FC W Pen-FSI TTR Concentrated Aust Shr

The strategy is based on the belief that stock prices are driven by the ability of management to generate excess returns over their cost of capital in their chosen industry. The option generally invests in a concentrated selection of high quality companies with strong balance sheets and earnings in the S&P/ASX 300 Accumulation Index. The option may use derivatives for efficient portfolio management as well as risk management purposes. The option predominantly invests in Australian companies and therefore does not hedge currency risk.