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Information Memorandum17 June 2015

Issued byAitken Investment Management Pty Ltd ACN 603 583 768AFS licence number 473534,the Trustee and Investment Manager of the Fund.

AIM Global High Conviction Fund

Important NoticesIssuerThis Information Memorandum has been prepared by Aitken Investment Management Pty Ltd (ACN 603 583 768, AFS Licence No. 473534) (Investment Manager) in its capacity as Trustee and Investment Manager of the AIM Global High Conviction Fund (Fund). This Information Memorandum relates to an offer to subscribe for Units in the Fund.

InterpretationIn this Information Memorandum, “we”, “our” and “us” are references to Aitken Investment Management Pty Ltd and “you” and “your” are references to a potential investor in the Fund or a Unitholder.

No guarantee Investors should consider the summary of key risks set out in the Information Memorandum.

An investment in the Fund does not represent a deposit with, or liability of, the Investment Manager or any of its related bodies corporate and is subject to certain investment risks, including possible delays in repayment and loss of income and capital invested. None of the Investment Manager or its related bodies corporate guarantees the performance of the Fund, the repayment of capital or any particular rate of return.

This Information Memorandum has been prepared to the best knowledge of the Investment Manager. However to the maximum extent permitted by law, neither the Investment Manager nor its related bodies corporate and their directors warrant the accuracy or completeness of this Information Memorandum or accept any responsibility or liability for any loss or damage, which results from an action or reliance, in whole or part, on such material. Past performance is not indicative of future results.

General information onlyIn preparing this document we have not taken into account the investment objectives, financial situation or particular needs of any particular investor. Before making an investment decision, investors should obtain their own investment advice, taking into account their own investment needs and financial circumstances.

ConstitutionThis Information Memorandum is intended to provide a guide to the principal features of the Fund. An investment in the Fund is subject to the terms of the Constitution. This Information Memorandum is not a comprehensive statement of the Constitution or of all of the terms applicable to an investment in the Fund. Nothing in this Information Memorandum limits or qualifies the rights, powers or discretions conferred upon the Investment Manager, except as otherwise provided under the Constitution. In the event of any inconsistency between the Constitution and this Information Memorandum, the Constitution prevails. A copy of the Constitution may be obtained from the Investment Manager upon request.

Offer to persons in Australia This Information Memorandum can only be used by investors receiving it (electronically or otherwise) in Australia and New Zealand and cannot be used by investors in any other jurisdiction (except where permissible under the laws of that jurisdiction and with our prior written approval). Subject to our prior written approval, units in the Fund are not available for purchase by investors in the United States of America or by any other United

States of America persons or controlled persons (see ‘US Person’ definition on the Application Form).

Notice to New Zealand investorsThe offer of units in the Fund made by way of this Information Memorandum is only available in New Zealand to, and is only capable of acceptance by, persons who are wholesale investors in terms of clause 3(2) of Schedule 1 of the New Zealand Financial Markets Conduct Act 2013 (FMCA). The offer is not to be treated as an offer to, and is not capable of acceptance by, persons in New Zealand who are not wholesale investors.

The offer made by way of this Information Memorandum is not a regulated offer and, as such, is made in circumstances where no disclosure is required to be made under the FMCA. This Information Memorandum is not a product disclosure statement under FMCA. It is not required to, and does not contain, all of the information which would be required to be included in a product disclosure statement.

An offer or invitation to acquire units in the Fund will only be extended to a New Zealand investor who has first satisfied the Manager that the investor is a wholesale investor (within the meaning of clause 3(2) of Schedule 1 of the FMCA). By accepting this Information Memorandum, in order to qualify as an Eligible Investor, each New Zealand investor is taken to have represented to the Manager that the investor is a wholesale investor and undertakes to immediately notify them if it ceases to be a wholesale investor.

New Zealand investors wishing to invest in the Fund should be aware that there may be different tax implications of investing in the Fund and should seek their own tax advice as necessary.

ConfidentialThis Information Memorandum is provided to recipients on a confidential basis for their sole and exclusive use in assessing an investment in the Fund and may not be used for any other purpose or provided to any other person.

Wholesale clients onlyThis Information Memorandum is intended only for “wholesale client” investors (as defined under sections 761G and 761GA of the Corporations Act). This document is not a disclosure document or product disclosure statement for the purposes of the Corporations Act and has not been, and is not required to be, lodged with ASIC. This Information Memorandum has not been prepared to the same level of disclosure required for a product disclosure statement or prospectus.

Updated InformationInformation in this Information Memorandum is subject to change from time to time and Unitholders will be notified of such changes. Where such changes are materially adverse to Unitholders, the Investment Manager will provide 45 days’ prior notice. At any time, you may receive electronic or paper copies of the document and an explanation of any changes by contacting the Investment Manager’s client relationship executive at [email protected].

CurrencyReferences to dollars or “$” are references to AUD dollars unless otherwise indicated.

Table of Contents

Fund key features 4

About Aitken Investment Management 6

About the Fund 7

Applications 9

Redemptions 11

Valuation of the Fund 13

Distributions 14

Key risks of investing 15

Fees and Costs 19

Taxation Considerations 21

Additional Information 24

Glossary 29

Directory 30

Application and other forms 31

Fund key features

Key Feature Summary

For more information please see page

Investment Manager and Trustee

Aitken Investment Management Pty Ltd. 7

Investment Vehicle AIM Global High Conviction Fund, an Australian unit trust. 8

Investment Type The Fund will be an Australian Dollar, global absolute return fund. The Fund will make concentrated investments in its high conviction ideas.

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Investment Objective The Fund aims to outperform the MSCI World Index (USD) (Benchmark) on a net of fees basis. There is no guarantee that the objective will be achieved. It is merely an indication of what the Investment Manager aims to achieve over the relevant period. The Fund may not be successful in meeting this objective. Returns are not guaranteed. The objective does not take into account an investor’s tax position or the impact of fees on returns.

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Investment Strategy The Fund will primarily make concentrated investments in the Investment Manager’s high conviction ideas. The Investment Manager will identify global macroeconomic structural growth themes and the portfolio managers, analysts and traders will select the best instrument globally or domestically for access to those themes. The Fund may invest in equities, derivatives, commodities, currencies and fixed interest. The Fund will implement trading strategies aimed at minimising capital losses including moving fully into cash or via buying derivative protection. The Fund has the ability to short sell. The Fund will also allocate capital for short-term opportunistic trading of liquidity events or equity capital markets transactions (initial public offerings, secondary raisings and block trades). The Investment Manager will target a maximum exposure to any single investment at 15% of the Net Asset Value of the Fund, as at the time of investment.

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Fund Domicile Australia.

Fund Currency Australian Dollars.

Classes Restricted Units. Non-Restricted Units. Applicants will be issued with Restricted Units unless they complete the New Issue Questionnaire (available from the Administrator) and they are deemed eligible to participate in New Issues (as defined on page 11). In this case, applicants will be issued with Non-Restricted Units.

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AIM Global High Conviction Fund I Information Memorandum 4

Structure Aitken Investment Management is the Trustee of, and issuer of Units in, the Fund offered in this Information Memorandum and has prepared this Information Memorandum. The Fund is a unit trust and is not a registered managed investment scheme under the Corporations Act.

Investor Eligibility Wholesale Clients (as defined in the Corporations Act 2001). 10

Applications Monthly, on one Business Days’ notice to the Administrator. Applications will be processed on the first Business Day of each month.

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Minimum Initial Investment

$100,000*. 10

Minimum Additional Investment

$50,000*. 10

Redemptions Monthly, with 30 days prior written notice to the Administrator. Redemptions will be processed on the last Business Day of each month, and it is expected that redemption proceeds will be paid within 15 Business Days. See page 12 for information on the ability to suspend or defer redemptions, in the best interests of Unitholders.

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Minimum Redemption $50,000*. 11

Buy/Sell Spread +/-0.15%. 12

Unit pricing frequency Monthly. 14

Distributions 30 June each year (if any). Distributions will be automatically reinvested in the Fund unless otherwise notified by the Unitholder.

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Management Fees Management fee: 1.5% p.a. (exclusive of GST) of the Net Asset Value of the Fund, payable monthly in arrears. Performance fee: 15% (exclusive of GST) on the Fund’s outperformance of the Benchmark.

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Taxation The Fund is not intended to pay tax, as all income of the Fund will be distributed to investors at least annually. Refer to the ‘Taxation Considerations’ section for more information.

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Administrator Citco Fund Services (Australia) Pty Ltd. 25

Prime Broker and Custodian

Morgan Stanley & Co. International PLC. 25

* Unless the Investment Manager determines otherwise in its discretion.

5AIM Global High Conviction Fund I Information Memorandum

About Aitken Investment Management The Investment Manager is a specialist investment manager focusing on delivering distinct high conviction investment solutions to sophisticated investors. Investment porfolios are constructed primarily using listed global equities and derivatives.

The principals of the Investment Manager have multi-decade experience in financial markets. The Investment Manager’s Chief Executive Officer and Chief Investment Officer, Charlie Aitken, has more than 22 years financial markets experience and is considered one of Australia’s leading macroeconomic forecasters and stock pickers. The Investment Manager’s CEO has assembled a team of highly experienced portfolio managers, analysts and traders to ensure the Fund generates maximum portfolio leverage to both domestic and international high conviction ideas.

The Investment Manager is majority owned by the principals. Designated business functions are supported by top tier external service providers in Legal, Administration, Taxation and Audit.

CHARLIE AITKENDirector, Chief Executive Officer and Chief Investment Officer.

Charlie has more than 22 years of equity and futures market experience. He was the author of the “Ringing the Bell” newsletter and previously the “Under the Southern Cross” newsletter. He is an expert contributor to the Switzer Super Report and, previously, Alan Kohler’s Eureka Report. He appears frequently on Australian and global finanical media as an expert on Australian equities and global macroeconomic strategy.

Charlie’s career experience includes being a Director and Head of Sydney Sales Trading for Citigroup, Executive Director and Partner of Southern Cross Equities and Executive Director and Board Member of the ASX listed Bell Financial Group.

He is best known for his high conviction, top down and bottom up investment ideas formulated from consistently meeting with listed and unlisted companies, policymakers and regulators.

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About the FundInvestment ObjectiveThe Fund aims to outperform the MSCI World Index (USD) (Benchmark) on a net of fees basis. There is no guarantee that the objective will be achieved. It is merely an indication of what the Investment Manager aims to achieve over the relevant period. The Fund may not be successful in meeting this objective. Returns are not guaranteed. The objective does not take into account an investor’s tax position or the impact of fees on returns. Investment strategyThe Investment Manager of the Fund employs a high-conviction thematic long short strategy, investing primarily in global listed equities, as well as selected commodities, currencies and derivatives. The Investment Manager may also choose to move the Fund’s assets entirely to cash during times of extreme uncertainty. The investment philosophy is focused on identifying key macroeconomic thematics, finding undervalued securities exposed to the thematics and looking for asymmetric return profiles. The Fund is a high conviction fund, which means the Investment Manager will make concentrated risk-adjusted investments in our strongest ideas.

The Investment Manager is not constrained to invest by any benchmark or other index. This flexibility allows the Investment Manager to take advantage of a wide variety of market opportunities. The Investment Manager has the ability to invest in companies across a wide range of market sectors and industries located internationally (including emerging markets). In addition, it has the flexibility of using a variety of listed financial instruments such as equities, commodities and derivatives (including options), to invest in both long and short positions.

The core goal of the Fund is to compound capital and implement trading strategies aimed at minimising capital losses. The Fund has ability to outperform in all market conditions due to its ability to trade or invest in all global and domestic financial instruments and currencies from either a long or short bias.

Investment ProcessThe Fund will set a medium-term “top down meets bottom up” strategy. The Investment Manager will identify “top-down” global macroeconomic structural growth themes and will then select, “bottom-up”, the best equities or instrument globally for access to those themes. This may involve long or short positions.The Fund will also allocate capital for short-term opportunistic trading of liquidity events or equity capital markets transactions (initial public offerings, secondary raisings and block trades).

The Investment Manager will employ stop-loss parameters that are intended to limit the capital drawdown of any losing investment or trading ideas. The Investment Manager intends to let the Fund’s winners run and cut losing ideas quickly. The Investment Manager will also implement trading strategies aimed at minimising capital losses including moving fully into cash or via buying derivative protection.

The Investment Manager will target a maximum exposure to any single investment at 15% of the Net Asset Value of the Fund, as at the time of investment.

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3.2.

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Investments of the FundThe types of investments undertaken by the Fund will reflect the objective of the Fund and the investment strategy adopted.

We have the discretion to vary the types of investments of the Fund set out in this Information Memorandum, but will give Unitholders prior notice of any significant alteration to the Fund’s objectives.

The Fund may invest in a wide range of asset classes including:• Australian and international listed securities (in both developed and emerging markets);• Securities expected to list on an Australian or international exchanges within six months;• Exchange traded funds and other managed investment schemes;• Derivatives including equity index futures, volatility indexes, call and put options (both exchange traded and over-the-counter derivatives);• American Depositary Receipts or similar instruments;• Cash, cash-like investments and foreign currencies.

The Fund may short sell and may utilise leverage for investments.

Use of derivativesThe Fund is permitted to invest in derivatives under the Constitution. Financial derivatives, such as exchange traded options, may be used to adjust or implement investment decisions, to help manage certain risk and to gain or avoid exposure to a particular market or security rather than purchasing physical assets.

There are certain risks involved in relation to the use of derivatives by the Fund. Please refer to ‘Derivative risk’ in the ‘Key risks of investing’ section for more information.

BorrowingsIt is our intention that no commercial borrowings of cash will be undertaken in the Fund other than temporary overdrafts which may be used as a means of managing certain cash flows. Should we wish to alter this policy, we will advise Unitholders. The Fund may borrow securities for the purposes of short selling.

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ApplicationsWhat is the minimum investment amount?The minimum initial investment in the Fund is $100,000.The minimum additional investment in the Fund is $50,000.The Investment Manager has the discretion to accept initial and additional investments below these minimums at its discretion.

How to invest?If you wish to invest, please complete the accompanying Application Form and forward it to the Administrator, at the address details shown in the Application Form.

All applicants must satisfy the requirements for a “wholesale client” under the Corporations Act. We reserve the right to reject any application for Units. See the Application Form for more details.

Cleared funds must be electronically transferred into the relevant bank account details (set out below) no later than 5pm (Sydney time) at least one Business Day prior to the relevant Subscription Day (or such earlier or later time as the Investment Manager may determine). The Application Form must also be received by the Administrator no later than 5pm (Sydney time) at least one Business Day prior to the relevant Subscription Day (or such earlier or later time as the Investment Manager may determine).

The bank account details for application purposes are as follows:

Bank: Westpac Banking Corporation For the Account of: Aitken Investment Management Pty Ltd ATF AIM Global High Conviction Fund BSB: 032002 Account Number: 889380 Reference: [Unitholder Name]

Please note: Funds must be transferred from a bank account in the name of the applicant(s) as appears in the registration details on the Application Form. The Administrator will only accept transfers in Australian Dollars, unless the Investment Manager agrees otherwise. No third party payments will be permitted.

The original executed copy of the initially completed Application Form should be sent to the Administrator. A copy may also be faxed to the Administrator on +61 2 9005 0444 or e-mailed to the Administrator at [email protected] with the original to follow.

Early applications are recommended to ensure the deadlines are met, as applications received after these cut off times for any particular Subscription Day may be processed at the next relevant Subscription Day. The Fund receives any interest earned on unallocated application monies.

How to invest more in the Fund?Subsequent additional investments may be made by completing the Additional Investment Form (available from the Investment Manager or the Administrator) and sending this to the Administrator as above.

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How will applications be processed?Applications will generally be processed on the Subscription Day. The application price will be the unit price as at the immediately preceding Valuation Day.

The Investment Manager has the discretion to accept or reject (in whole or in part) any application received. By sending a completed Application Form and application monies to the Investment Manager, you are making an offer to become a Unitholder and you are agreeing to be legally bound by the terms of this Information Memorandum and the Constitution.

What Class of Units?Applicants will be issued Restricted Units and not entitled to participate in New Issues (defined below) unless they contact the Administrator to obtain, and complete a New Issue Questionnaire. If deemed eligible to invest in Non-Restricted Units, holders will participate in New Issues however will be required to certify annually that they continue to be entitled to invest in Non-Restricted Units.

Applicants that are “Restricted Persons” with respect to new issues (New Issues), as those terms are defined under Rule 5130 (FINRA Rule 5130) of the United States Financial Industry Regulatory Authority (FINRA), will be issued with Restricted Units. Under FINRA Rule 5130, New Issues (generally defined as any initial public offering of an equity security) may not be sold, except in limited circumstances, to an account in which a member or certain of its affiliates or relatives (or certain other securities industry professionals/companies) has an interest. Applicants that are not “Restricted Persons” will be issued with Non-Restricted Units. To the extent that the Fund invests in New Issues, any proceeds from such New Issues will be allocated to Non-Restricted Units. If a holder of Non-Restricted Units subsequently becomes restricted from the purchase of New Issues, the Non-Restricted Units held by such Unitholder will be converted by way of redemption and re-issued into a number of Restricted Units of equal Net Asset Value.

In addition, FINRA has also adopted Rule 5131 (FINRA Rule 5131), which prohibits FINRA-registered brokers from allocating New Issues to the executive officers and directors, and the people they materially support, of certain public or private companies that have, or expect to have, an investment banking relationship with such brokers. Consequently the Fund requires investors to make certain disclosures in its Application Form to allow it to indicate to such brokers that they can allocate New Issues to the Fund in compliance with FINRA Rule 5131. While the Fund does not expect to permit more than 25% of its interests to be owned by persons that are potentially restricted investors under FINRA Rule 5131(b) with respect to any company, the Fund may, as necessary to participate in a New Issue, require such investors to fully or partially redeem their Non-Restricted Units for Restricted Units of equal value.

No Cooling Off RightsInvestors entitled to invest in the Fund are not entitled to cooling off rights.

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5 Redemptions What is the minimum redemption amount?The minimum redemption is $50,000. A requested partial redemption which would cause the investor’s investment to fall below the minimum holding of $50,000 will not be permitted, or we may redeem the total holdings of the relevant Unitholder.

The Investment Manager has the discretion to vary the minimum redemption amount or waive the minimum holding in its discretion. How to redeem?Redemptions are generally permitted provided the request is received by the Administrator no later than 5pm (Sydney time) at least 30 calendar days prior to the proposed Redemption Day. The Investment Manager may at its discretion allow redemptions at other times and with longer or shorter notice periods.

Redemption requests can either be mailed or faxed to the Administrator. Redemption requests which are initially received by fax or e-mail will be processed. However, the original redemption request should follow in original format thereafter. The redemption request must be signed by the investor or authorised signatories and must specify the investor number and amount (in dollars or units). Unitholders should note that redemption proceeds will only be paid into the original account in the name of the Unitholder from which the subscription proceeds were derived or, upon approval of the Investment Manager, to another account in the name of the Unitholder. Note that normal bank charges apply.

Redemptions will be paid in Australian Dollars, although, with consent, payments may also be made in specie.

How will redemptions be processed?For redemption requests received before the relevant deadline, the redemption price will be the redemption price as at the close of business on the next Valuation Day. If the request is received after the deadline for receipt of requests for any particular Redemption Day, it will be treated as a request for redemption on the next relevant Redemption Day.

In the ordinary course of business, it is expected that proceeds from redemptions will be paid within 15 Business Days after the Redemption Day. However, the Constitution allows the Investment Manager to have up to 45 Business Days after the relevant Redemption Day to pay the proceeds of a redemption request.

When units are redeemed, the Investment Manager may choose to distribute for tax purposes an amount of undistributed income to the redeeming unit holder, including gains resulting from the realisation of any assets, to fund the redemption as part of the redemption process.

Are there any restrictions on redemptions?If Redemption Notices are received by the Fund with respect to any Redemption Day with an aggregate Net Asset Value of more than 25% (or such higher percentage as the Investment Manager in its discretion may determine) of the Net Asset Value of the Fund, the Investment Manager may, in its discretion, reduce each such request pro rata so that only Units with an aggregate Net Asset Value equal to 25% (or such higher percentage as the Investment Manager in their discretion may determine) of the Net Asset Value of the Fund are redeemed on that Redemption Day.

Any deferred redemption requests will be deemed to have been submitted for the next Redemption Day without the need to submit a further redemption request. The deferral of redemption requests may occur at subsequent Redemption Days if redemption requests exceed the threshold specified above. A redeeming Unitholder’s deemed redemption request will not have priority over redemption requests, whether deemed or otherwise, submitted by other Unitholders for the relevant Redemption Day. If this mechanism has been utilised for three Redemption Days in a row, it cannot be deployed on the fourth Redemption Day. The exercise of the reduction

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(and any discretions provided for herein) of each request for redemptions pursuant to this provision by the Directors must only be exercised where in the material best interests of continuing Unitholders.

Under the Fund’s Constitution, the Fund may suspend redemptions and/or the calculation of unit prices (for such period as it determines) where:

• it is, for any reason, impracticable for it to calculate the Net Asset Value; or• the redemptions would prejudice the Fund’s or the Investment Manager’s compliance with any applicable law; or• there would be insufficient cash retained in the Fund after complying with a redemption request to meet other liabilities and in the Investment Manager’s opinion it is not in the interests of Unitholders for any of the Fund’s assets to be sold in order to satisfy a redemption request; or• sufficient Fund assets cannot be realised at an appropriate price or on adequate terms or otherwise due to one or more circumstances outside the control of the Investment Manager; or• the Investment Manager reasonably estimates that it must sell 5% or more (by value) of all the Fund’s assets to meet current unsatisfied redemption requests; or• there have been, or the Investment Manager anticipates that there will be, redemption requests which will involve realising a significant amount of the Fund’s assets and the Investment Manager considers that if those redemption requests are all satisfied immediately, Unitholders who continue to hold Units may bear a disproportionate burden of capital gains tax or other expenses, or the meeting of those redemption requests would otherwise be to the existing Unitholders’ disadvantage including (but not limited to) a material diminution in the value of the Fund’s assets; or• it is in the interests of the Unitholders to suspend redemptions.

Any redemption requests that is not processed, or for which a unit price has not been calculated or confirmed prior to the commencement of a period of suspension, will be deemed to have been received immediately before the end of the suspension period

What are the Application and Redemption Prices?The application and redemption prices for Units are calculated in accordance with the Constitution and are based on the Net Asset Value of the relevant Class divided by the number of Units in issue in each Class at the relevant time. In general, the Net Asset value is the value of all assets of the relevant Class, less all current and contingent liabilities (as determined by the Investment Manager) attributable to that Class.

The application price is the Net Asset Value per Unit of the relevant Class, plus the buy/sell spread. The redemption price is the Net Asset Value per Unit of the relevant Class, minus the buy/sell spread.

The transaction costs of buying and selling the Fund’s investments are paid from the Fund. When you invest or redeem all or part of your investment, we use a ‘buy/sell’ spread to recover estimated transaction costs associated with buying and selling the Fund’s assets. We use the buy/sell spread to direct transaction costs such as brokerage, commissions and bank charges to transacting investors rather than Unitholders remaining in the Fund. The buy/sell spreads are paid to the Fund and are not paid to the Investment Manager.

The buy/sell spreads is +/-0.15%. We have discretion to waive or reduce the buy/sell spread on applications or redemptions where reduced or no costs are incurred. We will provide notification to Unitholders of any changes to buy/sell spread on our website.

TransfersA transfer of Units must be approved by the Investment Manager at its absolute discretion. We reserve the right to refuse to register any transfer of Units to another person.

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6 Valuation of the FundIn determining the Net Asset Value of the Fund and the Net Asset Value per Unit in a Class, Fund’s assets and liabilities are valued each Valuation Day. Generally, for unit pricing purposes, listed securities are valued using the last available market close price quoted on the relevant exchange. Other assets are generally valued at recoverable value. Any income entitlements and cash at bank are also included in asset values used to calculate the application and redemption price.

Generally, for unit pricing purposes, liabilities are valued at cost. Liabilities also include an accrual for management costs (which includes management fees up to and including the calculation date and a performance fee if payable up to the date before the calculation date) and for costs (if any) that a Unitholder would ordinarily incur when investing in the Fund’s underlying assets.

The Investment Manager has delegated to the Administrator the determination of the Net Asset Value of the Fund and the Net Asset Value per Unit of each Class, subject to the overall supervision and direction of the Investment Manager. In determining the Net Asset Value of the Fund and the Net Asset Value per Share of each Class, the Administrator will follow the valuation policies and procedures adopted by the Fund as set out above. For the purpose of calculating the Net Asset Value of the Fund, neither the Administrator nor the Investment Manager shall, and shall be entitled to, rely on, and will not be responsible for the accuracy of, financial data furnished to it by the Prime Broker, market makers and/or independent third party pricing services. The Administrator or Investment Manager may also use and rely on industry standard financial models or other financial models approved by the Investment Manager in pricing any of the Fund’s securities or other assets. If and to the extent that the Investment Manager is responsible for or otherwise involved in the pricing of any of the Fund’s portfolio securities or other assets, the Administrator may accept, use and rely on such prices in determining the Net Asset Value of the Fund and shall not be liable to the Fund in so doing.

DistributionsTo the extent of net income available for distribution at the end of June, the Fund will make distributions annually as at the end of June (i.e. the distribution calculation date), or on such other day as we determine. Distribution entitlements for a Class will usually be proportionate to the number of Units in a Class held by each Unitholder on each distribution calculation date and will be paid via direct deposit.

Unless otherwise requested by you in writing at least 20 business days (or such lesser period as the Investment Manager may determine) before the scheduled distribution, any distribution entitlements payable to you will be automatically reinvested in the Fund. Distributions that are reinvested will be invested at the Net Asset Value per Unit of the relevant Class without adjustment for the buy/sell spread.

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Key risks of investing A degree of risk applies to all types of investments, including investments in this Fund. Prospective investors should be aware that there is no guarantee that the implementation of the Investment Manager’s investment process will not result in losses to Unit holders, including losses to capital. As investing in the Fund involves exposing your investment to a range of risks, it is important that you understand:

• the risks involved in investing in the Fund;• how these risks compare with the risks of other investments;• how comfortable you are in exposing your investment to risk; and• the extent to which the Fund fits into your overall investment strategy.

Risk can mean different things to different people. It can mean the risk that your investment may fail to achieve the returns that you expect. This includes situations in which your investment may suffer substantial declines in value. It also includes situations in which your investment goals will not be met because the type of investments you chose did not provide the potential for adequate returns. Risk is also often defined to mean investment volatility. That means the extent to which an investment varies in value over a given period. Often, investments offering higher levels of return also exhibit higher levels of short-term volatility.

Investment strategies which seek to minimise risk are at times described in the context of diversification. Diversification of itself may not be sufficient to mitigate all risks described below.

Types of riskInvestments are subject to many risks, not all of which can be predicted or foreseen. Below we have listed the ones we believe to be most relevant to this investment and have broadly explained each risk. The risks set out in this section are not intended to be exhaustive. Many risks are outside the control of the Investment Manager. Before making an investment decision, you should obtain your own investment advice, taking into account your own investment needs and financial circumstances. A prospective investor contemplating an investment into the Fund should consider the entire contents of this Information Memorandum before making a decision to invest in the Fund.

Risks relating to the Fund and Investment ManagerFund riskFund risk refers to specific risks associated with the Fund, such as termination and changes to fees and expenses. We may close the Fund to further investments if, for example, we consider it appropriate given the investment objective and investment strategy of the Fund. We may also terminate the Fund by notice to Unitholders.

Your investment in the Fund is governed by the terms of the Constitution for the Fund, as amended from time to time. There is also a risk that investing in the Fund may give different results from holding the underlying assets of the Fund directly because of:

• income or capital gains accrued in the Fund at the time of investing; and• the consequences of investment and redemption decisions made by other investors in the Fund; for example, a large level of redemptions from the Fund may lead to the need to sell underlying assets which would potentially realise income and/or capital gains.

We aim to manage these risks by monitoring the Fund and acting in investors’ best interests. Winding up the Fund will result in realisation of tax positions (both income and capital) at that time.

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There can be no assurance that the Fund’s investment objective will be achieved, or that a Unitholder will receive a return on their investment. An investment in the Fund should only be undertaken by investors that have the capacity to withstand a partial or even complete loss of their investment and who have a capacity to assess and assume risk. There may be times when your investment in the Fund may be illiquid. There may also be occasions when the Investment Manager and its affiliates encounter potential conflicts of interest in relation to the Fund.

Investment Manager riskThe investment style of an Investment Manager can have a substantial impact on the investment returns of the Fund. No single investment style performs better than all other investment styles in all market conditions. Investment performance will also depend on the skill of the Investment Manager in selecting, combining and implementing investment decisions. Given the Fund relies heavily on the ability of the Investment Manager to identify investments that will outperform other investments, should the Investment Manager make the wrong decision, the Fund may have negative returns. Changes in the personnel of the Investment Manager, in particular Charlie Aitken, may also have an impact on investment returns of the Fund.

Risks relating to the Investment ProgramMarket riskGenerally, the investment return on a particular asset is correlated to the return on other assets from the same market, region or asset class. Market risk is impacted by broad factors such as interest rates, availability of credit, economic uncertainty, changes in laws and regulations (including government responses to financial crises and laws relating to taxation of the Fund’s investment), trade barriers, currency exchange controls, political environment, investor sentiment and significant external events (e.g. natural disasters). These factors may affect the level and volatility of the prices of securities or other financial instruments and the liquidity of the Fund’s investments. Volatility or illiquidity could impair the Fund’s profitability or result in losses. The Fund may maintain substantial trading positions that can be adversely affected by the level of volatility in the financial markets; the larger the positions, the greater the potential for loss.

Volatility riskThe Fund’s investment program may involve the purchase and sale of relatively volatile securities and other instruments. Fluctuations or prolonged changes in the volatility of such instruments can adversely affect the value of investments held by the Fund.

Liquidity riskUnder certain market conditions, such as during volatile markets when trading in a security or market is otherwise impaired, or due to economic, market, legal, political or other factors, the liquidity of the Fund’s investment may be reduced. If a security is not actively traded it may not be readily bought or sold without some adverse impact on the price paid or obtained. If an investor or a group of investors in the Fund seek to make large redemptions, then selling assets to meet those redemptions may result in a detrimental impact on the price we receive for those assets. In certain circumstances we may be required to suspend redemptions (refer to Redemption risk below) to allow sufficient time for a more orderly liquidation of assets to meet the redemptions.

Redemption riskIn certain circumstances (including where assets in which the Fund invests cannot be readily bought and sold, or market events reduce the liquidity of a security or asset class), there is a risk that the anticipated timeframe for meeting redemption requests may not be able to be met. This is because it may take longer to sell these types of investments at an acceptable price. In this case, redemption from the Fund may take significantly longer than the anticipated timeframe or may be suspended or limited (see page12 for more information).

8.3.

8.4.

8.5.

8.6.

8.7.


Derivative riskDerivatives, such as options, futures and swaps, may be used by the Fund for hedging and non-hedging purposes. The value of derivative instruments is linked to the value of an underlying asset (or an interest rate, share index or some other reference point) and can be highly volatile. While derivatives offer the opportunity for higher gains for a smaller initial cash outlay, they can also result in significant losses, sometimes significantly in excess of the amount invested to obtain the derivative.

Risks associated with using derivatives might include the value of the derivative failing to move in line with that of the underlying asset, potential illiquidity of the derivative, the Fund not being able to meet payment obligations as they arise, and counterparty risk (where the counterparty to the derivative contract cannot meet its obligations under the derivatives contract).

Counterparty riskGenerally, the Fund will not be restricted from dealing with any particular counterparty. The Fund is always subject to the risk that a counterparty may not timely settle a transaction, perform its obligations in accordance with contractual terms and conditions, or otherwise not perform its obligations to make due payment or delivery (thus causing the Fund to suffer a loss which may be material), although counterparty risk is lessened in the case of exchange traded options. Moreover, for many transactions, the Fund is required to post collateral to its counterparty, and a failure of that counterparty or its affiliates could result in a loss of that collateral. In the event that a counterparty defaults on its obligations for any reason, the Fund may incur replacement costs of transactions, losses associated with other assets which the failed transaction was intended to hedge, and fees and expenses in seeking redress (which may be uncertain in outcome). Furthermore, any misconduct on behalf of counterparties, including, without limitation, fraudulent activities, will increase the Fund’s exposure to risk of loss. See also Prime Broker and Custodian risk below.

Prime Broker and Custodian riskThe Fund’s investments may be borrowed, lent, pledged, charged, rehypothecated, disposed of or otherwise used by the Prime Broker for its own purposes, whereupon such assets will become the absolute property of the Prime Broker (or that of its transferee) or become subject to the charge created by such charge, pledge or rehypothecation, as the case may be. The Investment Manager will have a right against the Prime Broker for the return of equivalent assets and will rank as an unsecured creditor in relation thereto. As such, as is normal in prime broker agreements, there is a risk that the Investment Manager may not be able to recover such equivalent assets in full in the event of the insolvency of the Prime Broker. Any cash which the Prime Broker receives on the Fund’s behalf will not typically be subject to the client protections conferred by relevant laws. The Fund will rank as an unsecured creditor to the Prime Broker in case of their insolvency. Accordingly, the Fund may not be able to recover equivalent assets in full should the Prime Broker become insolvent.

For further details, please see the section “Material Contracts”.

Credit riskThere is a risk that an issuer of a security in which the Fund has invested will default on its obligations due to insolvency or financial distress, resulting in an adverse effect on the value of the Fund’s investments and hence the net asset value per Unit.

Regulatory riskRegulatory actions by governments and government agencies could materially affect the global markets, including the pricing of securities, and may limit the Fund’s activities or investment opportunities.

8.8.

8.9.

8.10.

8.11.

8.12.


Systemic riskThe Fund is actively involved in globally linked financial markets and is subject to risk arising from a default by one or several large institutions that engage in substantial transactions and other activities with each other, and are dependent on one another to meet their liquidity or operational needs, so that a default by one institution creates the risk of a series of defaults by the other institutions. This risk is separate from the risk of dealing directly with a counterparty that fails and can impact participants in markets even if they do not have direct relationships or exposure to the defaulted financial institution. This is sometimes referred to as “systemic risk” and may adversely affect financial intermediaries, such as clearing agencies, clearing houses, banks, securities firms and exchanges, with which the Fund interacts on a daily basis.

Leverage riskThe Fund may leverage its capital because the Investment Manager believes that the use of leverage may enable the Fund to achieve a higher rate of return. Accordingly, the Fund may pledge its securities in order to borrow additional funds for investment purposes. The Fund may also use leverage in its investment return with derivatives and short sales. The amount of borrowings which the Fund may have outstanding at any time may be substantial in relation to its capital. Leverage can magnify both the gains and losses. Unitholders may experience increased volatility in the value of their investments.

Diversification riskThe Investment Manager intends to seek to diversify the Fund’s investments as it deems appropriate and consistent with the Fund’s investment objective. However, when the Fund’s investment portfolio is concentrated in a small number of investments, the portfolio will be subject to a greater level of volatility.

Currency Risk and HedgingForeign exchange fluctuations may have a positive or adverse impact on the investment returns of the Fund. The Fund’s foreign currency exposure may be over or under hedged or not hedged at all. It may not always be possible to hedge all foreign currency exposures and there is no guarantee that hedging will be successful.

Foreign Investment and Emerging Markets RiskThe Fund may, through its foreign investments (including emerging markets) and exposure to foreign currencies, have exposure to risks not usually associated with investing in Australia and other developed markets such as political, social and economic instability, difficulty in enforcing legal rights, unforeseen taxes and less stringent regulatory protections, reporting and disclosure. These factors may affect the value of the Fund, volatility of the Fund’s returns and liquidity of the Fund’s investments.

8.14.

8.13.

8.15.

8.16.

8.17.


9 Fees and Costs Management FeeThe Investment Manager is entitled to a management fee of 1.5% per annum of the Net Asset Value of the Fund calculated monthly, and payable monthly in arrears. The management fee is charged for acting as Trustee of the Fund, managing its investments and overseeing the Fund’s operations.

Performance feeThe Investment Manager is entitled to a performance fee where the relevant Class’s return exceeds the Benchmark return. This fee is calculated as 15% of the amount by which Class’s return exceeds the Benchmark return in a given Performance Period. The performance fee is calculated and accrued monthly and payable to the Investment Manager every six month period ending 30 June and 31 December each year (Performance Period).

The return of a Class must exceed the return of the Benchmark over the Performance Period before a performance fee becomes payable to the Investment Manager in respect of the Class. The return of a Class is measured by its Net Asset Value per Unit (after management fees and adding back any distributions during the Performance Period and adding back any accruals for performance fees) (Adjusted Unit Price). The returns of a Class and the Benchmark are calculated from the beginning of a Performance Period, independently of the returns in prior periods. Accrued performance fees are incorporated into the Net Asset Value of the Class. The performance fee is calculated as the sum of the monthly fee accruals. In the event that the return on a Unit in a Class is less than the Benchmark during a Performance Period, no performance fee will be payable for that Performance Period. The Benchmark may not always be positive and accordingly, a performance fee may be accrued and payable even if the relevant Class has a negative return. Where Units are redeemed, any accrued performance fees in respect of Units being redeemed will become payable. If the Investment Manager ceases to manage the Fund or the Fund is terminated, then any accrued or unpaid performance fees will become payable.

Performance fee exampleThe table below provides a dollar fee example based on a Unitholder with a $250,000 investment in a Class. The example assumes no other applications or redemptions have been made. The unit price at the beginning of the Performance Period is assumed to be $1.00 per unit. Please note that this is just an example and should not be taken as an indication or guarantee of future performance, nor an indication of the performance fee that may be charged in the future.

Example 1:

For the period 1 January to 30 June, we assume:• the Adjusted Unit Price increased from $1.00 to $1.10 (namely 10%);• the Benchmark increased during this period 8%

9.1.

9.2.

Unit return = $0.10Benchmark return = $1.00 * 8% = $0.08Outperformance = $0.10 - $0.08 = $0.02Performance fee = 250,000 units * $0.02 * 15% = $750

In this case, the Unitholder pays $750 in performance fees on a pre-performance fee return of $25,000.

Example 2:For the period 1 January to 30 June, we assume:

• the Adjusted Unit Price increased from $1.00 to $1.08 (namely 8%);• the Benchmark increased during this period 10%

Unit return = $0.08Benchmark return = $1.00 * 10% = $0.10Outperformance = $0.08 - $0.10 = - $0.02In this case, no performance fee is payable for the Performance Period = zero

Expenses All costs or general expenses incurred (or that will be incurred) by the Investment Manager in connection with the management of the Fund are payable out of the Fund. The Investment Manager is responsible for providing at its cost all staff, office space and office facilities required for the performance of its services. The Fund will pay all other expenses incidental to its operations, including, but not limited to, fees payable to the Fund’s Service Providers (e.g. Administrator and Prime Broker and Custodian) and their out of pocket expenses incurred on behalf of the Fund, taxes imposed on the Fund or the Investment Manager; governmental charges and duties; the Fund’s advisers (e.g. legal, accounting and audit), investment research, printing and distributing the Information Memorandum, subscription materials, marketing materials and any reports and notices to Unitholders or prospective Unitholders. The Fund may also pay unanticipated expenses arising from its business, such as litigation and indemnification expenses. All costs and expenses associated with the launch of the Fund, including professional fees will be paid by the Fund and amortised over the period of up to 60 months from the commencement of the Fund.

GST Fees and costs stated in this section are expressed exclusive of GST. The Fund will claim all input tax credits or reduced input tax credits as applicable for any GST incurred by the Fund. If the Investment Manager becomes liable to pay GST on any fees or costs, the Investment Manager is entitled to recover an amount with respect to GST from the Fund.

9.3.

9.4.


10 Taxation Considerations The summary Australian taxation information contained in this document is a general guide in relation to the Australian taxation implications applicable to the Fund for Australian resident investors who hold their units in the Fund on capital account.

The summary reflects the income tax legislation in force, and the interpretation of the Australian Taxation Office and the Courts, as at the date of issue of this document. Further, as the Australian tax laws are subject to continual change, the summary should not be relied upon as a complete statement of all the potential tax considerations which may arise upon investing in the Fund.

AdviceWe do not provide tax advice. As the tax treatment applicable to particular investors may differ, we strongly recommend that investors seek advice from a suitably qualified adviser as to the Australian taxation implications (including capital gains tax (CGT) and Goods and Services Tax) of their proposed investment in the Fund.

Fund taxationThe Investment Manager, as the Trustee of the Fund, does not expect to be subject to Australian income tax (including CGT) in relation to the Fund, as it is intended that investors will be presently entitled to all of the distributable income of the Fund in respect of each financial year.

Investors will be subject to tax on their share of the tax net income of the Fund, in proportion to their entitlement to the distributable income of the Fund, in the year in which their entitlement arises, irrespective of whether the income is distributed in cash after year end.

Investors may be entitled to franking credits which arise from franked dividends received in respect of the Fund’s investment in Australian shares. Subject to various eligibility criteria, including the holding period rule, investors can use the credits to reduce the tax liability on their share of the tax net income of the Fund or other assessable income. Excess franking credits may be refundable to resident individuals and complying superannuation entities, and in certain circumstances may give rise to tax losses for companies.

Managed Investment Trust (MIT) deemed CGT electionSubject to satisfying the eligibility requirements to be a MIT for deemed CGT treatment, the Fund may make the MIT deemed CGT election. Where the election is made, and subject to the Fund continuing to qualify as an MIT, the Fund would hold its eligible assets (including equities, and units in other trusts, but excluding derivatives and foreign exchange contracts) on capital account.

Where the Fund does not meet the MIT eligibility criteria, the Investment Manager endeavours to invest, divest and deliver returns in a manner consistent with holding investments on capital account for the purposes of the Income Tax Assessment Act (ITAA) 1997.

Realised capital gains distributed by the Fund should be included with an investor’s other capital gains and losses. Capital gains distributed by the Fund should benefit from the discount available for assets held for 12 months or more. The amount of the discount is one-half for individuals and trusts, and one-third for complying superannuation entities. Distributions of non-assessable amounts or returns of capital may give rise to reductions in the investor’s tax cost base in the Fund or a capital gain if the tax cost base has been exhausted by such distributions received earlier.

If investors redeem, switch or transfer any part of their investment in the Fund, it is generally treated as a disposal and investors may be subject to CGT.

10.1.

10.2.

10.3.

Foreign IncomeThe Fund may derive income from sources outside Australia. An investor’s share of the gross foreign income will be treated as foreign income for that investor. Investors may be entitled to a foreign income tax offset for any foreign tax paid by the Fund on the income.

Taxation of Financial Arrangements (TOFA) regimeThe TOFA rules may apply to certain “financial arrangements” held by the Fund, such as derivatives. In broad terms, in calculating the net (taxable) income of the Fund, returns on certain financial arrangements may be recognised on an accruals basis rather than a realisation basis, and on revenue account. The Administrator of the Fund will assist the Investment Manager with compliance with the TOFA rules, as required by the tax legislation.

Goods and Services Tax (GST)The Fund is registered for GST. The issue or redemption of units in the Fund and where applicable the receipt of any distributions are not subject to GST. The Fund may be required to pay GST included in certain fees, charges, costs and expenses incurred by the Fund. However, to the extent permissible, the Investment Manager will claim on behalf of the Fund a proportion of this GST as a reduced input tax credit. To the extent that the Fund is investing in international securities, the Fund may be entitled to as yet undetermined additional input tax credit on the fees, charges or costs incurred. If the Investment Manager is unable to claim input tax credits on and/or reduced input tax credits on behalf of the Fund, the Investment Manager retains the ability to recover the entire GST component of all fees and charges.

Unitholders should seek professional advice with respect to the GST consequences arising from their investment in the Fund.

Tax File Number (TFN) / Australian Business Number (ABN)Australian investors may notify us of their TFN, ABN (provided they are investing in the course of conducting an enterprise) or their exemption status. In the event that we are not notified of the details, tax may be deducted from gross payments including distributions of income at the highest marginal tax rate, including the Medicare Levy, until such time as the relevant TFN, ABN or exemption is provided. The collection, use and disclosure of your TFN will be in accordance with the tax laws and the Privacy Act.

The investor may be able to claim a credit in the investor’s tax return for any TFN/ABN tax withheld. By quoting their TFN or ABN, the investor authorises the Investment Manager to apply it in respect of all the investor’s investments with the Investment Manager. If the investor does not want to quote their TFN or ABN for some investments, the Investment Manager should be advised.

Withholding taxNon resident investors (if any) may have tax deducted from each distribution comprising of Australian sourced income at the relevant withholding tax rates. Withholding tax should not apply to the franked dividend component of distributions. Further, non resident investors will not be subject to tax in respect of their share of net capital gains in respect of assets of the Fund that do not constitute taxable Australian property.

10.4.

10.5.

10.6.

10.7.

10.8.


Tax reformThe comments noted above are based on the taxation legislation and administrative practice as at the issue date of this document. However, it should be noted that the Australian tax system is in a continuing state of reform, and based on the Government’s reform agenda, reform is likely to escalate rather than diminish. Any reform of a tax system creates uncertainty, whether it be uncertainty as to the full extent of announced reforms, or uncertainty as to the meaning of new law that is enacted pending interpretation through the judicial process.

It will be necessary to monitor the progress of the reforms, and it is strongly recommended that investors seek their own professional advice, specific to their own circumstances, of the taxation implications of investing in the Fund.

Foreign Account Tax Compliance Act (FATCA)FATCA is US tax legislation which was signed into law in the US in March 2010, focusing on strengthening information reporting and withholding compliance with respect to US persons that invest through or in non-US entities. On 28 April 2014, Australia and the US signed an intergovernmental agreement (Australia IGA) to assist in the facilitation of FATCA for Australian financial institutions. Legislation to give effect to Australia’s obligations under the Australia IGA received Royal Assent on 30 June 2014. While it is not expected that the Fund may have FATCA compliance obligations, the Investment Manager is keeping abreast of all developments in this regard, and will communicate any possible additional data collection and or documentation requirements for account holder identification purposes under FATCA as soon as practicable.

10.10.

10.9.


Additional InformationReportingMonthly reports and statements will be provided to Unitholders.

Distribution statements will be provided to Unitholders following each annual distribution.

Following the end of the financial year at 30 June, Unitholders will receive access to an audited financial report for the Fund and have access to an annual tax statement. This information will be provided no later than 31 October of that year.

All reports and statements will be provided electronically.

The Constitution The Constitution should be read by prospective investors. The following is a brief list of some of the key provisions:

• procedures for application and redemption of Units;• issue and redemption price;• valuation of assets;• distributions;• Trustee fees;• powers, rights and duties of the Investment Manager;• retirement or removal of the Investment Manager;• the holding of meetings of Unitholders;• limitation of liability and indemnity of the Investment Manager; and• winding up and termination of the Fund.

We are prohibited from amending the Constitution unless we reasonably consider that the amendment will not adversely affect the rights of Unitholders.

If we reasonably consider the amendment will adversely affect the rights of Unitholders, we will call a meeting of Unitholders who may, by special resolution, approve the amendment.

The constitution also contains provisions regulating the holding of meetings of Unitholders. Among other provisions, the required quorum for a meeting is two or more unitholders representing more than 25% of the units on issue, or more than 50% in relation to meetings to approve changes to the constitution that are adverse to the Manager.

A copy of the Constitution is available upon request.

Termination of the FundThe Fund will terminate on the first to occur of the following dates:

• as and when required by law or the Constitution, including if wound up pursuant to the order of a court; or• the date specified by Investment Manager as the date that the Fund is to terminate in a notice given to Unitholders.

Limitation of Unitholder liability The Constitution seeks to limit the liability of Unitholders to the price paid or agreed to be paid for a Unit. The Constitution provides that a Unitholder need not indemnify us if there is a deficiency in the net assets of the Fund. Our right of recourse, and that of any creditor, is limited to the assets of the Fund.

Your liability is limited by the Constitution to the value of your Units (except where we incur a liability for tax as a result of your actions or inactions) but the courts are yet to finally determine the effectiveness of provisions like this.

11

11.1.

11.2.

11.3.

11.4.

Service ProvidersWe have appointed Citco Funds Services (Australia) Pty Ltd to be the Administrator of the Fund and Morgan Stanley & Co. International PLC as the Prime Broker and Custodian of the Fund (see “Material Contracts”).

Privacy PolicyThe privacy of your personal information is important to us. We and the other service providers collect personal information so that we may provide you with the products and services offered by us including assessing your application and issuing Units in the Fund, and managing and administering your investment in the Fund. Certain laws may require us and the other service providers to collect personal information, including the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth). We and the Administrator collect personal information from the individual or their agent, unless it is unreasonable or impractical to do so. We and the Administrator may disclose and collect personal information from each other for the purposes referred to in this paragraph. Where an applicant is a company or a trust, we and the Administrator may collect personal information from the company or trust, including name and contact details of a contact person, and names and addresses of major shareholders and directors. We and the Administrator may also collect from applicants the names, addresses and contact details of their accountants or agents. If we and the Administrator do not collect your personal information, we and the Administrator will not be able to issue you with Units in the Fund, redeem Units or manage or administer your investment. We and the Administrator may take steps to verify information collected which may involve disclosure to and collection from third parties of personal information. Additionally, your information may be disclosed to third parties for certain purposes that we outsource, in which case confidentiality arrangements apply. Your personal information will not be disclosed to overseas recipients by the Investment Manager. We aim to ensure that the personal information we retain about you is accurate, complete and up-to-date. If you provide us with incomplete or inaccurate information, we may not be able to provide you with the products and services you are seeking.

Each applicant will be required to acknowledge that in connection with the services provided to the Fund that their personal data may be transferred and/or stored in various jurisdictions in which the Administrator and/or its affiliates have a presence, including to jurisdictions that may not offer a level of personal data protection equivalent to the applicant’s country of residence. Each applicant will also be required to acknowledge in the application form that the Fund, the Administrator and/or the Investment Manager may disclose the subscriber’s personal data to each other, to any affiliate, to any other service provider to the Fund or to any regulatory body in any applicable jurisdiction to which any of the Fund, the Administrator and/or the Investment Manager is or may be subject. This includes copies of the applicant’s application form and any information concerning the applicant in their respective possession, whether provided by the applicant to the Fund, the Administrator and/or the Investment Manager or otherwise, including details of that applicant’s holdings in the Fund, historical and pending transactions in the Fund’s units and the values thereof, and any such disclosure, use, storage or transfer shall not be treated as a breach of any restriction upon the disclosure, use, storage or transfer of information imposed on any such person by law or otherwise.”

You acknowledge that any personal information you provide to us or the Administrator will be collected and handled in accordance with the Investment Manager’s and the Administrator’s privacy policies. Those privacy policies respectively contain further information about how an individual may access their personal information held by us and the other service providers and seek the correction of such information, how an individual may complain about a breach of the Australian Privacy Principles, and how we and the other service providers respectively will deal with such a complaint. A copy of the policy of the Investment Manager’s privacy policy can be found at www.aimfunds.com.au. By submitting any form or any other paperwork relating to your investment you consent to your personal information being collected and handled by the Investment Manager or the Administrator in in accordance with those policies.

If you have a complaintAn investor who is dissatisfied with any service or product provided by us may lodge a complaint with us. We will aim to supply a confirmation letter to you and aim to have the complaint resolved as soon as practicably possible.

11.5.

11.6.

11.7.


Material contractsAdministration AgreementThe Investment Manager has entered into an Administration Agreement (Administration Agreement) with the Administrator. The Administrator will perform certain administrative, accounting, registrar and transfer agency services for the Fund.

Pursuant to the Administration Agreement, the Administrator is responsible, under the ultimate supervision of the Investment Manager, for matters pertaining to the administration of the Fund, namely: (i) calculating Net Asset Value; (ii) maintaining financial books and records so far as may be necessary to give a complete record of all transactions carried out by the Administrator on behalf of the Fund; and (iii) providing registrar and transfer agent services in connection with the issuance, transfer and redemption of units.

The Investment Manager has appointed the Administrator to act as registrar and transfer agent (Registrar) for the Fund. The services provided by the Administrator, in the context of acting as Registrar, include the maintenance of a copy of the unit register representing the Fund’s records relating to unit ownership and the redemption of units; receipt of requests for redemption; authorisation of redemption payments; authorisation of disbursements of management and advisory fees, commissions and other charges; and other services as agreed on by the parties.

For the purpose of calculating the Net Asset Value of the units of each Class, the Administrator will rely on, and shall not be responsible for the accuracy of, financial data furnished to it by the Investment Manager any prime broker, custodian and/or any independent third party pricing services. The Administrator will not be responsible or liable for the accuracy of information furnished by other persons in performing its services for the Fund. The Administrator in no way acts as guarantor or offeror of the Fund’s units or any underlying investment, nor is it responsible for the actions of the Fund’s sales agents, any prime broker, custodian, any other brokers or the Investment Manager.

Under the Administration Agreement:(a) the Fund agrees to indemnify and keep indemnified the Administrator and its delegates (together “Indemnified Parties”) from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, claims, demands, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against any of them howsoever arising (other than by reason of a material breach of the Administration Agreement, negligence, fraud or wilful misconduct on the part of the Administrator or any other Indemnified Party) in connection with the provision of the services under the Administration Agreement; and(b) in the absence of material breach of the Administration Agreement by the Administrator or negligence, fraud or wilful misconduct by the Administrator in the provision of the services under the Administration Agreement, the Administrator shall not be liable to the Fund on account of anything done, omitted or suffered by the Administrator in good faith in the provision of the services pursuant to the Administration Agreement.

The Administrator is not responsible for any trading decisions of the Fund (all of which will be made by the Investment Manager).

The Administrator will not provide any investment advisory or management service to the Fund and therefore will not be in any way responsible for the Fund’s performance. The Administrator will not be responsible for monitoring any investment restrictions or compliance with the investment restrictions and therefore will not be liable for any breach thereof.The Administrator is a service provider to the Fund and is not involved directly or indirectly with the organisation, sponsorship, management or other activities of the Fund. The Administrator is not responsible for the preparation of this Information Memorandum and neither the Administrator nor any Indemnified Party accepts any responsibility or liability for any information contained in this Information Memorandum.

11.8.


Prime Broker and CustodianMorgan Stanley & Co. International plc (Prime Broker), a member of the Morgan Stanley Group of companies, based in London, will provide prime brokerage services to the Fund under the terms of the International Prime Brokerage Agreement (Agreement) entered into between the Fund and the Prime Broker for itself and as agent for certain other members of the Morgan Stanley Group of companies (Morgan Stanley Companies). These services may include the provision to the Fund of margin financing, clearing, settlement, stock borrowing and foreign exchange facilities. The Fund may also utilise the Prime Broker, other Morgan Stanley Companies for the purposes of executing transactions for the Fund. The Prime Broker is authorised by the Prudential Regulatory Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.

The Prime Broker will also provide a custody service for the Fund’s investments, including documents of title or certificates evidencing title to investments, held on the books of the Prime Broker as part of its prime brokerage function in accordance with the terms of the Agreement and the rules of the FCA. The Prime Broker may appoint sub-custodians, including the Morgan Stanley Companies, of such investments.

In accordance with FCA rules, the Prime Broker will record and hold investments held by it as custodian in such a manner that the identity and location of the investments can be determined at any time and that such investments are readily identifiable as belonging to a customer of the Prime Broker and are separately identifiable from the Prime Broker’s own investments. Furthermore, in the event that any of the Fund’s investments are registered in the name of the Prime Broker where, due to the nature of the law or market practice of jurisdictions outside the United Kingdom, it is in the Fund’s best interests so to do or it is not feasible to do otherwise, such investments may not be segregated from the Prime Broker’s own investments and in the event of the Prime Broker’s default may not be as well protected.

Any cash which the Prime Broker holds or receives on the Fund’s behalf will not be treated by the Prime Broker as client money and will not be subject to the client money protections conferred by the FCA’s Client Money Rules (unless the Prime Broker has specifically agreed with or notified the Fund that certain cash will be given client money protection). As a consequence, the Fund’s cash will not be segregated from the Prime Broker’s own cash and will be used by the Prime Broker in the course of its investment business, and the Fund will therefore rank as one of the Prime Broker’s general creditors in relation thereto.

As security for the payment and discharge of all liabilities of the Fund to the Prime Broker and the Morgan Stanley Companies, the investments and cash held by the Prime Broker and each such Morgan Stanley Company will be charged by the Fund in their favour and will therefore constitute collateral for the purposes of the FCA rules. Investments and cash may also be deposited by the Fund with the Prime Broker and other members of the Morgan Stanley Group of companies as margin and will also constitute collateral for the purposes of the FCA rules.

The Fund’s investments may be borrowed, lent or otherwise used by the Prime Broker and the Morgan Stanley Companies for its or their own purposes, whereupon such investments will become the property of the Prime Broker or the relevant Morgan Stanley Company and the Fund will have a right against the Prime Broker or the relevant Morgan Stanley Company for the return of equivalent assets. The Fund will rank as an unsecured creditor in relation thereto and, in the event of the insolvency of the Prime Broker or the relevant Morgan Stanley Company, the Fund may not be able to recover such equivalent assets in full.

Neither the Prime Broker nor any Morgan Stanley Company will be liable for any loss to the Fund resulting from any act or omission in relation to the services provided under the terms of the Agreement unless such loss results directly from the negligence, wilful default or fraud of the Prime Broker or any Morgan Stanley Company. The Prime Broker will not be liable for the solvency, acts or omissions of any sub-custodians or other third party by whom or in whose control any of the Fund’s investments or cash may be held. The Prime Broker and the Morgan Stanley Companies accept the same level of responsibility for nominee companies controlled by them as for their own acts. The Fund has agreed to indemnify the Prime Broker and the Morgan Stanley Companies against any loss suffered by, and any claims made against, them arising out of the Agreement, save where such loss or claims result primarily from the negligence, wilful default or fraud of the indemnified person.

11.9.


The Prime Broker is a service provider to the Fund and is not responsible for the preparation of this document or the activities of the Fund and therefore accepts no responsibility for any information contained in this document. The Prime Broker will not participate in the investment decision-making process.

The Fund reserves the right, in its discretion, to change the prime brokerage and custodian arrangements described above including, but not limited to, the appointment of additional prime broker(s) and custodian(s).


12 GlossaryAdministrator means Citco Funds Services (Australia) Pty Ltd.

Application Form means the application form included in the “Application and other forms” section of this Information Memorandum.

ASIC means the Australian Securities and Investments Commission.

Benchmark means MSCI World Index (USD).

Business Day means a day that is not a Saturday, Sunday or a public holiday or a bank holiday in Sydney, NSW.

Class means a class of units in the Fund.

Constitution means the constitution for the Fund, as amended or replaced from time to time.

Corporations Act means the Corporations Act 2001.

Fund means AIM Global High Conviction Fund.

GST means Goods and services tax as defined in the A New Tax System (Goods and Services Tax) Act 1999.

Investment Manager means Aitken Investment Management Pty Ltd ACN 603 583 768 AFSL no. 473534 the Trustee and the Investment Manager of the Fund.

Net Asset Value or NAV means the net asset value of the Fund, being the total value of the a Class or the Fund assets less the liabilities of the Class or the Fund, as determined by the Investment Manager in accordance with the Constitution.

New Issues means as defined on page 11.

Non-Restricted Units means an undivided interest in the Fund as set out in the Constitution, denominated as Non-Restricted Units.

Offer means the offer of Units under this Information Memorandum.

Prime Broker and Custodian means Morgan Stanley & Co. International PLC.

Redemption Day means the last Business Day of each month and/or such other time or times that the Investment Manager may determine.

Restricted Units means an undivided interest in the Fund as set out in the Constitution, denominated as Restricted Units.

Subscription Day means the first Business Day of each month and/or such other time or times that the Investment Manager may determine.

Unit means an undivided interest in the Fund as set out in the Constitution.

Unitholder means a holder of Restricted Units or Non-Restricted Units.

Valuation Day means the last Business Day of each month and/or such other time or times that the Investment Manager may determine.

Directory

Trustee and Investment ManagerAitken Investment Management Pty Ltd

Level 57 MLC Centre19 Martin PlaceSydney NSW 2000

Telephone: +612 9236 7200 Email: [email protected] Website: www.aimfunds.com.au

AdministratorCitco Fund Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney NSW 2000

AuditorErnst& Young680 George StreetSydney NSW 2000 Prime Broker and CustodianMorgan Stanley & Co. International Plc25 Cabot SquareCanary WharfLondon E14 4QAUnited Kingdom

Legal AdviserNorton Rose Fulbright AustraliaLevel 18Grosvenor Place225 George StreetSydney NSW 2000

13


14 Application andother formsHow to InvestTo invest in the Fund you will need to complete and sign the attached Application Form, including the Appendixes.

• Supply of Tax File Numbers (TFN) is discretionary. It is not an offence if you decide not to supply your TFN. If you do not supply your TFN, however, tax will be deducted from your income earned at the highest marginal tax rate (plus Medicare levy) and forwarded to the Australian Taxation Office. These deductions will appear on your statements. A form is attached for your convenience. • Joint applications must be signed by all applicants. Joint investments will be deemed to be held as Joint Tenants. • Applications under Power of Attorney must be accompanied by a certified copy or the original of the Power of Attorney with specimen signatures.

The minimum initial investment in the Fund is $100,000 per investor, unless otherwise approved by Investment Manager. Each investor will need to qualify as a Wholesale Client.

Investors must also complete either Appendix A or Appendix B. These appendixes contain important information which will assist in processing your investment.

Investors will be issued with Restricted Units and not entitled to participate in New Issues. If you wish to participate in New Issues, please contact the Administrator to ask for a New Issue Questionnaire which assesses your eligibility to invest in the Non-Restricted Unit class.

Application monies should be sent by electronic transfer to:

Bank :For the Account of :

BSB :Account Number :Reference :

Westpac Banking CorporationAitken Investment Management Pty Ltd ATFAIM Global High Conviction Fund032002889380[Unitholder Name]

NB: Cash will not be accepted.

Funds must be transferred from a bank account in the name of the applicant(s) as appears in the registration details on the Application Form. No third party payments will be permitted.

The Administrator will only accept transfers in Australian Dollars, unless the Investment Manager agrees otherwise.

Initial applications may be faxed however, the original application form must be received by the unit registry by the relevant cut-off time and date.

Applications must be received no later than 5pm (Sydney time) at least one Business Day prior to the relevant Subscription Day (or such earlier or later time as the Investment Manager may determine).

Please send completed Application Forms to:

Citco Funds Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney, NSW 2000

14.1.

How do you qualify as a Wholesale ClientIf you are investing $500,000 or more in the Fund you are automatically deemed to be a Wholesale Client and no additional documentation is required. If you are investing less than $500,000 additional documentation will be required to certify that you are a Wholesale Client in the form of one of the following:

1. A qualified accountant’s certificate (issued within the last 2 years) certifying that the applicant has:

• net assets of at least A$2.5 million (including the net assets of any company or trust controlled by the applicant), or• a gross income for each of the last two financial years of at least A$250,000 (including the gross income of any company or trust controlled by the applicant).

OR

2. A statutory declaration that the applicant:

• holds an Australian financial services licence, or• is a ‘professional investor’ as otherwise defined in the Corporations Act.

Please complete and provide the attached “Wholesale Client Certificate” with the Application Form if you are relying on one of the categories of Wholesale Client listed in paragraph 1 or 2 above.

Please contact the Administrator if you need assistance in providing the appropriate documentation to certify that you are a Wholesale Client.

Regular InformationFollowing acceptance of your application, you will be sent an application advice. You should check the details on the advice carefully and contact the Administrator if you have any questions.

Additional InvestmentAdditional investments can be made using the Application Form on page 29.

If You Have Any Questions?If you have any questions about any matter relating to the Fund, please telephone the Investment Manager or Administrator.

14.2.

14.3.

14.4.

14.5.

Examples of correct names and required signatures

Type of Investor Correct Name Incorrect Name Signature Required

Individual/ joint investors• use full name of each applicant, do not use initials

Alexander John Smith

Laura Sue Barden

Alex Smith Laura S Barden

• signature of each applicant

Company• use full company title, do not use abbreviations

ABC Pty Ltd

XYZ Limited

ABC P/L

ABC Co

XYZ Inc.

• by two directors, or• by a direc tor and a secretary, or• if there is only one director by that sole director

Trusts/minors• use Trustee(s)/ individual(s)name(s)• use trust/minor name as designation

Paul Ryan Smith ATF <Smith Family Trust>

Paul Ryan Smith<Joel Smith>

Paul Smith Family Trust

Joel Smith

• signature of each Trustee/ • individual• if Trustee is a company see above

Superannuation fund• use Trustee(s)personal name(s)• use fund name as designation

Amy Rachel Wood ATF <Amy Wood Super Fund>

ABC Pty Ltd ATF <Smith Superannuation Fund>

A R Wood Super Fund

Smith Super Fund

• signature of each Trustee • if Trustee is a company, see above

Deceased estates• use executor(s) personal names, do not use name of the deceased

John Smith <Est Jane Smith A/c>

Estate of the Late Jane Smith

• signature of the executor(s)


Name of Offeree Copy Number

APPLICATION FORM

AIM Global High Conviction FundInformation Memorandum dated 12 June 2015

This application form relates to the Information Memorandum dated 12 June 2015 (IM) issued by Aitken Investment Management Pty Ltd, ACN 603 583 768 and AFSL No. 473534 with respect to investments in the AIM Global High Conviction Fund (Fund). Please read the IM in full before completing this Application Form. Unless otherwise specified, terms defined in the IM have the same meaning in this Application Form.

INDIVIDUALS, COMPANIES, TRUSTS & TRUSTEES

Please send your completed Application Form and Identification Documents to:Citco Funds Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney, NSW 2000

A copy may be sent toEmail*: [email protected]*: +61 2 9005 0444

* If you are faxing or emailing your application form, you are also required to post the original to Citco Funds Services. We cannot process your application until we receive the original of this form.


Part A: Investor & Investment Details Is this an application from a new investor?

New investor – please provide the name of the holding (in a format that you want to appear on the unit holder register)

New Investor Name

Contact DetailsFull given name(s) Surname

Company name / Trustee Name / Account Name

ACN or ABN

Street

City/Suburb/Town State Postcode Country

Email address

TelephoneArea code Number

FacsimileArea code Number

You acknowledge that any personal information you provide to Aitken Investment Management or the Administrator will be collected and handled in accordance with the Investment Manager’s and the Administrator’s privacy policies. A copy of each policy can be found at www.aimfunds.com.au and www.citco.com/terms-and-use

In addition a copy may be posted/emailed to you if you contact the Investment Manager on +612 9236 7200 or [email protected]. By submitting any form or any other paperwork relating to your investment you consent to your personal information being collected and handled by the Investment Manager or the Administrator in accordance with that policy.

Investment Details

Amount

Please note the minimum initial investment amount is $100,000 per investor, unless approved by the Investment Manager.

Payment Details

Electronic Funds Transfer (EFT) Bank: Westpac Banking CorporationFor the Account of: Aitken Investment Management Pty Ltd ATF AIM Global High Conviction FundBSB: 032002 Account number: 889380 Reference: [Unitholder name]


Taxation DetailsAre you a resident of Australia for taxation purposes? (Select one of the following options)

Yes - please complete the below

No – please provide country of residence:

Tax File Number (TFN) or Australian Business Number (ABN):

Exemption Number:

Please indicate to whom this TFN or ABN belongs:

Company Trust/Super Fund Individual Other – please specify:

Please note: You are not obliged to provide either your TFN or ABN but if you do not provide either your TFN or ABN and unless you claim a TFN exemption, the Trustee will be required to deduct tax at the highest marginal tax rate (plus Medicare levy). By inserting the ABN and signing this Application Form, you declare that this investment is made in the course or furtherance of your enterprise. Collection of TFN information is authorised and its use and disclosure are strictly regulated by the tax laws and the Privacy Act 1988 (Cth).

Distributions and redemption proceedsYour bank account detailsDistributions and redemption proceeds can only be paid to an Australian bank account and cannot be paid by cheque. By completing this section you confirm that any distributions and redemption proceeds sent by EFT to a designated bank account are sent at your risk insofar as the onus to provide bank account details rests solely on you. Transfer charges will be levied.

Please pay distributions and redemption proceeds to the following bank account:

Bank

Branch Name

BSB Account Number

Account Name


Part B: Investor IdentificationIf you are a new investor, please complete PART A: Investor & Investment Details section (being the first two pages) and PART B: Investor Identification section of the Application Form, and send all documents to the Administrator at the address below. If your investor type does not fall into any of the three investor categories in sections 1-3 of this form please contact the Administrator to enquire about what information and documentation is required for identification purposes under Anti-Money Laundering/Counter Terrorism Financing legislation (AML/CTF Law). Please also complete section 4 and either Appendix A or Appendix B.

You will be issued with Restricted Units and not entitled to participate in New Issues. If you wish to participate in New Issues, please contact the Administrator to ask for a New Issue Questionnaire which assesses your eligibility to invest in the Non-Restricted Unit class.

Our verification procedure and requirements (including certified identification evidence) is included for your reference. If you are an existing investor making an additional investment, you may fax your instruction to the Administrator to fax number +612 9005 0444. Existing investors whose details have changed must also complete the Identification Documentation section and send all documents to the Administrator at the address below.

Please send your completed Application Form and Identification Documents to:Citco Funds Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney, NSW 2000

A copy may be sent toEmail*: [email protected]*: +61 2 9005 0444

* If you are faxing or emailing your application form, you are also required to post the original to Citco Funds Services. We cannot process your application until we receive the original of this form.

SECTION 1Investor Type : Australian & Foreign CompanyPlease note, if you are an Australian Company acting as Trustee of a fund, please also complete Section 2.

1.1 General InformationFull name as registered by ASIC or foreign registration body

Registration number (select the following categories which apply to the company and provide the information requested)

ACN

ARBN

Foreign body registration number

Please provide name of the registration body below

Country of formation / incorporation / registration


Registered office address (PO Box is NOT acceptable)Street


Email

TelephoneArea Code Number

FacsimileArea Code Number

Principal place of business (if any) (PO Box is NOT acceptable)Street


Email



1.2 Regulatory/ Listing DetailsSelect the following categories which apply to the company and provide the information requested

Regulated company (licensed by an Australian Commonwealth, State or Territory statutory regulator)Regulator name

Licence Number

Australian listed companyName of market / exchange

Majority-owned subsidiary of an Australian listed companyAustralian listed company name

Name of market or exchange

Foreign listed public companyCountry of formation / incorporation / registration

Name of market or exchange


1.3 Company TypeSelect only ONE of the following categories

Public Section 1 now completed, continue to Section 4 Proprietary/Private Go to Section 1.4 and 1.5 below. Other Go to Section 1.4 and 1.5 below

1.4 DirectorsOnly needs to be completed for proprietary, private and other companies. This section does NOT need to be completed for public and listed companies.

How many directors are there?

Provide full name of each director

Full given name(s) Surname

If there are more directors, provide details on a separate sheet of paper and attached it to your application form.

1.5 ShareholdersOnly needs to be completed for proprietary, private or other companies that are not regulated companies as selected in Section 1.2

Provide details of shareholders who own 25% or more of the company’s issued capital.

Shareholder 1

Full given name(s) or company name Surname

Address (PO Box is NOT acceptable)

Street


Email



Shareholder 2




Street


Email



Shareholder 3



Street


Email



If the company is an Australian company or Foreign company registered with ASIC this form is now Complete.

1.6 Beneficial Holdersonly needs to be completed for proprietary, private or other companies that are not regulated companies as selected in Section 1.2

Provide details of ALL individuals who are the ultimate beneficial owners. If the shareholders described in Section 1.5 above are the beneficial holders, then you do not need to complete this section.

A beneficial owner is any individual who ultimately “owns” or “controls” (directly or indirectly) the applicant. “Control” includes control as a result of, or by means of, trusts, agreements, arrangements, understandings and practices, including exercising control through the capacity to determine decisions about financial and operating policies of the investor. “Owns” means ownership (either directly or indirectly) of 25% or more of the applicant.

Beneficial Holder 1


Date of Birth (dd/mm/yyyy)

Residential Address (PO Box is NOT acceptable)

Street


Email




Beneficial Holder 2




Street


Email



Beneficial Holder 3




Street


Email



If there are more beneficial holders, provide details on a separate sheet of paper and attached it to your application form.For all beneficial holders please provide the following information in addition to completing this section:

• Certified copy of a Primary Photographic Identification Document (see below for definition); or• Certified copy 1 of a Primary Non-Photographic Identification Document and a Secondary Identification Document

(see below for definitions).

If the company is a Foreign company please also attach certified copy of the certification of registration issued by the relevant foreign registration body.


SECTION 2Investor Type : All Trusts (Including Superannuation Funds)

2.1 General InformationFull name of trust

Full name of the Trustee of the trust

Country where trust established

2.2 Type of Trust Select only one of the following trust types and provide the information requested)

Registered managed investment scheme

Provide Australian Registered Scheme Number (ARSN)

Licence Number

Regulated trust (e.g. an SMSF)

Provide name of the regulator (e.g. ASIC, APRA, ATO)

Provide the trust’s ABN or registration / licensing details

Government superannuation fund

Provide name of the legislation establishing the fund

Other trust type

Trust description (e.g. unregistered, fixed, family, unit)

For other trust types please complete the following additional sections: • If you are completing this form as an Individual Trustee please complete ‘Section 3 - Investor Type: Individual’ in

addition to sections 2.3 and 2.4.• If you are completing this form as a Corporate Trustee please complete ‘Section 1 - Investor Type: Company’ in

addition to sections 2.3 and 2.4.• If you are completing this form both as Individual and Corporate Trustee please complete ‘Section 3 -Investor Type:

Individual’ and ‘Section 1 - Investor Type: Company’ in addition to sections 2.3 and 2.4.

In addition to completing sections 2.3 and 2.4, for other trust types please provide the following documentation:• Certified copy1 or certified extract of the trust deed; or• Notice of assessment or certified copy 1 of assessment issued by the ATO in the last 12 months.

1For the definition of certified copy and list of people that can certify documents refer to Section 5 of Part B.


2.3 Beneficiary DetailsOnly complete if “Other trust type” is selected in section 2.2 above

Do NOT complete if the trust is a registered managed investment scheme, regulated trust (e.g. SMSF) or government superannuation fund.

Do the terms of the trust identify the beneficiaries by reference to membership of a class?

Yes

Provide details of the membership class/ese.g. unit holders, family members of named person, charitable purpose

No

How many beneficiaries are there?

Provide full name of each substantial trust beneficiary below i.e. those specified in the trust deed as having an entitlement to 25% or more of trust income or assets.


If there are more beneficiaries, provide details on a separate sheet of paper and attached it to your application form.

2.4 Trustee Details only complete if “Other trust type” is selected in section 2.2 above

Do NOT complete if the trust is a registered managed investment scheme, regulated trust (e.g. SMSF) or government superannuation fund.

How many Trustees are there?

Trustee 1

Full given name(s) or Company name Surname

Residential address if an individual Trustee or company registered office address (PO Box is NOT acceptable)

Street


Email




Trustee 2


Residential address if an individual Trustee or company registered office address (PO Box is NOT acceptable)

Street


Email



If there are more Trustees, provide details on a separate sheet of paper and attached it to your application form.

2.5 Settlor Details Do any of the following apply? tick as appropriate

the material asset contribution to the trust by the settlor at the time the trust is established is less than AU$10,000

the settlor is deceased

the trust is a managed investment scheme registered by ASIC; or is a managed investment scheme that is not registered by ASIC and that only has wholesale clients and does not make small scale offerings; or is a trust subject to the regulatory oversight of an Australian statutory regulator; or is a government superannuation fund

If not, provide the following details of the settlor:


SECTION 3Investor Type: (Individual)Investor’s name must match investor’s ID exactly. If there are joint individual investors, provide details on a separate sheet of paper and attached it to your application form.



Residential address (PO Box is NOT acceptable) Only provide address details if not provided in Section 2.4 above

Street



COMPLETE THIS PART IF INDIVIDUAL IS A SOLE TRADER

Full business name ABN (if any)

Principal Place of Business (if any) (PO Box is NOT acceptable)

Street


For all Individual investors please provide the following information in addition to completing this section:• Certified copy1 of a Primary Photographic Identification Document (see below for definition); or• Certified copy1 of a Primary Non-Photographic Identification Document and a Secondary Identification Document

(see below for definitions).

What are the Identification Documents?

Primary Photographic Identification Documents; 1. Licence or permit issued by State or Territory of Australia or equivalent authority of a foreign country for the

purpose of driving a vehicle that contains a photograph of the person in whose name the document is issued.2. Passport issued by Commonwealth of Australia.3. Passport issued for purpose of international travel that is issued by a foreign government and contains a

photograph and the signature of a person in whose name the document is issued (accompanied by a written translation prepared by accredited translator where required).

4. Card issued by a State or Territory of Australia for the purpose of proving a person’s age that contains a photograph of the person in whose name the document is issued.

5. National Identity Card issued by a foreign government, for the purpose of identification that contains a photograph of the person in whose name the document is issued (accompanied by a written translation prepared by accredited translator where required).

Primary Non-Photographic Identification Documents; 1. Birth Certificate or Birth Extract issued by a State or Territory of Australia.2. Citizenship Certificate issued by Commonwealth of Australia.3. Citizenship Certificate issued by a foreign Government (accompanied by a written translation prepared by

accredited translator where required).4. Birth certificate issued by a foreign government (accompanied by a written translation prepared by accredited

translator where required).5. Pension card issued by Centre Link that entitles financial benefits to the person in whose name the card is issued.

Secondary Identification Documents;1. A notice that was issued to an individual by the Commonwealth, a State or Territory of Australia within the

preceding 12 months that contains the name of the individual and his or her residential address and records the provision of financial benefits to the individual under a law of the Commonwealth, State or Territory.

2. A notice that was issued to an individual by a local government or utilities provider in Australia within the preceding 3 months that contains the name of the individual and his or her residential address and records the provision of services by that local government body or utilities provider to that address or to that person.

1For the definition of certified copy and list of people that can certify documents refer to Section 4 of Part B.


SECTION 4FATCA The Foreign Account Tax Compliance Act (FATCA) is the global compliance framework which requires US and foreign funds to identify investors’ tax residency and ensure compliance of foreign financial institutions. The scope of FATCA has been broadened to incorporate various Intergovernmental Agreements between the US and a number of other countries:

All new investors in the Fund will need to be identified in compliance with the FATCA regulations. This will generally be accomplished through the completion and submission of US tax withholding forms W8BEN, W8BEN-E, W-8IMY, W-8EXP, Form 8233 and/or W-9, as well as any self-certification statements necessary under FATCA.

Please see the link below to the current IRS W-tax forms that you may be required to provide. The self-certification forms for individuals and entities (e.g. company, trust or partnership) are included at Appendix A and Appendix B respectively.

All investors must complete the relevant self-certification form applicable to them. Please indicate which self-certification form you have completed:

Individual self-certification form Entity self-certification form

The Administrator has modified its investor registration process to comply with the FATCA obligations for new investor onboarding, effective 1 July 2014. To enable this process, the Administrator has partnered with Comply Exchange, an IRS accepted, process driven system for obtaining Forms W8, W9 & 8233 as well as self- certification statements electronically.

Users will be provided with a digital certificate and log in details via email directing users to Comply Exchange at the following address https://FATCA-onboarding.citco.com/, which will guide them through the form submission process

For additional information, please contact:Citco Fund Services (Australia) Pty. Ltd.Level 22, 45 Clarence StreetSydney, NSW 2000Australia

Tel: +61 2 9005 0400Fax: +61 2 9005 0444Email: [email protected]

For further instructions, please contact your tax advisor or visit http://www.irs.gov/


SECTION 5Certified Copy of an Original Document Certified copy means a document that has been certified as a true copy of an original document.

Certified extract means an extract that has been certified as a true copy of some of the information contained in a complete original document by one of the persons described in the sub-paragraphs below.People who can certify documents or extracts are:

• a lawyer - a person who is enrolled on the roll of the Supreme Court of a State or Territory, or High Court of Australia, as a legal practitioner (however described);

• a judge of a court;• a magistrate;• a chief executive officer of a Commonwealth court;• a registrar or deputy registrar of a court;• a Justice of Peace;• a notary public (for the purposes of the Statutory Declaration Regulations 1993);• a police officer;• a postal agent - an agent of the Australian Postal Corporation who is in charge of an office supplying postal services to

the public;• the post office - an permanent employee of The Australian Postal Corporation with 2 or more years of continuous

service who is employed in an office supplying postal services to the public;• an Australian consular officer or an Australian diplomatic officer (within the meaning of the Consular Fees Act

1955);• an officer with 2 or more continuous years of service with one or more financial institutions (for the purposes of the

Statutory Declaration Regulations 1993);• a finance company officer with 2 or more continuous years of service with one or more financial companies (for the

purposes of the Statutory Declaration Regulations 1993);• an officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or

more continuous years of service with one or more licensees; and• an accountant - a member of the institute of Chartered Accountants in Australia, CPA Australia or the National

Institute of Accountants with 2 or more years of continuous membership.

The eligible certifier must include the following information:

• Their full name• Address• Telephone number• The date of certifying• Capacity in which they are eligible to certify, and• An official stamp/seal if applicable

The certified copy must include the statement, “I certify this is a true copy of the original document”.For photographic documents, the certified copy must include the statement, “I certify this is a true copy of the original document and the photograph is a true likeness”.Documents that are written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.


Declaration and Signature I/we (an investor) acknowledge declare and agree that by signing this Application Form:

• I have received and read the IM to which this Application Form applies and have received and accepted the offer to invest in Australia.

• I am in compliance with the legal requirements applicable to me in the legal jurisdiction in which I am resident/established, relating to the acquisition, holding and disposition by me of any investment in the Fund, and Units in the Fund have not been offered or promoted to me in violation of any securities laws applicable to me.

• I confirm that the acquisition of Units will not result in me holding a prohibited interest at law, or any person (including Aitken Investment Management Pty Ltd) contravening, requiring approval of or needing to effect any filing under the provisions of the Competition and Consumer Act 2010 (Cth) or the Foreign Acquisitions and Takeovers Act 1975 (Cth).

• I am a wholesale client as defined in section 761G or section 761GA of the Corporations Act, and I have no intention of dealing (within 12 months after acquiring an interest in the Fund) with any Units in the Fund in a manner which would result in anyone other than a “wholesale client” holding an interest in the Fund.

• If I have received the IM from the internet or other electronic means that I received it personally or a print out of it, accompanied by this Application Form.

• All details provided by me in this Application Form are true and correct and I understand that Aitken Investment Management will rely on the information in this Application Form.

• I have asked and have been provided with a copy of, and have read, the Constitution.

• I will be bound by the provisions of the current IM and the Constitution, as amended from time to time, and I will become a Unitholder on and subject to the terms of the Constitution (which terms will prevail over this IM to the extent of any inconsistency).

• Aitken Investment Management is authorised to apply or use the TFN or ABN provided above for all future applications for Units, unless I notify Aitken Investment Management otherwise.

• None of Aitken Investment Management or its related bodies corporate guarantees the repayment of capital invested in the Fund, the performance of the Fund or any particular return from the Fund.

• I understand the risks involved in investing in the Fund.• I/we have read and understood the privacy section in the

IM.• Aitken Investment Management may be required to pass

on information about me or my investment to the relevant regulatory authority in compliance with the AML/CTF Law. I will provide such information and assistance that may be requested by Aitken Investment Management to comply with its obligations under the AML/CTF Law and I indemnify it against any loss caused by my failure to provide such information or assistance.

• The monies used to fund my investment in the Fund are

not derived from or related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Australian law, international law or convention (‘illegal activity’) and the proceeds of my investment in the Fund will not be used to finance any illegal activities.

• I am not a ‘politically exposed’ person or organisation for the purpose of any AML Law and will notify the Administrator if I become a ‘politically exposed’ person or organisation for the purposes of the AML/CTF Law.

• I consent to details about my application and holdings being disclosed in accordance with the “Privacy Policy” section of the IM.

• If acting as a Trustee on behalf of a superannuation fund or other trust, I am acting in accordance with my designated powers and authority under the fund’s trust deed and applicable legislation and I am the sole Trustee (unless otherwise expressly stated), and in the case of a superannuation fund, I also confirm that it is a complying fund under the Superannuation Industry (Supervision) Act 1993.

• I am not a U.S. Person and are not subscribing for the Units on behalf of, or for the benefit of, a U.S. Person nor do I intend on selling or transferring any Units which I may subscribe for to any person who is a U.S. Person and I was not in the United States of America at the time that any Units were offered to me or at the time I completed and submitted this Application Form. I will promptly notify Aitken Investment Management at any time when I become a U.S. Person, and agree that in such event the Fund will be entitled to (but will not be obliged to) require me to redeem my Units at a price equal to the prevailing redemption price per Unit as at the date of the sale or as at the date of any unauthorized transfer giving rise to such sale. Aitken Investment Management and the Administrator are authorised to accept and act upon any instructions in respect of this application and the Units to which it relates given by me by facsimile. If instructions are given by facsimile, the onus is on me to ensure that such instructions are received in legible form and I undertake to confirm them in writing. I indemnify Aitken Investment Management and the Administrator against any loss arising as a result of any of them acting on facsimile instructions. Aitken Investment Management and the Administrator may rely conclusively upon and shall incur no liability in respect of any action taken upon any notice, consent, request, instruction or other instrument believed, in good faith, to be genuine or to be signed by properly authorised persons. The term “U.S. Person” shall mean any person that is a United States person within the meaning of Regulation S under the United States Securities Act of 1933 or as defined by the U.S. Commodity Futures Trading Commission for this purpose, as the definition of such term may be changed from time to time by legislation, rules, regulations or judicial or administrative agency interpretations.


• Aitken Investment Management issues the Information Memorandum solely in its capacity as Trustee of the Fund, and (without limiting its rights under the Constitution) Aitken Investment Management’s liability is limited to the amount which Aitken Investment Management is actually indemnified for out of the assets of the Fund in respect of such liability.

• Aitken Investment Management reserves the right to reject any application.

• If requested by Aitken Investment Management, the investor agrees, and it is a condition of the issue of the Units, to provide certain information required by it or any custodian or administrator of the Fund in order to comply with any application law, including the United States Foreign Account Tax Compliance Act (FATCA)

• if the investor is a body corporate, the investor is duly incorporated and validly existing under the laws of the investor’s place of incorporation;

• the investor has the experience necessary to evaluate and understands the financial, investment and other risks involved in an investment in the Fund;

• the investor has sought advice from its advisers as to the legal, tax, financial and other implications of an investment in the Fund and has relied solely on such advice and investigations made by the investor and its advisers in satisfying itself that an investment is a suitable, appropriate and desirable investment for the investor;

• Each investor acknowledges and agrees that to the best of its knowledge, the offer to issue Units will not on its own result in Aitken Investment Management:a. being required to provide the investor with a

prospectus or other offer document (however named);b. being required to obtain a licence or other

authorisation from, or effect any filing or notification with any regulatory authority or body, other than an Australian regulatory authority or body; and

c. breaching any law or policy of, or being liable to pay any amount or penalty under the relevant home jurisdiction of the investor.

• Each investor acknowledges and agrees that to the best of its actual knowledge:a. in order to comply with the Anti-Money Laundering

and Counter-Terrorism Financing Act 2006 and related rules and regulations (AML/CTF Law), Aitken Investment Management will be required to collect and verify certain identification information regarding prospective investors and the investor agrees to provide Aitken Investment Management and its agent with any information they require in order for the recipient to satisfy its or their obligations under the AML/CTF Law, including completing such documents, forms or any other procedure notified to the investor;

b. Aitken Investment Management or its agent reserves the right to request such information as is necessary to meet this obligation and that in some circumstances, may be required to re-verify this information or obtain additional information, such as when Units are transferred or redeemed;

c. Aitken Investment Management may (acting reasonably) decide to delay or refuse any request or transaction (including by suspending the issue of Units or withholding a distribution), if it is concerned that

the request or transaction may breach any obligation of, or cause any person to commit or participate in an offence under, any AML/CTF Law, and Aitken Investment Management will incur no liability to the investor if it does so;

d. any application amount contributed to the Fund:i. is from legitimate sources in connection with

regular business activities;ii. do not constitute the proceeds of crime as

contemplated by the Proceeds of Crime Act 1987 or 2002 (Cth);

iii. would not constitute a breach of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth); and

iv. do not breach any applicable laws in any jurisdiction relating to anti-money laundering or foreign exchange control restrictions; and

e. in certain circumstances:i. Aitken Investment Management may be obliged

to freeze or block an account where it is used in connection with illegal activities or suspected illegal activities, including any freeze or block which may arise as a result of the account monitoring that is required by AML/CTF Laws; and

ii. pursuant to the AML/CTF Laws, Aitken Investment Management will not be liable to the investor for any consequences or losses suffered as a result of the freezing or blocking of the investor’s account in accordance with AML/CTF Laws.

• Each investor acknowledges, agrees and consents to Aitken Investment Management and any agent collecting, holding and using its personal information for: a. providing or marketing products and services to the

investor; b. administration purposes, including monitoring,

auditing and evaluating the products and services; c. determining future product and business strategies and

to develop services, including the modelling of data and data testing;

d. ensuring compliance with all applicable regulatory or legal requirements including the requirements of the Australian Securities & Investments Commission, the Australian Taxation Office, the Australian Transaction Reports and Analysis Centre, Australian Government Department of Immigration and Border Protection, NSW Fair Trading and any other Government Agency, regulatory bodies or relevant exchanges; and

e. communicating with the investor in relation to its holding of Units in the Fund and all transactions relating to the holding of Units in the Fund.

• Each investor acknowledges that in connection with the services provided to the Fund that their personal data may be transferred and/or stored in various jurisdictions in which the Administrator and/or its affiliates have a presence, including to jurisdictions that may not offer a level of personal data protection equivalent to the investor country of residence. Each investor will also be required to acknowledge in the application form that the Fund, the Administrator and/or the Investment Manager may disclose the subscriber’s personal data to each other, to any affiliate, to any other service provider to the Fund or to any regulatory body in any applicable


jurisdiction to which any of the Fund, the Administrator and/or the Investment Manager is or may be subject. This includes copies of the investor’s application form and any information concerning the investor in their respective possession, whether provided by the investor to the Fund, the Administrator and/or the Investment Manager or otherwise, including details of that investor’s holdings in the Fund, historical and pending transactions in the Fund’s units and the values thereof, and any such

disclosure, use, storage or transfer shall not be treated as a breach of any restriction upon the disclosure, use, storage or transfer of information imposed on any such person by law or otherwise.”

• Each investor agrees to notify Aitken Investment Management in writing as soon as practicable if any representation or warranty under this application form becomes untrue, inaccurate, misleading or deceptive.

Account operating instructions(if no selection is made, all individuals to sign will be assumed)

Any individual to sign Any two individuals to sign All individuals to sign Other (please specify):

Signature Name and title (block letters please) Date





WholesaleClient CertificateTo: Aitken Investment Management Pty Ltd

Please: Complete Section 1 Complete Section 2 – either complete Option B and have your accountant sign it OR complete Option A Sign and Date Section 3

SECTION 1Investor DetailsFull given name(s) or Company name Surname

Residential address if an investor or company registered office address (PO Box is NOT acceptable)

Street


Email



SECTION 2CertificationOPTION A: Wholesale Client Category

I certify that I am a “wholesale client” as defined in the Corporations Act 2001.Details of the Managed Fund or Superannuation Fund/Trust/Scheme (if applicable) (block letters please)

Name

Address

Street


Email




NOTES: a. Aitken Investment Management may require independent verification of your wholesale client status;b. pplicants that are residents of or receive the offer in New Zealand are instead to complete the New Zealand Wholesale

Certificate and need not provide this certificate.

OPTION B: Qualified Accountant’s* CertificationDetails of the Qualified Accountant* (block letters please):

Accountant’s name

Name of firm

Address

Street


Email



I certify that the following is true and correct in every particular:a. I am a qualified accountant* within the meaning of section 9 of the Corporations Act 2001;b. This certificate is given at the request of the investor described in Section 1 of this certificate (“Investor”);c. This certificate is given for the purpose of section 761G(7)(c) of the Corporations Act 2001; andd. The Investor has:

• Net assets of at least $2,500,000 (including the net assets of any company or trust controlled by the Investor); or• A gross income for each of the last 2 financial years of at least $250,000 a year (including the gross income of any

company or trust controlled by the Investor).


* “Qualified accountant” means a member of a professional body that is approved by ASIC in writing for the purpose of the definition. ASIC has indicated that it will approve any member of:

a. CPA Australia(“CPA”), who is entitled to use the post-nominals “CPA” or “FCPA”, and is subject to and complies with the CPA’s continuing professional development requirements;

a. The Institute of Chartered Accountants in Australia (“the ICAA”), who is entitled to use the post-nominals of “CA”, “ACA” or “FCA”, and is subject to and complies with the ICAA’s continuing professional education requirements; or

a. The Institute of Public Accountants (“the IPA”), who is entitled to use the post-nominals “AIPA”, “MIPA” or “FIPA”, and it subject to and complies with IPA’s continuing professional education requirements.


SECTION 3Investor’s SignatureI declare that I have read and understood this form, and that the information set out is true and correct.Please sign below:


Post Or Fax This FormPlease return the completed certificate to the postal address provided below:

MAIL:Citco Funds Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney, NSW 2000A copy may be sent to

Email*: [email protected]*: +61 2 9005 0444

*If you are faxing or emailing your application form, you are also required to post the original to Citco Funds Services. We cannot process your application until we receive the original of this form.


New Zealand Wholesale CertificateWholesale Investor Certification (Clause 44 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA))

WarningThe law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for these investments.

Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

OffenceIt is an offence to give a certificate knowing that it is false or misleading in a material particular. The offence has a penalty of a fine not exceeding $50,000.

The OfferInterests in the Fund are offered and issued to investors by Aitken Investment Management Pty Ltd (ACN 603 583 768).

Offers of interests in the Fund in New Zealand are limited to wholesale investors within the meaning of clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013 (‘FMCA’).

In order to access interests in the Fund, please review the IM for the Fund and the relevant trust deed for the Fund, read this form, select the type(s) of wholesale investor criteria that apply to you, and complete the certification below.

If you have any queries in relation to the Fund or your wholesale investor certification, contact:

Citco Fund Services (Australia) Pty. Ltd.Level 22, 45 Clarence StreetSydney, NSW 2000Australia

Tel: +61 2 9005 0400Fax:+61 2 9005 0444Email: [email protected]

The investor identified below certifies that: • the investor is a wholesale investor within the meaning of Schedule 1 of the FMCA, clause 3(2)(in relation to offers of

financial products); and • the investor understands the consequences of being certified as a ‘wholesale investor’ in terms of the FMCA and has

received the Information Memorandum and the trust deed of the Fund for the offer.

The type of wholesale investor outlined in Schedule 1 that applies to the investor is identified below, along with the grounds on which the investor claims that they fall within the identified type.

Unless the Investment Manager agrees otherwise, by completing this form the investor is certifying that every transaction on the account referred to below is carried out on its own behalf and not on behalf of any third party. Please contact the Investment Manager if you are acting on behalf of any third party.

Please select all types of wholesale investor below that are applicable by marking a or a in the relevant box(es). For each type that applies, please also select the relevant grounds on which the investor is within the identified type.


The investor is an investment business (clause 3(2)(a))

Grounds for claiming the investor is within this type:

The investor is an entity whose principal business consists of investing in financial products

The investor is an entity whose principal business consists of acting as an underwriter

The investor is an entity whose principal business consists of providing a financial adviser service (within the meaning of s 9 of the Financial Advisers Act 2008) in relation to financial products

The investor is an entity whose principal business consists of providing a broking service (within the meaning of section 77B of the Financial Advisers Act 2008) in relation to financial products

The investor is an entity whose principal business consists of trading in financial products on behalf of other persons

The investor is a registered bank (within the meaning of section 2(1) of the Reserve Bank of New Zealand Act 1989)

The investor is a non-bank deposit taker (within the meaning of section 5 of the Non-bank Deposit Takers Act 2013)

The investor is a licensed insurer (within the meaning of section 6(1) of the Insurance (Prudential Supervision) Act 2010)

The investor is a manager of a registered scheme, or a discretionary investment management service, that holds a market services licence

The investor is a derivatives issuer that holds a market services licence

The investor is a QFE or an authorised financial adviser

The investor meets the investment activity criteria (clause 3(2)(b))


The investor (including any entity that the investor controls or controlled at the relevant time) owns, or at any time during the two-year period before the date of this certificate has owned, a portfolio of financial products (excluding category 2 products, interests in KiwiSaver or any other form of retirement scheme, or financial products issued by an associated person of the investor) of a value of at least NZ$1 million (in aggregate)

The investor (including any entity that the investor controls or controlled at the relevant time) has, during the two-year period before the date of this certificate, carried out one or more transactions to acquire financial products (excluding category 2 products, interests in KiwiSaver or any other form of retirement scheme, or financial products issued by an associated person of the investor) where the amount payable under those transactions (in aggregate) is at least NZ$1 million, and the other parties to the transactions were not associated persons of the investor

The investor is an individual who has, within the last 10 years before the date of this certificate, been employed or engaged in an investment business and has, for at least two years during that 10-year period, participated to a material extent in the investment decisions made by the investment business


The investor is large (clause 3(2)(c))


As at the last day of each of the two most recently completed financial years before the date of this certificate, the net assets of the investor and any entities controlled by the investor exceeded NZ$5 million

In each of the two most recently completed financial years before the date of this certificate, the total consolidated turnover of the investor and any entities controlled by the investor exceeded NZ$5 million

The investor is a government agency (clause 3(2)(d))

Grounds for claiming the client is within this type:

The investor is a government department named in Schedule 1 of the State Sector Act 1988

The investor is a Crown entity under section 7 of the Crown Entities Act 2004

The investor is a local authority

The investor is a State enterprise (within the meaning of section 2 of the State-Owned Enterprise Act 1986)

The investor is the Reserve Bank

The investor is the Board of Trustees of the National Provident Fund continued under the National Provident Fund Restructuring Act 1990 (or a company appointed under clause 3(1)(b) of Schedule 4 of that Act)

If the investor is an entity, the investor certifies that it was not established or acquired with a view to being used as an entity to which offers of financial products may be made in reliance upon this exclusion.

The investor undertakes to provide the Investment Manager with any information it reasonably requests in order to support the certifications provided.

The investor acknowledges that this certificate is provided to the Investment Manager for the purposes of determining the investor’s eligibility to be treated as a wholesale investor for the purposes of the FMCA, and that they will be reliant upon the certifications provided in offering financial products or services to the investor (whether as part of the Fund, or otherwise).

The investor understands that this certificate is valid and may be relied upon by the Investment Manager for a period of two years following its date, unless earlier revoked.

Name of investor

Account number

Dated this day of 20


Execute Appropriate Signatory Block

Name

Signature

or

Name

SignatureName

SignatureName

Signature

As Trustees of the

OR

SIGNED on behalf of by:

Name

Director


AdditionalApplication Form AIM Global High Conviction Fund

Investor Number

Investor Name

Amount of Additional InvestmentPlease indicate how much you wish to invest

Please note the minimum additional investment amount is $50,000. Please make payment net of all bank charges. Only net amount received will be invested in the Fund.

Payment Details

Electronic Funds Transfer (EFT). Bank: Westpac Banking CorporationFor the Account of: Aitken Investment Management Pty Ltd ATF AIM Global High Conviction FundBSB: 032002Account number: 889380 Reference: [Unitholder name]

IMPORTANT: All EFT payments must be accompanied by a notification email to [email protected] in order to ensure that the investor account is properly credited.

Contact Details Contact Name

Contact Number


Declaration And Authorisation Please make sure you have completed the section above.

• In signing, I/we authorise that these instructions be made on my/our behalf and acknowledge that this Application Form is provided on the basis that Aitken Investment Management will process it in accordance with the current IM for the Fund.

Signature Name and title of Signatory (block letters please) Date

Signature Name and title of Signatory (block letters please) Date

Post Or Fax This Form The Additional Application Form is to be sent to:

MAILCitco Funds Services (Australia) Pty LtdLevel 2245 Clarence StreetSydney, NSW 2000

A copy may be sent to

Email*: [email protected]*: +61 2 9005 0444

*If you are faxing or emailing your application form, you are also required to post the original to Citco Funds Services. We cannot process your application until we receive the original of this form.

Payment to be made by Electronic Funds Transfer (EFT) - Bank Westpac Banking CorporationFor the Account of Aitken Investment Management Pty Ltd ATF AIM Global High Conviction FundBSB 032002 Account number 889380 Reference [Unitholder name]

NOTE: No Units will be allocated to an investor until application monies and a valid Application Form (including identification documents, where applicable), have been received by the Administrator prior to cut-off date

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