Ellerston Asia - Managed Fund (Closed)

Fund Objective

To gain exposure to the performance of a diversified portfolio of high-quality Asian market focused absolute return funds whilst preserving capital and generating positive returns over the long term.

Fund Strategy

The Fund, through the Enhanced Return Facility, gains exposure to a primarily Asian focused portfolio of absolute return funds (i.e. the Asia Portfolio). The managers of these funds are located globally with a majority based in Hong Kong, Singapore and Japan. The Manager believes that Asia provides a favourable investment opportunity over the medium to long term. The Fund will use a fund of funds ('FoF') approach (i.e. gain exposure to a portfolio of underlying funds).

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.

Fees Comparison

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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	-15.72%	-14.12%	-14.12%	-13.9%	-16.79%	-10.54%	-%	-%
Growth return	-15.72%	-14.12%	-88.78%	-88.75%	-69.93%	-54.75%	-%	-%
Income return	0%	0%	74.66%	74.85%	53.14%	44.21%	-%	-%
Market index (RBA Bank accepted Bills 90 Days)
Total return	0.28%	0.86%	1.78%	3.86%	4.13%	4.04%	2.69%	2.09%

As at 30 Jun 2010. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Ellerston Asia

Alternatives: 100%

Australian Equities: 0%

International Equities: 0%

Cash: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Average Allocation of Peers

Alternatives: 20.29%

Australian Equities: 3.88%

International Equities: 7.32%

Cash: 46.30%

Property & Infrastructure: 1.87%

Fixed Interest: 20.36%

General Information

Fund Details

Type	Description
Fund Name	Ellerston Asia (Wholesale)
Fund Status	Closed
Responsible Entity	Ellerston Capital Limited
APIR Code	ECL0001AU
Sector/Asset Class	Alternative - Other
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	9 Nov 2005
Fund Size	$107 million (as at 30 Apr 2008)
Entry Price	n/a
Exit Price	$0.1083 (as at 30 Jun 2010)
Fund Status	Finalised

Offer information

Type	Description
Standard entry fee	4%
Indirect Cost Ratio (ICR)	1.50% (as at 30 Jun 2009)
Minimum initial investment	$50,000

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FAQs about the Ellerston Asia

What is the objective of the Ellerston Asia managed fund?

The objective of the Ellerston Asia managed fund is To gain exposure to the performance of a diversified portfolio of high-quality Asian market focused absolute return funds whilst preserving capital and generating positive returns over the long term.

What is the strategy for the Ellerston Asia managed fund?

The strategy of the Ellerston Asia managed fund is The Fund, through the Enhanced Return Facility, gains exposure to a primarily Asian focused portfolio of absolute return funds (i.e. the Asia Portfolio). The managers of these funds are located globally with a majority based in Hong Kong, Singapore and Japan. The Manager believes that Asia provides a favourable investment opportunity over the medium to long term. The Fund will use a fund of funds ('FoF') approach (i.e. gain exposure to a portfolio of underlying funds).

What is the APIR code of the Ellerston Asia managed fund?

The APIR code of the Ellerston Asia managed fund is ECL0001AU.

What was Ellerston Asia’s total return last month?

Ellerston Asia’s total return last month was -15.72%. This was made up of a growth return of -15.72% and an income return of 0%. These returns were calculated as at 30 Jun 2010.

What was Ellerston Asia’s total return for the last three months?

Ellerston Asia’s total return for the last three months was -14.12%. This was made up of a growth return of -14.12% and an income return of 0%%. These returns were calculated as at 30 Jun 2010.

What is Ellerston Asia’s one-year total return?

Ellerston Asia’s one-year total return is -13.9%. This was made up of a growth return of -88.75% and an income return of 74.85%. These returns were calculated as at 30 Jun 2010.

What is Ellerston Asia’s three-year total return?

Ellerston Asia’s one-year total return is -10.54%. This was made up of a growth return of -54.75% and an income return of 44.21%. These returns were calculated as at 30 Jun 2010.

What is the asset allocation of the Ellerston Asia managed fund?

The asset allocation of the Ellerston Asia managed fund is :

Alternatives: 100%

Australian Equities: 0%

International Equities: 0%

Cash: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Who is the responsible Entity of the Ellerston Asia managed fund?

The Responsible Entity for the Ellerston Asia managed fund is Ellerston Capital Limited.

What sector/asset class does the Ellerston Asia managed fund belong to?

The Ellerston Asia managed fund belongs to the Alternative - Other sector/asset class.

What is the size of the Ellerston Asia managed fund?

As at 30 Apr 2008, the size of the Ellerston Asia managed fund was $107 million.

What is the inception date of the Ellerston Asia managed fund?

The Ellerston Asia managed fund has an inception date of 9 Nov 2005.

What is the current entry price of the Ellerston Asia managed fund?

The current entry price of the Ellerston Asia managed fund is $ per unit and the current exit price is $0.1083 per unit (as at 30 Jun 2010).

What is the current exit price of the Ellerston Asia managed fund?

The current exit price of the Ellerston Asia managed fund is $0.1083 per unit and the current entry price is $ per unit (as at 30 Jun 2010).

What is the minimum investment amount for the Ellerston Asia managed fund?

The minimum initial investment amount for the Ellerston Asia 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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