AMP Capital's Multi-Manager Balanced

Investment objectives

Investment in: A diversified range of  asset classes, with a focus on growth  assets, in particular shares, property  and alternative assets.
Style: Multi-manager, active and  enhanced index.
Performance benchmark: The average weighted return of the market indices.
Performance objective: To provide a return 3.5% above inflation after investment fees over a 5 year period and a total return, after investment fees and before tax, above the fund’s performance benchmark.
Expected outcome: The expected volatility is medium.

Investment mix

	Benchmark %	Allowable range (%)
Australian shares	30	15-45
International shares	27	15-45
Property	6	0-30
Other*	17	0-50
Fixed interest	16	10-55
Cash	4	0-20

*May include alternative assets such as infrastructure assets, hedge funds and private equity.

Investment returns

For periods ending 30 June 2008
1 year: -9.3%
Since inception: 3.8% p.a.
This option commenced in January 2006.

Click here for the latest investment returns and the unit prices for this investment option.

Investment fee

Estimated investment fees for 2008/2009
Base fee: 0.70% p.a.
Performance fee: 0% to 0.21% p.a.
Buy/sell spread: 0.42%

Actual investment fees 2007/2008
Base fee: 0.70% p.a.
Performance fee: 0.14% p.a.

MERCER'S VIEW

Read Mercer's view AMP Capital's Multi-Manager Balanced.

eXPLANATIONS

INVESTMENT RETURNS
Returns are after investment fees and taxes.
Past performance is not a reliable indication of future performance.
INVESTMENT FEE
Actual investment fees may be less than or greater than indicated, but will not be more than the costs incurred by each option. Refer to page 28 of the Investment guide for more information.
Buy/sell spread as at 16 September 2008. The buy/sell spread for each investment option may vary from time to time to reflect the buy/sell spread charged by the relevant investment managers. Refer to page 29 of the Investment guide for more information.
INVESTMENT OBJECTIVES
When reading the Performance objectives and expected outcomes, it is important to read the information on page 30 of the Investment guide.