.21% 9.42% 6.30% p.a. 6.49% p.a. ING Blue Chip Imputation MMF0012AU No No % % 26.16% 20.27% 25.84% 5.32% p.a. 9.17% p.a. ING Blue Chip Imputation MMF0340AU Yes Yes % % 27.14% 21.17% 26.78% 6.14% p.a. 6.03% p.a. Wholesale ING Diversified High Yield MMF0708AU Yes Yes % -2.52% 7.23% 6.13% 6.62% 1.14% p.a. 1.14% p.a. ING Resource Opportunities MMF0064AU No No % 14.68% 35.70% 61.18% 46.36% 16.27% p.a % p.a. ING Tax Effective Income AJF0003AU Yes Yes % % 20.71% 13.81% 17.16% 1.69% p.a. 8.27% p.a. ING Wholesale Share AJF0804AU Yes Yes % -8.99% 29.07% 23.42% 30.56% 7.42% p.a. 9.95% p.a. ING Wholesale Balanced AJF0802AU Yes Yes % -7.87% 14.02% 15.46% 14.53% 3.83% p.a. 6.30% p.a. ING Wholesale Capital Stable MMF0114AU Yes Yes -1.05% -0.55% 8.89% 7.42% 10.71% 4.97% p.a. 5.27% p.a. ING Wholesale Diversified Fixed Income ANZ0212AU No Yes 2.37% 0.03% 4.63% 4.73% 9.64% 4.23% p.a. 4.96% p.a. ING Wholesale Emerging MMF0112AU No No % % 51.18% 21.27% 49.59% 13.53% p.a % p.a. Companies ING Wholesale Enhanced Cash MMF0341AU No Yes -2.51% 2.94% 6.27% 5.75% 5.89% n/a n/a ING Wholesale Fixed Interest MMF0075AU No Yes 11.05% 2.87% 3.23% 3.76% 7.68% 5.67% p.a. 6.29% p.a. ING Wholesale Global Emerging MMF0275AU Yes Yes % -6.95% 30.63% 35.45% 19.22% 8.22% p.a. 2.70% p.a. Markets ING Wholesale Global High HML0014AU Yes Yes % % 10.38% n/a n/a n/a -5.58% p.a. Dividend ING Wholesale Global Property HML0016AU No Yes % % 19.34% n/a n/a n/a -7.08% p.a. Securities ING Wholesale Global Share MMF0343AU Yes Yes % % 4.99% 19.60% 1.40% -4.90% p.a % p.a. ING Wholesale High Growth MMF0342AU Yes Yes % % 15.99% 21.59% 15.07% 1.08% p.a. 0.76% p.a. ING Wholesale Managed Growth MMF0115AU Yes Yes % % 15.41% 17.07% 14.78% 2.78% p.a. 4.96% p.a. ING Wholesale Select Leaders ANZ0216AU Yes Yes % -4.50% 34.89% 30.59% 33.91% 14.17% p.a. 7.61% p.a. Instreet Reliance Commodities MIL0003AU Yes Yes % n/a n/a n/a n/a n/a % p.a. Instreet Reliance Global MIL0002AU Yes Yes -8.98% n/a n/a n/a n/a n/a -8.98% p.a. Allocation Integrity Shares ITG0001AU Yes Yes -7.51% n/a n/a n/a n/a n/a % p.a. 11

14 Investment returns to 30 June 2009 continued Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) INVESCO Wholesale Asian Share GTU0009AU Yes Yes % % 1.85% 40.95% -2.60% -1.12% p.a. 0.84% p.a. INVESCO Wholesale CNA0811AU No No % % 26.25% 25.19% 28.86% 5.05% p.a % p.a. Share INVESCO Wholesale CNA0812AU Yes Yes % % 44.88% 22.30% 30.63% 5.58% p.a % p.a. Smaller Companies INVESCO Wholesale Global Fixed GTU0021AU No No 4.17% 1.73% 4.56% 0.36% 10.86% n/a n/a Interest INVESCO Wholesale Global Matrix GTU0102AU Yes Yes % % 4.49% 18.40% 5.91% -4.89% p.a % p.a. INVESCO Wholesale Global Matrix GTU0008AU Yes Yes % % 18.01% 16.48% 17.78% -2.87% p.a. 3.29% p.a. (Hedged) Invesco Wholesale Global Property GTU0041AU No No % % 17.06% 27.85% n/a n/a -4.63% p.a. Securities Investors Mutual Share IML0002AU Yes Yes % % 26.80% 14.89% 20.04% 4.74% p.a. n/a Investors Mutual Small IML0001AU No No % % 42.21% 20.66% 26.02% 3.66% p.a. n/a Companies Investors Mutual Future Leaders IML0003AU Yes Yes % % 38.73% 13.79% 26.03% 4.33% p.a. n/a Investors Mutual Industrial Share IML0004AU Yes Yes -6.43% % 27.12% 9.20% 17.35% 2.94% p.a. n/a Investors Mutual Small Cap IML0006AU Yes Yes -9.32% % n/a n/a n/a n/a n/a Investors Mutual Value & Income IML0005AU Yes Yes % % 25.10% 11.87% 16.49% 3.58% p.a % p.a. K2 Asian Absolute Return KAM0100AU Yes Yes -1.15% -7.58% 31.93% 20.67% 13.35% 10.52% p.a % p.a. K2 Absolute Return KAM0101AU Yes Yes 1.94% % 25.35% 18.33% 22.57% 10.39% p.a % p.a. K2 Select Absolute ETL0046AU Yes Yes -4.00% -7.04% 30.69% 33.17% n/a n/a 11.61% p.a. Return Kinetic Wholesale Emerging HOW0036AU Yes Yes % % n/a n/a n/a n/a n/a Companies Lazard Equity LAZ0010AU Yes Yes % % 27.03% 12.09% 26.92% 3.47% p.a. 6.36% p.a. W Class Lazard Global Equity (ex Australia) LAZ0001AU No No -9.85% % 7.81% 18.54% -1.13% -2.12% p.a. 3.78% p.a. - I Class Lazard Global Small Cap - W LAZ0012AU Yes Yes % % 19.88% 25.36% 4.68% -1.73% p.a. 2.26% p.a. Class Lazard Select Equity LAZ0013AU Yes Yes % % 33.52% 5.64% 34.44% 3.80% p.a. 6.28% p.a. W Class Legg Mason Credit SSB0123AU Yes Yes 1.14% -2.30% 4.17% 3.81% 8.26% 2.96% p.a. 4.45% p.a. Legg Mason Equity SSB0125AU Yes Yes % % 30.10% 21.79% 22.83% 4.87% p.a. 7.40% p.a. Legg Mason Diversified Fixed JPM0018AU No Yes 4.15% 0.81% 4.01% 2.53% 8.87% 4.04% p.a. 5.46% p.a. Interest Class A Units Legg Mason Diversified JPM0008AU Yes Yes % % 15.96% 14.58% 12.47% 0.68% p.a. 5.68% p.a. Legg Mason Property Securities SSB0128AU Yes Yes % % 27.90% 16.93% 19.29% % 1.26% p.a. p.a. Legg Mason Tactical Allocation SSB0130AU Yes Yes % -3.93% 7.53% 5.92% 15.11% -0.69% p.a. 3.88% p.a. Legg Mason Wholesale SSB0001AU No No n/a -5.28% 8.18% 6.74% 9.56% n/a n/a Defensive Leveraged Investment BEG0002AU Yes Yes % % 53.52% 28.43% n/a 11.33% p.a % p.a. Companies Life Settlements Wholesale LFS0001AU Yes Yes 26.14% -5.87% 4.69% n/a n/a 8.17%p.a. 8.17% p.a. LM Wholesale Mortgage LMI0007AU No No 7.34% 7.69% 7.00% 6.75% 6.75% 7.10% p.a. 7.06% p.a. Income Macarthur Cook Diversified Prop MCK0002AU No No % % 14.40% 9.83% 7.97% n/a % p.a. Income Macquaire Special Events MAQ0360AU Yes Yes 18.55% 5.00% 16.71% 9.81% 10.67% 12.32% p.a % p.a. Macquarie Asian Alpha (formerly MAQ0625AU Yes Yes -5.01% 3.57% n/a n/a n/a n/a 5.16% p.a. Macquarie Small MAQ0479AU Yes Yes % % n/a n/a n/a n/a % p.a. Companies Incentives Macquarie Smaller MAQ0454AU Yes Yes % % n/a n/a n/a n/a -8.60% p.a. Companies Macquarie BRIC Adv (Hedged) MAQ0473AU Yes Yes -3.76% 0.65% n/a n/a n/a n/a 7.81% p.a. Macquarie BRIC Adv (Unhedged) MAQ0474AU No No 14.13% % n/a n/a n/a n/a 5.94% p.a. Class G units (formerly Macquarie Globalis BRIC Adv Unhedged) Macquarie Direct Property MAQ0448AU No Yes % 6.39% 25.48% n/a n/a n/a -4.26% p.a. 12

15 Investment name APIR Available in Super Accumulator Available in Super and Pension Manager to 30/6/08 to 30/6/07 to 30/6/06 to 30/6/05 5 year compound (% p.a.) Since inception (% p.a.) Macquarie Diversified Equity MAQ0282AU Yes Yes -8.89% 3.79% 7.91% 6.08% 12.93% 4.10% p.a. 4.00% p.a. Accum (2003 Series) Macquarie Diversified Private Equity MAQ0322AU Yes Yes % 2.59% 9.13% 5.36% 5.01% 1.65% p.a. 1.88% p.a. Accum (2004 Series) Macquarie Diversified Private Equity MAQ0283AU Yes Yes -9.95% 3.80% 9.99% 5.94% 15.27% 4.65% p.a. 4.66% p.a. Pension (2003 Series) Macquarie Enhanced Resource & MBL0001AU Yes Yes % 28.92% 2.74% 5.15% n/a n/a 1.87% p.a. Commodity Securities Series 3 Macquarie Enhanced Resource & MBL0002AU Yes Yes % 38.25% 2.98% 13.31% n/a n/a 0.19% p.a. Commodity Securities Series 4 Macquarie Equinox Limited MAQ0001BM Yes Yes n/a n/a n/a n/a n/a n/a n/a Class B Participating Shares Macquarie Equinox Limited MAQ0002BM Yes Yes n/a n/a n/a n/a n/a n/a n/a Class C Participating Shares Macquarie Global Infrastructure MAQ0353AU Yes Yes n/a n/a n/a n/a n/a n/a 6.51% p.a. II Macquarie Martin Place Office MAQ0270AU Yes Yes % -6.12% 34.16% 36.40% 8.20% 9.67% p.a. 7.59% p.a. Macquarie Property Income MAQ0300AU No Yes % % 36.81% 26.35% 29.78% % p.a % p.a. Macquarie Wrap Solutions MAQ0203AU Yes Yes 5.02% n/a n/a n/a n/a n/a 5.25% Cash Account Magellan Global MGE0001AU Yes Yes 7.08% % n/a n/a n/a n/a -5.86% p.a. Magellan Infrastructure MGE0002AU Yes Yes % % n/a n/a n/a n/a % p.a. Man Series 6 OM-IP 220 Ltd MAN0011CK No Yes % 21.40% 15.90% 17.25% 19.80% 11.60% p.a. 9.80% p.a. Maple-Brown Abbott Diversified MPL0001AU Yes Yes -8.02% % 15.45% 13.24% 13.43% 4.12% p.a. 9.60% p.a. Investment Mariner Wholesale Mortgage MRN0003AU Yes Yes 7.00% 7.59% 6.94% 6.64% n/a n/a 7.01% p.a. Mercer Shares Plus MIN0020AU Yes Yes % % 29.61% n/a n/a n/a 2.39% p.a. Mercer Diversified Alternatives MIN0026AU Yes Yes -7.13% 1.17% 10.26% n/a n/a n/a 1.90% p.a. Mercer Growth Plus MIN0021AU No No % % 18.48% n/a n/a n/a 0.01% p.a. Mercer Income Plus MIN0027AU No Yes -9.96% -2.28% 10.88% n/a n/a n/a -0.66% p.a. MFS Fully Hedged Global Equity ETL0041AU Yes Yes % % 22.41% 20.96% n/a n/a 1.43% p.a. MFS Global Equity MIA0001AU Yes Yes -9.70% % 7.50% 23.38% % -0.44% p.a. 3.94% p.a. Milhouse IAG Private Equity TOL0042AU No No -3.80% 13.61% 17.78% n/a n/a n/a 7.95% p.a. Mirvac Aqua Enhanced Income JFF0003AU No Yes -1.51% 7.80% n/a n/a n/a n/a 3.12% p.a. Mirvac Aqua High Income JFF0001AU No Yes -8.52% 9.46% 9.47% 9.70% n/a n/a 5.38% p.a. Mirvac Aqua Income JFF0002AU No Yes 2.96% 7.02% 6.52% 6.38% n/a n/a 5.82% p.a. MLC Investment - Platinum MLC0317AU No No 8.92% % 10.72% 25.51% -0.18% 4.42% p.a. 5.70% p.a. Global MLC Wholesale Share MLC0262AU No No % % 26.06% 21.25% 26.01% 6.24% p.a. 7.40% p.a. MLC Wholesale Share MLC0623AU Yes Yes % % 23.04% 26.36% n/a n/a 6.82% p.a. Growth Style MLC Wholesale Share MLC0624AU Yes Yes % % 29.68% 14.32% n/a n/a 3.61% p.a. Value Style MLC Wholesale Capital Global Share MLC0316AU Yes Yes % % 6.28% 22.52% -2.53% -2.59% p.a % p.a. MLC Wholesale Global Share MLC0261AU Yes Yes % % 8.32% 21.87% -0.51% -3.09% p.a % p.a. MLC Wholesale Global Share Value MLC0626AU Yes Yes % % 17.53% 24.73% n/a n/a -4.94% p.a. Style MLC Wholesale Horizon 3 MLC0398AU Yes Yes -9.95% -5.05% 12.23% 12.25% 11.61% 3.75% p.a. 4.00% p.a. Conservative Growth Portfolio MLC Wholesale Horizon 4 Balanced MLC0260AU Yes Yes % -9.00% 15.46% 15.43% 13.84% 3.16% p.a. 5.03% p.a. Portfolio MLC Wholesale Horizon 5 Growth MLC0265AU Yes Yes % % 17.69% 18.24% 13.94% 2.36% p.a. 4.44% p.a. Portfolio MLC Wholesale Horizon 6 Share MLC0397AU Yes Yes % % 20.90% 20.66% 14.27% 1.98% p.a. 1.57% p.a. Portfolio MLC Wholesale Horizon 7 MLC0449AU Yes Yes % % 25.45% 24.85% 16.66% -0.26% p.a. 3.96% p.a. Accelerated Growth Portfolio MLC Wholesale IncomeBuilder MLC0264AU Yes Yes -9.30% % 24.44% 13.65% 21.33% 3.39% p.a. 6.67% p.a. MLC Wholesale Property Securities MLC0263AU Yes Yes % % 24.47% 17.44% 18.28% -5.83% p.a. 3.47% p.a. * On 29 May 2008, the underlying investment of the Cash Account was transitioned from the Macquarie Treasury to a wholesale deposit with Macquarie Bank Limited. For performance figures prior to 29 May 2008, refer to the Macquarie Treasury above on this page. 13