Investment managers

The investment managers and asset sector portfolios for each of the investment options as at 1 July 2011 are as follows:

Diversified Shares Investment manager Asset sector Aberdeen Asset Management International Shares Adam Smith Asset Management Australian Shares ANZ Bank Cash Bank of Queensland Cash Colonial First State Cash Commonwealth Bank Cash Cooper Investors Australian Shares Edinburgh Partners International Shares Eley Griffiths Australian Shares Generation Investment Management International Shares Greencape Capital Australian Shares Integrity Investment Management Australian Shares L1 Capital Australian Shares Lazard Asset Management International Shares Members Equity Cash Pareto Australia Currency Perennial Investment Partners International Shares Platinum Asset Management International Shares Schroder Investment Management International Shares Tactical Global Management Currency, Rebalancing Tyndall Investment Management Australian Shares Zurich Investment Management International Shares Growth Investment manager Asset sector Aberdeen Asset Management International Shares Adam Smith Asset Management Australian Shares AMP Capital Investors Property, Alternative Assets ANZ Bank Liquid Defensive Australian Farms Management Alternative Assets Bank of Queensland Cash BlackRock Investment Management Illiquid Defensive Charter Hall Property, Alternative Assets Colonial First State Illiquid & Liquid Defensive, Property Commonwealth Bank Cash Cooper Investors Australian Shares Edinburgh Partners International Shares Eley Griffiths Australian Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets Greencape Capital Australian Shares HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets Industry Funds Management Alternative Assets Industry Super Holdings Alternative Assets Infrastructure Capital Group Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive L1 Capital Australian Shares Lazard Asset Management Alternative Assets, International Shares Lend Lease Property Lexington Partners Alternative Assets Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Currency Partners Group Alternative Assets Perennial Investment Partners International Shares PIMCO Australia Liquid Defensive Platinum Asset Management International Shares Quellos Kel Fund Illiquid Defensive Schroder Investment Management International Shares Tactical Global Management Currency, Rebalancing Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wilshire Private Equity Alternative Assets Zurich Investment Management International Shares Balanced Investment manager Asset sector Aberdeen Asset Management International Shares Adam Smith Asset Management Australian Shares AMP Capital Investors Property, Alternative Assets ANZ Bank Liquid Defensive Australian Farms Management Alternative Assets Bank of Queensland Cash BlackRock Investment Management Illiquid & Liquid Defensive Charter Hall Property, Alternative Assets Colonial First State Illiquid & Liquid Defensive, Property Commonwealth Bank Cash Cooper Investors Australian Shares Edinburgh Partners International Shares Eley Griffiths Australian Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets Greencape Capital Australian Shares HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets Industry Funds Management Alternative Assets Industry Super Holdings Alternative Assets Infrastructure Capital Group Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive L1 Capital Australian Shares Lazard Asset Management Alternative Assets, International Shares Lend Lease Property Lexington Partners Alternative Assets Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Currency Partners Group Alternative Assets Perennial Investment Partners International Shares PIMCO Australia Liquid Defensive Platinum Asset Management International Shares Quellos Kel Fund Illiquid Defensive Schroder Investment Management International Shares Tactical Global Management Currency, Rebalancing Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wilshire Private Equity Alternative Assets Zurich Investment Management International Shares Socially Responsible Balanced Investment manager Asset sector AMP Capital Investors Australian & International Shares, Fixed Interest, Listed Property, Cash Conservative Investment manager Asset sector Aberdeen Asset Management International Shares Adam Smith Asset Management Australian Shares AMP Capital Investors Property, Alternative Assets ANZ Bank Cash, Liquid Defensive Australian Farms Management Alternative Assets Bank of Queensland Cash BlackRock Investment Management Illiquid & Liquid Defensive Charter Hall Property, Alternative Assets Colonial First State Illiquid & Liquid Defensive, Property Commonwealth Bank Cash Cooper Investors Australian Shares Edinburgh Partners International Shares Eley Griffiths Australian Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alternative Assets Greencape Capital Australian Shares HarbourVest Partners Alternative Assets Hastings Private Capital Alternative Assets HFI Qld Private Equity Units Alternative Assets Industry Funds Management Alternative Assets Industry Super Holdings Alternative Assets Infrastructure Capital Group Alternative Assets ING Investment Management Alternative Assets Integrity Investment Management Australian Shares ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive L1 Capital Australian Shares Lazard Asset Management International Shares, Alternative Assets Lend Lease Property Lexington Partners Alternative Assets Macquarie Investment Management Alternative Assets Members Equity Cash, Liquid Defensive Pareto Australia Currency Partners Group Alternative Assets Perennial Investment Partners International Shares PIMCO Australia Liquid Defensive Platinum Asset Management International Shares Quellos Kel Fund Illiquid Defensive Schroder Investment Management International Shares Tactical Global Management Currency, Rebalancing Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wilshire Private Equity Alternative Assets Conservative Balanced Investment manager Asset sector Aberdeen Asset Management International Shares Adam Smith Asset Management Australian Shares AMP Capital Investors Property, Alternative Assets ANZ Bank Liquid Defensive Australian Farms Management Alternative Assets Bank of Queensland Cash BlackRock Investment Management Liquid & Illiquid Defensive Charter Hall Property, Alternative Assets Colonial First State Illiquid & Liquid Defensive, Property Commonwealth Bank Cash Cooper Investors Australian Shares Edinburgh Partners International Shares Eley Griffiths Australian Shares Generation Investment Management International Shares, Alternative Assets Grantham Mayo Van Otterloo Alterative Assets Greencape Capital Australian Shares HarbourVest Partners Alterative Assets Hastings Private Capital Alterative Assets HFI Qld Private Equity Units Alterative Assets Industry Funds Management Alterative Assets Industry Super Holdings Alterative Assets Infrastructure Capital Group Alternative Assets ING Investment Management Alterative Assets Integrity Investment Management Australian Shares ISPT Grosvenor International Property Trust Property Kapstream Capital Liquid Defensive L1 Capital Australian Shares Lazard Asset Management International Shares, Alternative Assets Lend Lease Property Lexington Partners Alternative Assets Macquarie Investment Management Alternative Assets Members Equity Liquid Defensive Pareto Australia Currency Partners Group Alternative Assets Perennial Investment Partners International Shares PIMCO Australia Liquid Defensive Platinum Asset Management International Shares Quellos Kel Fund Illiquid Defensive Schroder Investment Management International Shares Tactical Global Management Currency, Rebalancing Trinity Funds Management Alternative Assets, Property Tyndall Investment Management Australian Shares Vianova Asset Management Liquid Defensive Wilshire Private Equity Alternative Assets Zurich Investment Management International Shares

Australian Shares Investment manager Asset sector Adam Smith Asset Management Australian Shares ANZ Bank Cash Bank of Queensland Cash Colonial First State Cash Commonwealth Bank Cash Cooper Investors Australian Shares Eley Griffiths Australian Shares Greencape Capital Australian Shares Integrity Investment Management Australian Shares L1 Capital Australian Shares Members Equity Cash Tyndall Investment Management Australian Shares International Shares Investment manager Asset sector Aberdeen Asset Management International Shares ANZ Bank Cash Bank of Queensland Cash Colonial First State Cash Commonwealth Bank Cash Edinburgh Partners International Shares Generation Investment Management International Shares Lazard Asset Management International Shares Members Equity Cash Pareto Australia Currency Perennial Investment Partners International Shares Platinum Asset Management International Shares Schroder Investment Management International Shares Tactical Global Management Currency Zurich Investment Management International Shares Diversified Property Investment manager Asset sector AMP Capital Investors Property ANZ Bank Cash Bank of Queensland Cash Charter Hall Property Colonial First State Property, Cash Commonwealth Bank Cash ISPT Grosvenor International Property Trust Property Lend Lease Property Members Equity Cash Trinity Funds Management Property Diversified Fixed Interest Investment manager Asset sector ANZ Bank Liquid Defensive Colonial First State Liquid Defensive Kapstream Capital Liquid Defensive Members Equity Liquid Defensive PIMCO Australia Liquid Defensive Vianova Asset Management Liquid Defensive Cash Investment manager Asset sector ANZ Bank Cash Bank of Queensland Cash Colonial First State Cash Commonwealth Bank Cash Members Equity Cash

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.