Active Commodities Fund - Managed Fund (Closed)

Fund Objective

The Fund's objective is to seek to achieve a long-term total return that exceeds the return of the Reuters/Jefferies CRB Index - Total Return Series while maintaining a lower volatility over the same period.

Fund Strategy

The Fund is managed by Commodity Strategies Limited ('CSL'), a specialist in commodity portfolio management that believes in a risk managed, active approach to commodity investing. CSL was established as an independent investment boutique in 1999 and currently manages commodity portfolios for a range of retail, high net worth and institutional investors in Australia, New Zealand and Europe. Commodity exposure ranges are: Energy: 0% - 70%, Metals: 0% - 35%, Softs: 0% - 35%, Grains and Livestock: 0% - 35%.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

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Fees Comparison

% p.a.

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	-3.39%	-8.35%	-6.35%	29.81%	15.95%	-%	-%	-%
Growth return	-3.39%	-29.31%	-27.77%	-9.81%	-4.25%	-%	-%	-%
Income return	0%	20.96%	21.42%	39.62%	20.2%	-%	-%	-%
Market index (Morningstar Long-Only Commodity TR AUD)
Total return	7.31%	15.54%	26.62%	41.74%	1.8%	2.09%	3.54%	-1.44%

As at 31 Aug 2008. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

No asset allocation data available.

Average Allocation of Peers

Alternatives: 87.45%

International Equities: 11.11%

Cash: 1.44%

General Information

Fund Details

Type	Description
Fund Name	Active Commodities Fund (Wholesale)
Fund Status	Closed
Responsible Entity	Commodity Strategies AG
APIR Code	MAQ0445AU
Sector/Asset Class	Commodities & Precious Metals
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	3 Mar 2006
Fund Size	n/a
Entry Price	$0.8882 (as at 23 Sep 2008)
Exit Price	$0.8882 (as at 23 Sep 2008)
Fund Status	Finalised

Offer information

Type	Description
MER	1.48% (as at 30 Jun 2007)
Indirect Cost Ratio (ICR)	1.48% (as at 30 Jun 2008)
Performance fee (not included in ICR)	Not Available
Minimum initial investment	$50,000

FAQs about the Active Commodities Fund

What is the objective of the Active Commodities Fund managed fund?

The objective of the Active Commodities Fund managed fund is The Fund's objective is to seek to achieve a long-term total return that exceeds the return of the Reuters/Jefferies CRB Index - Total Return Series while maintaining a lower volatility over the same period.

What is the strategy for the Active Commodities Fund managed fund?

The strategy of the Active Commodities Fund managed fund is The Fund is managed by Commodity Strategies Limited ('CSL'), a specialist in commodity portfolio management that believes in a risk managed, active approach to commodity investing. CSL was established as an independent investment boutique in 1999 and currently manages commodity portfolios for a range of retail, high net worth and institutional investors in Australia, New Zealand and Europe. Commodity exposure ranges are: Energy: 0% - 70%, Metals: 0% - 35%, Softs: 0% - 35%, Grains and Livestock: 0% - 35%.

What is the APIR code of the Active Commodities Fund managed fund?

The APIR code of the Active Commodities Fund managed fund is MAQ0445AU.

What was Active Commodities Fund’s total return last month?

Active Commodities Fund’s total return last month was -3.39%. This was made up of a growth return of -3.39% and an income return of 0%. These returns were calculated as at 31 Aug 2008.

What was Active Commodities Fund’s total return for the last three months?

Active Commodities Fund’s total return for the last three months was -8.35%. This was made up of a growth return of -29.31% and an income return of 20.96%%. These returns were calculated as at 31 Aug 2008.

What is Active Commodities Fund’s one-year total return?

Active Commodities Fund’s one-year total return is 29.81%. This was made up of a growth return of -9.81% and an income return of 39.62%. These returns were calculated as at 31 Aug 2008.

What is Active Commodities Fund’s three-year total return?

Active Commodities Fund’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 Aug 2008.

What is the asset allocation of the Active Commodities Fund managed fund?

The asset allocation of the Active Commodities Fund managed fund is :

Alternatives: 100%

International Equities: 0%

Cash: 0%

Who is the responsible Entity of the Active Commodities Fund managed fund?

The Responsible Entity for the Active Commodities Fund managed fund is Commodity Strategies AG.

What sector/asset class does the Active Commodities Fund managed fund belong to?

The Active Commodities Fund managed fund belongs to the Commodities & Precious Metals sector/asset class.

What is the size of the Active Commodities Fund managed fund?

As at 31 Jul 2008, the size of the Active Commodities Fund managed fund was $ million.

What is the inception date of the Active Commodities Fund managed fund?

The Active Commodities Fund managed fund has an inception date of 3 Mar 2006.

What is the current entry price of the Active Commodities Fund managed fund?

The current entry price of the Active Commodities Fund managed fund is $0.8882 per unit and the current exit price is $0.8882 per unit (as at 23 Sep 2008).

What is the current exit price of the Active Commodities Fund managed fund?

The current exit price of the Active Commodities Fund managed fund is $0.8882 per unit and the current entry price is $0.8882 per unit (as at 23 Sep 2008).

What is the minimum investment amount for the Active Commodities Fund managed fund?

The minimum initial investment amount for the Active Commodities Fund managed fund is $50,000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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