Global Commodity Fund - Managed Fund (Closed)

The objective of the Global Commodity Fund managed fund is Commodity Strategies has developed an ECI programme benchmarked against a 50% blend of the CRB Index and the GS Commodity Index. The ECI uses fixed weightings, based on the benchmark, for 24 diverse commodities to provide stable, long term diversification to conventional equity portfolios. It has equity-like returns with no correlation to other asset classes, and has been designed to outperform the benchmark over any five year period.

The strategy of the Global Commodity Fund managed fund is The ECI is a fully automated, non-discretionary investment process capitalising on the fundamentals associated with the way commodities are stored and valued, not market inefficiencies. A daily automated quantitative investment process evaluates each commodity in the portfolio to determine whether storing a commodity is likely to be a cost or a benefit. Commodity exposure which is determined to be a cost is allocated to high quality fixed interest investments.

The APIR code of the Global Commodity Fund managed fund is CMY0001AU.

Global Commodity Fund’s total return last month was -11.07%. This was made up of a growth return of -11.07% and an income return of 0%. These returns were calculated as at 31 Jul 2004.

Global Commodity Fund’s total return for the last three months was -11.5%. This was made up of a growth return of -11.5% and an income return of 0%%. These returns were calculated as at 31 Jul 2004.

Global Commodity Fund’s one-year total return is 4.36%. This was made up of a growth return of 4.36% and an income return of 0%. These returns were calculated as at 31 Jul 2004.

Global Commodity 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 Jul 2004.

The asset allocation of the Global Commodity Fund managed fund is :

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

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

As at 31 Aug 2004, the size of the Global Commodity Fund managed fund was $7.41 million.

The Global Commodity Fund managed fund has an inception date of 15 Apr 2003.

The current entry price of the Global Commodity Fund managed fund is $1.0326 per unit and the current exit price is $1.0326 per unit (as at 31 Jul 2004).

The current exit price of the Global Commodity Fund managed fund is $1.0326 per unit and the current entry price is $1.0326 per unit (as at 31 Jul 2004).

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