Investment managers

The investment managers and asset sector portfolios for each of the investment options as at 30 June 2008 are as follows:

Diversified Shares Investment manager Asset sector Adam Smith Asset Management Australian Shares Alliance Capital International Shares Barclays Global Investors Australian & International Shares Bernstein Global Value Trust International Shares Cooper Investors Australian Shares Edinburgh Partners International Shares Generation Investment Management International Shares Integrity Investment Management Australian Shares Lazard Asset Management International Shares Tactical Global Management TAA/Rebalancing Tyndall Investment Management Australian Shares Wallara Asset Management Australian Shares Growth Investment manager Asset sector Adam Smith Asset Management Australian Shares Alliance Capital International Shares AMP Capital Investors Property, Alternative Assets ANZIS Alternative Assets Barclays Global Investors Australian & International Shares, Alternative Assets Bernstein Global Value Trust International Shares Blackrock Investment Management Australian Shares, Liquid Defensive Charter Hall Property, Alternative Assets Colonial First State Cash, Property Cooper Investors Australian Shares Edinburgh Partners International Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets IFBT Alternative Assets Industry Funds Management Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares Invesco Wholesale Global Listed Property Property ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive Lazard Asset Management Alternative Assets, International Shares Legg Mason Listed Property Securities Property Lend Lease Property Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Alternative Assets PIMCO Australia Liquid Defensive Quellos Kel Fund Alternative Assets Renaissance Asset Management Property Tactical Global Management TAA/Rebalancing Taube Stonex Hodson Partners International Shares Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wallara Asset Management Australian Shares Warakirri (Mesirow) Alternative Strategies Trust Alternative Assets Wilshire Private Equity Alternative Assets Balanced Investment manager Asset sector Adam Smith Asset Management Australian Shares Alliance Capital International Shares AMP Capital Investors Property, Alternative Assets ANZIS Alternative Assets Barclays Global Investors Australian & International Shares, Alternative Assets Bernstein Global Value Trust International Shares Blackrock Investment Management Australian Shares, Liquid Defensive Charter Hall Property, Alternative Assets Colonial First State Cash, Property Cooper Investors Australian Shares Edinburgh Partners International Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets IFBT Alternative Assets Industry Funds Management Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares Invesco Wholesale Global Listed Property Property ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive Lazard Asset Management Alternative Assets, International Shares Legg Mason Listed Property Securities Property Lend Lease Property Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Alternative Assets PIMCO Australia Liquid Defensive Quellos Kel Fund Alternative Assets Renaissance Asset Management Property Tactical Global Management TAA/Rebalancing Taube Stonex Hodson Partners International Shares Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wallara Asset Management Australian Shares Warkirri (Mesirow) Alternative Strategies Trust Alternative Assets Wilshire Private Equity Alternative Assets Socially Responsible Balanced Investment manager Asset sector AMP Capital Investors Australian & International Shares, Australian Fixed Interest, Australian Listed Property, Cash Conservative Investment manager Asset sector Adam Smith Asset Management Australian Shares Alliance Capital International Shares AMP Capital Investors Property, Alternative Assets ANZIS Alternative Assets Barclays Global Investors Australian & International Shares, Alternative Assets Bernstein Global Value Trust International Shares Blackrock Investment Management Australian Shares, Liquid Defensive Charter Hall Property, Alternative Assets Colonial First State Cash, Property Cooper Investors Australian Shares Edinburgh Partners International Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets IFBT Alternative Assets Industry Funds Management Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares Invesco Wholesale Global Listed Property Property ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive Lazard Asset Management International Shares, Alternative Assets Legg Mason Listed Property Securities Property Lend Lease Property Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Alternative Assets PIMCO Australia Liquid Defensive Quellos Kel Fund Alternative Assets Renaissance Asset Management Property Tactical Global Management TAA/Rebalancing Taube Stonex Hodson Partners International Shares Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wallara Asset Management Australian Shares Warakirri (Mesirow) Alternative Strategies Trust Alternative Assets Wilshire Private Equity Alternative Assets

Australian Shares Investment manager Asset sector Adam Smith Asset Management Australian Shares Barclays Global Investors Australian Shares Blackrock Investment Management Australian Shares Cooper Investors Australian Shares Integrity Investment Management Australian Shares Tyndall Investment Management Australian Shares Wallara Asset Management Australian Shares International Shares Investment manager Asset sector Alliance Capital International Shares Barclays Global Investors International Shares Bernstein Global Value Trust International Shares Edinburgh Partners International Shares Generation Investment Management International Shares Lazard Asset Management International Shares Taube Stonex Hodson Partners International Shares Diversified Property Investment manager Asset sector AMP Capital Investors Property Charter Hall Property Colonial First State Australian Unlisted Property Invesco Wholesale Global Listed Property Property ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive Legg Mason Listed Property Securities Property Lend Lease Property PIMCO Australia Liquid Defensive Renaissance Asset Management Property Trinity Funds Management Property Diversified Fixed Interest Investment manager Asset sector Blackrock Investment Management Liquid Defensive Members Equity Liquid Defensive Vianova Asset Management Liquid Defensive Cash Investment manager Asset sector Colonial First State Cash

The investment managers listed are effective as at 30 June 2008. The Trustee monitors both the investment managers and associated performance at all Board meetings, in conjunction with the Fund's appointed asset consultant, Mercer Investment Consulting. Investment managers can be replaced at any time. Members will be advised of any such change in the next Trustee's report to members.