Investment Objectives

Investment in: International Shares.
Style: Multi-manager, active.
Performance benchmark: MSCI All Country World Index ex Australia with Net Dividends Reinvested, unhedged and evaluated in Australian dollars.
Performance objective: To outperform the benchmark by 2.50% over rolling three years.
Currency: Unhedged.

investment mix

investment rETURNS

For periods ending 30 June 2008
1 year: -20.0%
3 year average: 1.1% p.a.
5 year average: 3.7% p.a.

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: 0.65% p.a.
Performance fee: 0% to 0.15% p.a.
Buy/sell spread: 0.35%

Actual investment fees 2007/2008
Base fee: 0.60% p.a.
Performance fee: 0.13% p.a.
Buy/sell spread: 0.35%

MERCER'S VIEW

Read Mercer's view QIC International Equities (unhedged).

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 1 July 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.