Glebe Large - Capital Shares Fund - Managed Fund (Closed)

The objective of the Glebe Large - Capital Shares Fund managed fund is To provide long term growth by investing primarily in Australian shares selected from the top 100 companies by market capitalisation as listed on the Australian Stock Exchange, consistent with the Glebe Ethical Investment Charter. The fund aims to outperform the S&P/ASX 100 Accumulation Index over periods of five years or longer.

The strategy of the Glebe Large - Capital Shares Fund managed fund is Glebe is an active manager employing a Growth at Reasonable Price (GARP) approach but with a value bias. Glebe generally seeks to invest in securities that are priced cheaply compared to earnings growth and comparable investments, and to avoid exposure to stocks it perceives as over valued or expensive compared to earnings growth and comparable investments.

The APIR code of the Glebe Large - Capital Shares Fund managed fund is GAM0100AU.

Glebe Large - Capital Shares Fund’s total return last month was -0.44%. This was made up of a growth return of -0.44% and an income return of 0%. These returns were calculated as at 31 May 2007.

Glebe Large - Capital Shares Fund’s total return for the last three months was 1.37%. This was made up of a growth return of 1.37% and an income return of 0%%. These returns were calculated as at 31 May 2007.

Glebe Large - Capital Shares Fund’s one-year total return is 19.62%. This was made up of a growth return of 16.32% and an income return of 3.3%. These returns were calculated as at 31 May 2007.

Glebe Large - Capital Shares Fund’s one-year total return is 21.91%. This was made up of a growth return of 15.15% and an income return of 6.76%. These returns were calculated as at 31 May 2007.

The asset allocation of the Glebe Large - Capital Shares Fund managed fund is :

The Responsible Entity for the Glebe Large - Capital Shares Fund managed fund is Glebe Asset Management Limited.

The Glebe Large - Capital Shares Fund managed fund belongs to the Equity Australia Large Blend sector/asset class.

As at 31 Dec 2005, the size of the Glebe Large - Capital Shares Fund managed fund was $242.2 million.

The Glebe Large - Capital Shares Fund managed fund has an inception date of 24 Sep 2002.

The current entry price of the Glebe Large - Capital Shares Fund managed fund is $1.8209 per unit and the current exit price is $1.8209 per unit (as at 20 Jun 2007).

The current exit price of the Glebe Large - Capital Shares Fund managed fund is $1.8209 per unit and the current entry price is $1.8209 per unit (as at 20 Jun 2007).

The minimum initial investment amount for the Glebe Large - Capital Shares Fund managed fund is $50,000.